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Torrent Pharma rises on entering into agreement with Boehringer Ingelheim to acquire 3 nti-daiabetes brands
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Torrent Pharmaceuticals is currently trading at Rs. 3364.30, up by 14.70 points or 0.44% from its previous closing of Rs. 3349.60 on the BSE.
The scrip opened at Rs. 3450.00 and has touched a high and low of Rs. 3450.00 and Rs. 3318.95 respectively. So far 3863 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 3589.95 on 10-Oct-2024 and a 52 week low of Rs. 2025.00 on 13-Dec-2023.
Last one week high and low of the scrip stood at Rs. 3450.00 and Rs. 3207.45 respectively. The current market cap of the company is Rs. 113863.20 crore.
The promoters holding in the company stood at 71.25%, while Institutions and Non-Institutions held 21.54% and 7.21% respectively.
Torrent Pharmaceuticals has entered into an agreement to acquire brands Cospiaq (empagliflozin), Cospiaq Met (empagliflozin + metformin) and Xilingio (empagliflozin + linagliptin) from Boehringer Ingelheim International GmbH (BI). The acquisition is expected to be completed in March 2025. Torrent has been marketing these brands since 2022 as part of an existing co-marketing agreement with Boehringer Ingelheim India.
Empagliflozin is a novel sodium glucose co-transporter-2 (SGLT-2) inhibitor which is indicated for glycemic control in adults with type 2 diabetes mellitus; The market for SGLT-2 inhibitors is valued at Rs 3,235 crore and the SGLT-2 inhibitors are growing faster than the diabetes market at 25% CAGR. As per International Diabetes Federation, India has the second largest diabetes patient base in the world with an estimated 74.2 million adults (20-79 years age group) as of 2021. This is expected to increase to almost 125 million patients by 2045. According to AWACS MAT October 2024 data, the Indian diabetes medications market is valued at Rs 19,912 crore, growing at 7.7% CAGR over the last 4 years.
Torrent Pharmaceuticals is flagship company of the Torrent group, a leader in cardiovascular and central nervous system segments. It also has presence in gastro-intestinal, diabetology, anti-infective and pain management segments.
