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Also they introduced 25 new products during the year.During the year 2004-05 the company entered into a License Agreement with Novartis granting global rights for further development and commercialization of its patented AGE Breaker Compound to Novartis.
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Also the company incorporated Torrent Pharma GmbH as a wholly owned subsidiary company in Germany.During the year 2003-04 the company set up a wholly owned subsidiary company namely Torrent Pharma Inc in USA with the objective of business development in the large growing and highly profitable North America generic market. The company completed the upgradation of bulk drug plant during the year which was started during the financial year 2001-02. During the year 2002-03 the company introduced 28 new products including the line extensions.
Also they transferred their entire equity holding of 19504691 shares in the sick industrial undertaking Torrent Gujarat Biotech Ltd to Torrent Pvt Ltd a company belonging to the promoter group. During the year the company divested their entire 50% equity stake in Sanofi Torrent (India) Ltd to their joint venture partner Sanofi Synthelabo France. Also they acquired a small pharmaceutical company namely Fornex Industrial Farmaceutica Ltda later renamed as Torrent Do Brasil Ltda in Brazil for Rs 128 lakh. The company completed the upgradation and modernization programme for the formulations plant at the total cost of Rs 48 crore. During the year 2001-02 the company launched 31 new products out of which 8 were first time launches in India. As a part of restructuring the company formed three new divisions namely Prima Vista and Psycan in the year 1999. In the year 1997 India Infusions Ltd was merged with the company. In the year 1995 Torrent Gujarat Biotech Ltd plant was commissioned.In the year 1996 the company acquired the Pharma related investments and business of Torrent Exports Ltd and also commissioned the state-of-the-art R&D centre. In the year 1986 they started their second manufacturing plant at Chhatral. In the year 1980 their started their first manufacturing facility at Vatva and they received their first export order in the year 1983. Torrent Pharmaceuticals Ltd the flagship company of the Torrent Group was incorporated in the year 1972. The company operates through its wholly owned subsidiaries spread across 12 nations with major setups in Brazil Germany and US. Torrent Pharma has a strong international presence spread across 40 countries with operations in regulated and emerging markets like US Europe Brazil and Rest of the World. It is ranked 8th in the Indian Pharmaceuticals Market and is amongst the Top 5 in the therapeutics segments of Cardiovascular (CV) Central Nervous System (CNS) Gastro-intestinal (GI) and Vitamins Minerals Nutritionals (VMN). The company has a modern and well-equipped state-of-the-art R&D Centre at Bhat near Ahmedabad built with an investment of US $ 40 million.Torrent Pharma is 6th largest pharma company in India in terms of Enterprise Value. The company also has significant presence in Gastro-Intestinal Diabetology Anti-Infective and Pain Management segments. The company is a dominant player in the therapeutic areas of cardiovascular (CV) and central nervous system (CNS).
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