Torrent Pharma has entered into an agreement to acquire the Vizag active pharmaceutical ingredients (API) manufacturing unit of Hyderabad-based Glochem Industries.
The company has also decided to acquire a few drug master files as a going concern on slump sale basis from Glochem.
The company currently has five formulation manufacturing units and with this acquisition, it will have three API facilities for the regulated markets, in the near future, Torrent Pharma said.
The facility, located at JNPC Parawads district, Vizag, currently has three blocks for advance intermediate manufacturing and four blocks for API manufacturing.
The facility also has capabilities for on site development, analytical method development, quality control laboratory and a pilot plant.
The API unit approved by the USFDA and the European regulatory authorities is a multi-product facility, with a capacity to manufacture Advance Intermediaries and APIs. This will be beneficial in the company's growth trajectory. The acquisition will help Torrent Pharma in vertically integrating its abbreviated new drug application (ANDA) filings in the future, Torrent said.
“Acquisition of this site will further help in backward integration and scale up of Torrent’s manufacturing capacity to meet the growing demand from the international markets,” Torrent Pharma executive director (operations) Jinesh Shah said.
