Torrent Pharma acquires 4 brands from Dr. Reddy's Laboratories; stock marginally up

27 May 2022 , 01:21 PM

Torrent Pharmaceuticals Limited announced that the company has entered into an agreement with Dr. Reddy's Laboratories for the acquisition of four of its brands Styptovit-E, Finast, Finast-T, and Dynapress.

Styptovit-E, a gynecology product having an estimated market size of Rs500 crore (AIOCD data set), will further strengthen Torrent’s presence in the therapy.

The acquisition of these four brands namely, Finast, Finast-T, and Dynapress, which are used in the treatment of Benign Prostatic Hyperplasia (BPH), will further expand Torrent's presence in the Urology therapy.

According to the terms of a definitive agreement, Torrent Pharma will take over the manufacturing, distribution, and marketing of these brands in India. The complete integration and transition of the brands are expected to be finished by June 2022.

Torrent Pharma is currently trading at Rs2,916.95 up by Rs16.05 or 0.55% from its previous closing of Rs2,900.90 on the BSE. The scrip touched day's high and low of Rs2,940 and Rs2,879.10 respectively.