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Torrent Pharma Hits 52-Week High After Favorable US FDA Inspection

6 Mar 2024 , 04:11 PM

Torrent Pharma's stock surged to a 52-week high of ₹2,745.55 in the opening trade on March 6 following a favorable inspection by the US FDA. Currently, the stock is trading at ₹2,691.210, up by 1.10%. The USFDA has closed its inspection of Torrent Pharma's Gujarat manufacturing facility, issuing an establishment inspection report (EIR). The inspection, conducted from December 5 to December 11, 2023, focused on the company's oral-oncology manufacturing facility in Bileshwarpura, Gujarat. 

In the quarter ending December 2023, Torrent Pharma reported a significant 56.5% increase in net profit, reaching ₹443 Crore. Over the past year, the company's share price has surged by 80%. Torrent Pharmaceuticals Ltd, a part of the ₹37,000 Crore Torrent Group and headquartered in Ahmedabad, is a leading Indian multinational pharmaceutical company. With a presence in over 40 countries and more than 2000 product registrations globally, Torrent Pharma operates in various therapeutic segments, including cardiovascular, central nervous system, gastro-intestinal, and others.

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