Ahmedabad based Torrent Pharmaceuticals has entered into an agreement with Dr. Reddy's Laboratories Ltd. to acquire four of its brands "Styptovit-E", "Finast", "Finast-T", and "Dynapress".
Styptovit-E, a gynaecology product with an estimated market size of ~Rs. 500 crores (AIOCD data set), will further strengthen Torrent's presence in the therapy. The acquisition of "Finast", "Finast-T", and "Dynapress", which are used in the treatment of Benign Prostatic Hyperplasia (BPH), will aid in Torrent's presence in the Urology therapy.
As per the terms of the definitive agreement, Torrent Pharma will take over the manufacturing, marketing and distribution of these brands in India. The complete integration and transition of the brands are expected to be completed by June 2022.
Shares of Torrent Pharmaceuticals Limited was last trading in BSE at Rs. 2900.90 as compared to the previous close of Rs. 2634.55. The total number of shares traded during the day was 61292 in over 6061 trades.
The stock hit an intraday high of Rs. 2931.05 and intraday low of 2750.00. The net turnover during the day was Rs. 175471549.00.