Torrent Pharma enters into an agreement with Boehringer Ingelheim to acquire 3 anti-diabetes brands

Torrent Pharmaceuticals Limited (Torrent) today announced that it entered into an agreement to acquire brands Cospiaq (empagliflozin) Cospiaq Met (empagliflozin + metformin) and Xilingio (empagliflozin + linagliptin) from Boehringer Ingelheim International GmbH (BI). The acquisition is expected to be completed in March 2025 Torrent has been marketing these brands since 2022 as part of an existing co-marketing agreement with Boehringer Ingelheim India.

Empagliflozin is a novel sodium glucose co-transporter-2 (SGLT-2) inhibitor which is indicated for glycemic control in adults with type 2 diabetes mellitus; The market for SGLT-2 inhibitors is valued at INR 3,235 Crores and the SGLT-2 inhibitors are growing faster than the diabetes market at 25% CAGR. As per International Diabetes Federation, India has the second largest diabetes patient base in the world with an estimated 74.2 million adults (20-79 years age group) as of 2021. This is expected to increase to almost 125 million patients by 2045. According to AWACS MAT October 2024 data, the Indian diabetes medications market is valued at INR 19,912 crore, growing at 7.7% CAGR over the last 4 years.

Commenting on the agreement, Aman Mehta, Director, Torrent said: "As we continue to strengthen our diabetes care portfolio, we will ensure continued access to the treatment for patients whilst building on our presence in the Oral Anti Diabetic market".

Shares of Torrent Pharmaceuticals Limited was last trading in BSE at Rs. 3349.60 as compared to the previous close of Rs. 3361.60. The total number of shares traded during the day was 2272 in over 611 trades.

The stock hit an intraday high of Rs. 3386.35 and intraday low of 3296.00. The net turnover during the day was Rs. 7574191.00.

Source : Equity Bulls

Keywords

TorrentPharmaceuticals INE685A01028 Agrement BrandAcquisition BoehringerIngelheim AntiDiabetes