Torrent To Build ‘Future Brazil’ In Mexico, Open To Acquisitions In India
Januvia Generic Sees Strong Competition
Torrent is upping its ambitions in Mexico, the second-largest market in Latin America, where it is to set up a manufacturing hub along with other Indian companies. As sales in the US stagnate, it's also on the acquisition path in India. Meanwhile, building market share for its Januvia generic is going to be an uphill task.
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Torrent’s quarterly revenues were up by 18% to INR24.9bn in Q3 FY2023. Branded generics and the Brazilian market did much of the heavy lifting.
Torrent continues its overall growth trajectory in Q2 of its 2023 financial year, but a flagging German market slows the company’s expansion strategy. The board insists improved sales are just around the corner.
A wave of cut-price sitagliptin generics is seen hitting the Indian market with expiry of the patent on Merck’s Januvia, a product that has had a hugely eventful journey over the years including fending off pre-expiry challengers. Will the company respond with price cuts?