TORNTPHARM

Updates

** Shares of Torrent Pharma TORP.NS climb as much as 2.5% to a record high of 3,713.1 rupees

** Stock is second-top gainer in the pharma sub-index .NIPHARM, which is up 0.18%

** The drugmaker's Q1 consol net profit up 20% y/y on strong demand for drugs used to treat long-term conditions

** At least 10 brokerages increased PTs after the results, raising median PT to 3,800 rupees from 3,580 rupees last month, as per data compiled by LSEG

** HSBC says continued traction in TORP's India and Brazil segments, a pick-up in U.S. sales to support a healthy EBITDA margin outlook

** Co expects EBITDA margins of at least 32.9% for the remaining quarters of FY26; its operating EBITDA margins stood at 32.5% in Q1

** Jefferies expects TORP's India, Brazil sales to continue outperforming, while losses in U.S. likely to reduce through fiscal year

** TORP up ~8% YTD, as of Monday's close

(Reporting by Manvi Pant in Bengaluru)

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July 28 (Reuters) - Torrent Pharmaceuticals Ltd TORP.NS:

• Q1 CONSOL NET PROFIT 5.48 BILLION RUPEES

• Q1 CONSOL TOTAL REVENUE FROM OPERATIONS 31.78 BILLION RUPEES; IBES EST 31.57 BILLION RUPEES

Further company coverage: TORP.NS

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July 21 (Reuters) - Torrent Pharmaceuticals Ltd TORP.NS:

• BOARD TO CONSIDER DEBENTURE/BOND ISSUANCE

• TO CONSIDER ISSUE VIA PRIVATE PLACEMENT

Source text: ID:nBSE3p8mYb

Further company coverage: TORP.NS

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July 3 (Reuters) - J B Chemicals and Pharmaceuticals Ltd JBCH.NS:

• AGREES TO BUY FURTHER 2.41% STAKE OF J.B. CHEMICALS FOR ABOUT 6.2 BILLION RUPEES

Source text: ID:nBSE82mH2n

Further company coverage: JBCH.NS

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June 30 (Reuters) - The following are the top stories in the Wall Street Journal. Reuters has not verified these stories and does not vouch for their accuracy.

- Canada scrapped its digital services tax targeting U.S. technology firms late on Sunday, just hours before it was due to take effect, in a bid to advance stalled trade negotiations with the United States.

- ASL Strategic Value Fund plans to push shareholders of drugmaker Avadel Pharmaceuticals AVDL.O to vote to remove the company's board, citing mismanagement in the launch of its flagship sleep disorder drug.

- India's Torrent Pharmaceuticals TORP.NS will acquire a 46.39% controlling stake in smaller peer JB Chemicals and Pharmaceuticals JBCH.NS from New York-based investment firm KKR KKR.N.

- Two firefighters were shot dead while responding to a fire in northern Idaho and the body of a man was later found with a gun nearby, the Kootenai County Sheriff's Office said on Sunday, as it lifted a shelter-in-place order.

- Public calls for lower interest rates of the kind directed by President Trump toward Federal Reserve Chair Jerome Powell are not a threat to the central bank's independence, the Bank for International Settlements said Sunday.

(Compiled by Bengaluru newsroom)

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By Abu Sultan and Mrinmay Dey

June 29 (Reuters) - India's Torrent Pharmaceuticals TORP.NS said on Sunday it will acquire a 46.39% controlling stake in smaller peer JB Chemicals and Pharmaceuticals JBCH.NS from New York-based investment firm KKR KKR.N, and plans to merge the two drugmakers.

The transaction, announced in a joint statement released by the three companies, implies a total equity valuation of 256.89 billion rupees ($3.01 billion) for JB Pharma on a fully diluted basis.

"This strategic alignment furthers our goal of strengthening our presence in the Indian pharma market, and building a larger diversified global presence," Torrent Executive Chairman Samir Mehta said in the statement.

Under the terms of the deal, Torrent will initially acquire an equity stake in JB Pharma from KKR for 119.17 billion rupees.

Following this, Torrent will launch a mandatory open offer to acquire up to an additional 26% of JB Pharma shares from public shareholders at 1,639.18 rupees per share.

Torrent also signaled its intent to acquire up to 2.80% of equity shares from certain JB Pharma employees, the company said.

The second phase of the transaction involves a merger of Torrent and JB Pharma through a scheme of arrangement. Upon merger, JB Pharma shareholders will receive 51 Torrent shares for every 100 JB Pharma shares held.

KKR also confirmed the deal in a separate statement.

"We are confident that the combined strengths of our organizations will unlock greater opportunities to enhance healthcare access across our markets," said JB Pharma CEO Nikhil Chopra.

India is Torrent's biggest market by revenue, where it competes with peers such as Mankind Pharma MNKI.NS.

Torrent offers drugs used to treat cancer, infections and diabetes, and has benefited from steady demand for its specialty and chronic illness drugs.

For the January-March quarter, its consolidated net profit was up 11% from a year earlier.

JB Chemicals and Pharmaceuticals, meanwhile, reported higher fourth-quarter profit in May.

Along with the steady market for its gastrointestinal medicines, Metrogyl and Sporlac, the company also benefitted from demand for its drugs that treat chronic conditions such as hypertension.

($1 = 85.4400 Indian rupees)

(Reporting by Abu Sultan and Mrinmay Dey in Bengaluru; Editing by Joe Bavier)

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June 26 (Reuters) - Torrent Pharmaceuticals Ltd TORP.NS:

• TORRENT PHARMA - ISSUED COMMERCIAL PAPERS FOR AN AMOUNT OF 3 BILLION RUPEES

Source text: ID:nBSE5cWXrj

Further company coverage: TORP.NS

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June 20 (Reuters) - Torrent Pharmaceuticals Ltd TORP.NS:

• ISSUES COMMERCIAL PAPERS WORTH 2 BILLION RUPEES

Source text: ID:nBSEV7Cdc

Further company coverage: TORP.NS

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May 20 (Reuters) - Torrent Pharmaceuticals Ltd TORP.NS:

• Q4 CONSOL NET PROFIT 4.98 BILLION RUPEES; IBES EST 5.19 BILLION RUPEES

• Q4 CONSOL TOTAL REVENUE FROM OPERATIONS 29.59 BILLION RUPEES; IBES EST 29.85 BILLION RUPEES

• DIVIDEND 6 RUPEES PER SHARE

• RECOMMENDED MEMBERS TO OBTAIN ENABLING APPROVAL FOR 50 BLN RUPEES SHARE ISSUANCE

Further company coverage: TORP.NS

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May 13 (Reuters) - Torrent Pharmaceuticals Ltd TORP.NS:

• TORRENT PHARMACEUTICALS LTD - BOARD TO CONSIDER FUNDRAISING

Source text: ID:nBSE3SfPcz

Further company coverage: TORP.NS

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March 26 (Reuters) - Torrent Pharmaceuticals Ltd TORP.NS:

• TORRENT PHARMACEUTICALS LTD - ISSUES 2 BILLION RUPEES COMMERCIAL PAPERS

Source text: ID:nBSE27YSlR

Further company coverage: TORP.NS

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March 25 (Reuters) - Torrent Pharmaceuticals Ltd TORP.NS:

• TORRENT PHARMACEUTICALS LTD - ISSUES 3 BILLION RUPEES COMMERCIAL PAPERS

Source text: ID:nBSE3TY9f0

Further company coverage: TORP.NS

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** Shares of Torrent Pharmaceuticals TORP.NS rise as much as 3.5% to 3,360.70 rupees

** The pharmaceutical company on Friday reported a 13.5% Y/Y rise in Q3 consol net profit while total rev from ops rose 2.8% Y/Y

** TORP is the only stock in green in the Nifty pharma sub-index .NIPHARM, which is down 2.3%

** Stock currently above 50-day, 100-day and 200-day exponential moving averages

** More than 783,000 shares change hands, 3.1x of 30-day avg

** Avg rating of 26 analysts equivalent of "hold", median PT is 3,584.50 rupees - LSEG data

** Stock rose 45.7% in 2024 vs 39.1% gains by Nifty pharma

(Reporting by Ashish Chandra in Bengaluru)

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Jan 24 (Reuters) - Torrent Pharmaceuticals Ltd TORP.NS:

• DIVIDEND 26 RUPEES PER SHARE

• Q3 CONSOL NET PROFIT 5.03 BILLION RUPEES; IBES EST 5.13 BILLION RUPEES

• Q3 CONSOL TOTAL REVENUE FROM OPERATIONS 28.09 BILLION RUPEES; IBES EST 29.92 BILLION RUPEES

Source text: [ID:]

Further company coverage: TORP.NS

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Dec 26 (Reuters) - Torrent Pharmaceuticals Ltd TORP.NS:

• ISSUES COMMERCIAL PAPERS WORTH 2 BILLION RUPEES

Source text: ID:nBSE2DtznC

Further company coverage: TORP.NS

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** Shares of drugmaker Torrent Pharma TORP.NS climb 3% to 3,455 rupees in early trade

** Co says it will acquire three diabetes treatment brands - Cospiaq, Cospiaq Met and Xilingio - from German biopharmaceuticals firm Boehringer Ingelheim

** Acquisition to be completed in March 2025

** TORP, which makes diseases for long-time illnesses like diabetes and thyroid, has been marketing these brands since 2022 under a co-marketing agreement with Boehringer

** Analysts rate TORP, rivals Mankind Pharma MNKI.NS and Glenmark Pharma GLEN.NS at "buy" - LSEG data

** TORP's ~50% YTD gain smaller than GLEN's 81% climb but bigger than MNKI's 31% rise

(Reporting by Kashish Tandon in Bengaluru)

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Dec 4 (Reuters) - Torrent Pharmaceuticals Ltd TORP.NS:

• ENTERS INTO AGREEMENT WITH BOEHRINGER INGELHEIM TO ACQUIRE 3 ANTI-DIABETES BRANDS

• ACQUISITION EXPECTED TO COMPLETE IN MARCH 2025

Source text: ID:nBSEbDW2f4

Further company coverage: TORP.NS

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Nov 22 (Reuters) - Torrent Pharmaceuticals Ltd TORP.NS:

• TORRENT PHARMA -UPDATE ON INSPECTION CONDUCTED BY USFDA FOR CO'S FACILITY AT PITHAMPUR

• TORRENT PHARMA - USFDA HAS ISSUED EIR WITH VOLUNTARY ACTION INDICATED CLASSIFICATION ON FACILITY

• TORRENT PHARMA - INSPECTION HAS NOW BEEN SUCCESSFULLY CLOSED BY USFDA

Source text: ID:nBSE9Qc3fm

Further company coverage: TORP.NS

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** Shares of Torrent Pharmaceuticals TORP.NS fall as much as 4.1% to 3,084.80 rupees, lowest since July 25

** More than 449,000 shares change hands in nine block deals at 3,094.40-3,125.25 rupees each -LSEG data

** Prices at a discount to stock's last close of 3,215.65 rupees

** Broadcaster ET Now on Tuesday reported TORP promoters to sell 2.9% stake via block deals

** Stock among top losers in Nifty pharma index .NIPHARM which is down 1.3%

** Over 2 mln shares traded, 6x of 30-day avg and most active session since Sept 2023

** Stock up 36% YTD vs 33% gain in pharma index

(Reporting by Ashish Chandra in Bengaluru)

(([email protected] (+91 7982114624))

Oct 29 (Reuters) - Torrent Pharmaceuticals Ltd TORP.NS:

• TORRENT PHARMA PROMOTER TO SELL UPTO 2.9% STAKE VIA BLOCK DEALS ON OCT 30 - ET NOW

Source text: [ID:]

Further company coverage: TORP.NS

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** Shares of Torrent Pharmaceuticals TORP.NS fall 2.4% to 3,350 rupees

** The pharmaceuticals company's Q2 consol net profit and revenue missed analysts' estimates, per data compiled by LSEG

** Smaller-than-expected profit due to shutdown of an insulin manufacturing facility

** Q2 consol net profit up 17.4% Y/Y, rev rises 8.6% Y/Y

** Trading vols at 384,205, 1.3X the 30-day average

** TORP up ~45% YTD

(Reporting by Vijay Malkar)

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Oct 25 (Reuters) - Torrent Pharmaceuticals Ltd TORP.NS:

• Q2 CONSOL NET PROFIT 4.53 BILLION RUPEES; IBES EST 4.97 BILLION RUPEES

• Q2 CONSOL TOTAL REVENUE FROM OPERATIONS 28.89 BILLION RUPEES; IBES EST 29.78 BILLION RUPEES

Source text for Eikon: [ID:]

Further company coverage: TORP.NS

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Sept 26 (Reuters) - Torrent Pharmaceuticals Ltd TORP.NS:

• INCORPORATED UNIT NAMELY TORRENT PHARMACEUTICALS CHILE SPA

Source text for Eikon: ID:nBSE7djQ49

Further company coverage: TORP.NS

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Sept 20 (Reuters) - Torrent Pharmaceuticals Ltd TORP.NS:

• USFDA CONDUCTED ROUTINE GMP INSPECTION OF FORMULATION MANUFACTURING FACILITY

• END OF INSPECTION, AGENCY ISSUED FORM FDA 483 WITH ONE OBSERVATION

• FORM FDA 483 WITH ONE OBSERVATION IS PROCEDURAL IN NATURE

Source text for Eikon: ID:nBSE9Dt3XX

Further company coverage: TORP.NS

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Torrent Pharmaceuticals Ltd TORP.NS:

• TORRENT PHARMA- USFDA HAS ISSUED ESTABLISHMENT INSPECTION REPORT FOR INDRAD, GUJARAT FACILITY

• TORRENT PHARMA - INSPECTION CONDUCTED BY USFDA FOR MANUFACTURING FACILITY AT INDRAD

• TORRENT PHARMA- INSPECTION HAS NOW BEEN SUCCESSFULLY CLOSED BY USFDA

• TORRENT PHARMA - USFDA ISSUED ESTABLISHMENT INSPECTION REPORT WITH VOLUNTARY ACTION INDICATED

Source text for Eikon: ID:nBSE6yKYHr

Further company coverage: TORP.NS

-- Source link: https://bit.ly/4fLAmu7

-- Note: Reuters has not verified this story and does not vouch for its accuracy

((Bengaluru newsroom, [email protected]))

** Shares of Torrent Pharmaceuticals TORP.NS down 2.9% to 3,046.5 rupees

** Stock is the biggest loser on Nifty Pharma index .NIPHARM, which is up 0.55%

** Drug maker's Q1 profit rose less than expected

** TORP among nine "buy"-rated stocks on 20-member pharma index -LSEG data

** TORP up ~32% YTD vs ~24% climb in pharma index

(Reporting by Varun Vyas in Bengaluru)

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By VarunVyas Hebbalalu and Kashish Tandon

BENGALURU, July 5 (Reuters) - India's Emcure Pharmaceuticals EMCU.NS drew strong interest for its $234 million initial public offering (IPO) as investors bet on its slate of women's healthcare and HIV treatments to drive growth in a high-margin market.

The Bain Capital-backed company's IPO was fully subscribed on the first day of bidding and over the three-day process, it got bids worth up to 937.11 billion rupees ($11.23 billion), nearly 68 times the amount on offer, exchange data showed.

Bain sold nearly a third of its 13.07% stake in Emcure, with existing investors overall selling shares worth 11.52 billion rupees.

Emcure raised 8 billion rupees by issuing new shares in the IPO, which valued the company at up to 190.60 billion rupees, per Reuters calculations.

Emcure is going public in India's red-hot IPO market where more than 100 companies have raised around $4.6 billion through IPOs so far this year, more than double the same period last year, as per LSEG data.

Analysts are betting on its focus on areas such as gynaecology, where it has a market-leading 14% share, and HIV treatments. The generics market is dominated by firms such as Sun Pharma SUN.NS, Mankind Pharma MNKI.NS, Torrent Pharma TORP.NS and Abbott India ABOT.NS.

Institutional buyers, including foreign investors, banks and mutual funds, bid for 196 times the shares on offer, while retail investors bid for seven times their reserved shares.

Anchor investors, including Goldman Sachs and Abu Dhabi Investment Authority (ADIA), had earlier bought shares worth a total of 5.83 billion rupees.

Emcure's expansion-related spending has hit earnings over the last two years but the ramp-up of facilities will boost sales in the near term, said Sneha Poddar, vice president of research at Motilal Oswal Financial Services.

The stock's price-to-earnings ratio of 36.6 is also attractive compared to the industry average of 40.4, and can help it "pop" in its trading debut, analysts said.

($1 = 83.4690 Indian rupees)

(Reporting by Kashish Tandon and Varun Hebbalalu in Bengaluru; Editing by Savio D'Souza)

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BENGALURU, June 21 (Reuters) - Japan's Takeda Pharmaceutical 4502.T gave India's Sun Pharmaceutical SUN.NS and Cipla CIPL.NS the rights to commercialize gastrointestinal drug Vonoprazan in the country.

The drug, which is sold in the form of tablets under the brand name 'Voltapraz', blocks a key step in the production of stomach acid, Sun Pharma said on Friday. Cipla announced the agreement late on Thursday.

Takeda has granted both drugmakers non-exclusive patent licensing rights for the drug.

Gastroesophageal reflux disease (GERD) affects 5% to 28.5% of India's population.

Earlier this month, Torrent Pharmaceuticals TORP.NS also partnered with Takeda to commercialize Vonoprazan in India.

Sun Pharmaceutical's shares rose 0.7% on Friday, while Cipla was up 1%.

(Reporting by Navamya Ganesh Acharya in Bengaluru; Editing by Sonia Cheema)

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** Shares of Torrent Pharmaceuticals TORP.NS rise as much as 3.1% to hit record high of 2,866.75 rupees

** Co scales record high-level for second straight session

** Pharmaceutical co on Wednesday right before market-close said it entered into non-exclusive patent licensing agreement with Takeda Pharmaceuticals to commercialise its Novel Gastrointestinal drug in India

** Stock up 2.3% after the announcement

** Avg rating of 27 analysts is equivalent of "buy", median PT is 2,900 rupees - LSEG data

** Stock rose 12.8% in March quarter, its fourth straight quarterly gains

** Stock up 23.4% YTD

(Reporting by Ashish Chandra in Bengaluru)

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