India's Torrent To Consolidate Pharma Ops
The Torrent group in India is to consolidate its $175 millionpharmaceuticals business. Torrent Pharmaceuticals Ltd (TPL) has acquired the drug export and investment business of Torrent Export and is actively considering a merger of TPL with Torrent Gujarat BioTech Ltd (TGBL), a third company in the group which is involved in the bulk production of penicillin G.
Turnover of the acquired business is about $35 million. The Torrent group's health care business is expected to be among the industry leaders in India by 2000, with sales of some $350 million. TPL is currently setting up an advanced R&D facility and is rationalizing its product range by discontinuing the marketing of 35 of its 95 molecules. TPL deputy managing director Mr K K Sureka said it plans to focus activity on anti-infectives.
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