Pharma Acquisition Torrent Pharmaceuticals Acquires US-based Bio-Pharm
With this move, Torrent Pharmaceuticals has established its presence in the USA. The acquisition will also enable the company to growth further in the field of manufacturing and R&D.
Ahmedabad/India – Torrent Pharmaceuticals has announced the acquisition of Bio-Pharm, a drugmaker based in Pennsylvania, US. The company did not disclose the deal size or other financial details. Bio-Pharm, a generic pharmaceuticals and over-the-counter (OTC) drugs company, has a proven track record in the research and development and manufacturing of oral solutions, suspensions and suppositories. Its 75,000 sq. ft US Food and Drug Administration (USFDA) registered facility has manufacturing capabilities for controlled substances which can be manufactured in the US only as per government guidelines.
Bio-Pharm has 10 approved Abbreviated New Drug Applications (ANDAs). It has another 10 ANDAs under review at the FDA for itself and its partners and has an additional 17 products under development. Torrent plans further investments to expand Bio-Pharm’s facilities including R&D capabilities and will increase the number of its product filings.