Shares of Torrent Pharma increase after the US FDA's examination

 Shares of Torrent Pharma increase after the US FDA's examination

The oral cancer manufacturing facility of Torrent Pharmaceuticals underwent a pre-approval inspection (PAI) by the US FDA.

The net profit for Torrent Pharma in Q2 increased by 24% to Rs 386 crore.

December 12: After falling in the morning, Torrent Pharma shares rose over 1% in trade. This constructive action came after the US FDA completed its inspection and sent the business a Form 483 with five procedural issues noted. Specifically, there were no remarks made about data integrity.

From December 5 to December 11, the US FDA carried out a pre-approval inspection (PAI) at the oral-oncology production plant of Torrent Pharmaceuticals in Bileshwarpura, Gujarat.

Observations made during the inspection are often included in Form 483. Torrent Pharma said in a filing to exchanges that "we will respond to the US FDA inside the stipulated time-frame and will work directly with the agency to address its suggestions as quickly as possible."

As of 10.45 am, the company's shares were trading at Rs 2,093, which was 0.7% higher than the NSE's closing price for the previous session.

The US Food and Drug Administration (US FDA) was reported to be reviewing facilities owned by Indian pharmaceutical corporations, such as Dr Reddy's, Sun Pharma, Torrent Pharma, and Laurus Labs, earlier this month.

Torrent Pharma's net profit for the second quarter increased by 24% to Rs 386 crore, offsetting a fall in US sales with increases in revenue from businesses in Brazil, Germany, and India. Revenue reached Rs 2,660 crore, up 16%. Revenue from its activities in Germany increased by 21%, while revenue from Brazil increased by 36%. Its revenue from India increased by 18% to Rs 1,444 crore.