Torrent Pharma announces Q1 FY22 results

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Torrent Pharma announces Q1 FY22 results.

India:

  • Indiarevenues at Rs 1,093 crores grew by 18%.
  • As per AIOCD data, Torrent’s Q1 FY22 growth was 24% versus IPM growth of 37%.  IPM growth during the quarter includes high contribution from Covid treatments and a low base last year
  • Covid drugs: Torrent has launched baricitinib during the quarter and is currently conducting clinical trials for molnupiravir; more partnerships under evaluation to widen covid portfolio
  • PCPM for the quarter was Rs 10 lakhs with an MR strength of 3,600
  • Torrent has launched its Trade Generics division during the quarter.

United States:

  • US revenues at Rs 266 crores, were down by 29%.
  • Constant currency sales were $36 million.
  • Sales were lower due to price erosion in the base business and lack of new approvals pending re-inspection of facilities.
  • As on June 30, 2021, 54 ANDAs were pending for approval with USFDA and 7 tentative approvals were received, including 1 tentative approval received during the quarter.

Brazil:

·       Brazil revenues at Rs 153 crores, were up by 9%

·       Constant currency sales at R$ 108 million, was up by 14% versus covered market growth of  12%

·       Growth was driven by growth momentum in both the branded and generic segment. New products have contributed to 3% growth.

Germany:

  • Germany revenues at Rs 260 crores were up by 5%
  • Constant currency sales were Euro 29 million with flat growth.
  • Second wave of Covid and related lockdowns impacted the market growth during the quarter.

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