Torrent Pharma announces Q1 FY22 results.
- 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.
- US revenues at Rs 266 crores, were down by 29%.
- Constant currency sales were $36 million.
- Sales were lower due to price erosion in the base business and lack of new approvals pending re-inspection of facilities.
- As on June 30, 2021, 54 ANDAs were pending for approval with USFDA and 7 tentative approvals were received, including 1 tentative approval received during the quarter.
· Brazil revenues at Rs 153 crores, were up by 9%
· Constant currency sales at R$ 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 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.