Torrent Pharma announces Q3 FY24 results
Table of Contents
India:
- India revenues at Rs 1,415 crores, were up by 12%.
- As per AIOCD secondary market data, IPM growth for the quarter was 9%.
- Torrent has outperformed the market across all focus therapies aided by strong new launch performance
- For YTD Dec FY24, revenues at Rs 4,286 crores, were up by 15%.
Brazil:
· Brazil revenues at Rs 312 crores, were up by 26%.
· Constant currency revenues at R$ 185 million, were up by 17%.
· As per IQVIA, market growth for the quarter was 6.5%
- Growth was aided by our four launches in 2022 and three launches in 2023 as well as performance of top brands and growth in the generic business.
- For YTD Dec FY24, revenues at Rs 754 crores, were up by 22% (Constant currency revenues: R$ 448 million, were up by 13%).
Germany:
- Germany revenues at Rs 270 crores, were up by 12%.
- Constant currency revenues at Euro 30 million, were up by 6%.
- Growth momentum continues with incremental tender wins coupled with better conversion of existing tenders.
- For YTD Dec FY24, revenues at Rs 795 crores, were up by 18% (Constant currency revenues: Euro 89 million, were up by 9%).
United States:
- US business revenues at Rs 274 crores, were down by 6%.
· Constant currency revenues at $33 million, were down by 7%. Growth was impacted due to lack of new product launches.
- New product launches to start from Q1 of fiscal 2024-25.
- As at December 31, 2023, 40 ANDAs were pending approval with USFDA and 3 tentative approvals were received. During the quarter, 2 ANDA were approved & 1 ANDA was filed.
- For YTD Dec FY24, revenues at 815 crores, were down by 8% (Constant currency revenues: $99 million, were down by 11%).
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