Torrent Pharmaceuticals receives green light from US FDA for Dahej Facility

In Thursday’s trading session, the bulls of Dalal Street were seen on a strong run, with both the Sensex and Nifty surging by 0.04% each. The shares of Torrent Pharmaceuticals Limited witnessed a surge of 1.36%. The company’s current market capitalisation is Rs 66,474.47 crore.

Today, Torrent Pharmaceuticals Limited has revealed that the US Food and Drug Administration, the regulatory body for drugs in the United States, has issued an Establishment Inspection Report (“EIR”) for Torrent’s manufacturing facility located in Dahej, Gujarat.

The recent inspection conducted by the US FDA has been successfully concluded and the inspection process for the facility is now closed. In a previous inspection conducted in March 2019, the Dahej facility had received an “Official Action Indicated (OAI)” status from the US FDA.

As a positive development, the classification of the Dahej facility has been updated to “Voluntary Action Indicated (VAI),” indicating that Torrent can anticipate the approval of filed Abbreviated New Drug Applications (ANDAs). This change holds the potential to significantly bolster Torrent’s growth prospects in the US market by facilitating the introduction of new products.

It is noteworthy that the Dahej facility is responsible for the production of Active Pharmaceutical Ingredients (APIs) and formulations that cater to Torrent Pharma’s international markets. This positive outcome not only reflects Torrent’s commitment to regulatory compliance and quality but also augments the company’s ability to expand its offerings and strengthen its presence in the competitive US pharmaceutical market.

About Torrent Pharmaceuticals:

It is a prominent Indian pharmaceutical company that is deeply involved in the research, development, manufacturing, and promotion of generic pharmaceutical formulations. Furthermore, It also serves as the flagship entity within the Torrent Group, a conglomerate that extends its influence across various sectors including power and city gas distribution ventures.

In the past year, the stock has seen a strong demand leading to an impressive rise of over 26%.

 Keep a close eye on this trending stock

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet, and is subject to changes. Please consult an expert before making related decisions.