Torrent Pharma buys US firm Bio Pharm
Torrent Pharmaceuticals has acquired Bio-Pharm, a generic and overthe-counter drugmaker based in Levittown, Pennsylvania, for an undisclosed sum.
"This acquisition is an important step for increasing Torrent's presence in the United States, is consistent with our strategy of dosage form diversification, and provides us with new capabilities including manufacturing and R&D presence in the USA," the Ahmedabad-based company said on Thursday.
Bio-Pharm, Inc. (BPI), which has a 75,000 sqft manufacturing facility, boasts of 10 abbreviated new drug applications (ANDAs) already approved by the US Food and Drug Administration (FDA). It has another 10 ANDAs — or applications for approval of a generic drug product — under review at FDA while its partners have an additional 17 products under development.
Torrent Pharma said it plans further investments to expand the BPI facilities, including its research and development (R&D) capabilities, and increase the number of product filings from BPI.
This is the third acquisition for Torrent Pharma in the last three years. Last year it had acquired India business of UnichemBSE 0.55 % to strengthen its presence in the domestic market.