Torrent Pharmaceuticals saw its stock rise by 2.37% to ₹3,178.15 after the United States Food and Drug Administration (USFDA) issued an Establishment Inspection Report (EIR) with a ‘Voluntary Action Indicated’ (VAI) classification for its manufacturing facility located in Pithampur, Madhya Pradesh.
The inspection, which took place from 16 to 20 September 2024, concluded with a Form FDA 483 being issued, containing a single observation. However, the inspection has now been successfully closed, and the USFDA has issued the EIR with the VAI classification, indicating that while corrective actions are required, they do not warrant regulatory or enforcement action.
This positive regulatory update has contributed to a boost in investor confidence, reflected in the upward movement of Torrent Pharmaceuticals’ stock.
In financial terms, Torrent Pharmaceuticals reported a consolidated net profit increase of 17.35% in Q2 FY25, amounting to ₹453 crore. This growth was achieved on the back of an 8.6% rise in revenue from operations, which totaled ₹2,889 crore, compared to Q2 FY24.
Torrent Pharmaceuticals, the flagship company of the Torrent Group, holds a significant position in the Indian pharmaceutical market, ranking 6th overall. It is also a leader in key therapeutic areas, including cardiovascular, gastrointestinal, central nervous system, vitamins, minerals, nutritional products, and cosmo-dermatology.
The company’s strong financial performance, combined with the successful resolution of the USFDA inspection, reinforces its standing as a trusted player in the pharmaceutical industry.
