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Torrent Pharmaceuticals Ltd. Company History and Annual Growth Details

1972 - The Company was incorporated on 15th July, as a Private Limited Company by Shri Rajnikant C. Patel and his family members, and in June 1982, the company was acquired by Shri Uttamlal N. Mehta.

- The Company is primarily engaged in the manufacture of various Pharmaceuticals formulations and bulk drugs. The products of the Company enjoy good reputation and are well accepted in the market.

- The Company has taken up manufacture of bulk drugs as a strategic value added backward integration to its formulation activities.

1989 - On 28th June the Company became a deemed Public Company under the provisions of Section 43-A of the Act and by a Special Resolution passed on 25th July, 1992 at the Annual General Meeting, the Company became a Public Limited Company within the meaning of Section 3(1)(iv) of the act and adopted a new set of articles.

1992 - Torrent Laboratories Limited, was amalgamated with the Company with effect from 1st April by an order of the Honourable High Court of Gujarat, dated 22nd December.

- The Company proposes to undertake an expansion-cum modernisation of its existing facilities, setting up facilities for manufacture of new products apart from setting up a separate in-house Research & Development Centre.

- The Company further broad base its product range through in-house manufacture of Ranitidine HCL, Diltiazem, HCL and Atenolol with an installed capacity of 12 tpa each.

- The company proposes to set-up in-house production facilities for Large Volume Parentrals with an installed capacity of 14.5 million bottles p.a. for better quality control and for diversifying the product range to include dextrose/saline injectibles and value added items like fluconazole infusion.

1993 - The Company proposes to modernize its present manufacturing facilities located at Vatva and Chhatral to conform to the GMP requirements as also to incorporate the latest technology available in the field.

- During the year, Torrent Medi-Systems Limited (TMSL) was merged with the Company with effect from 1st April consequent to the scheme of amalgamation approved by the Honourable High Court of Gujarat.

- The Company proposes to install 2 nos. 100 cfm air compressors to meet the additional requirement of compressed air.

- The Company has issued 12,88,400 No. of Equity shares of Rs 10 each as fully paid bonus shares to the shareholders in the ratio of one share for every one share held by them on 7 August.

- The Company has issued 1,25,49,056 No. of Equity shares of Rs 10 each as fully paid bonus Shares to the shareholders in the ratio of 487 shares for every 100 shares held by them on 12 November.

1994 - The Company issued 1,74,144 Equity Shares of Rs.10 each as fully paid up shares to the shareholders of TMSL after cancelling 9,300 Shares held by the Company in TMSL.

- The Company was the first to launch ranitidine (Ranitin), nifedipine (Calcigard,) atenolol (Betacard), domperidone (Domstal), diltiazem (Dilzem), amiodorane (Cordarone), Lisinopril (Listril), etc. in the Indian market.

- The Company is a leader in the Cardiovascular segment with a number of brand leaders in its product portfolio like Dilzem, Cordarone, Listril, etc.

- Torrent occupies the third position in the industry in Gastro-Intestinal Drugs segment with well established products like Ranitin, Topcid, Domstal, Omizac, etc.

- During the year the Company launched a number of new products like Zirtin, Tyklid, Flutamide and Topcef, all of which were well received in the market place.

- The Company has created specialized `Disease Management Groups' top strengthen promotion of Psychotropic and Cardiovascular products.

- During the year manufacturing of several other new bulk drugs was also undertaken like Norfloxacin, Ciprofloxacin, Ranitidine, Atenolol, Diltiazem, etc.

- The Company is considering technical tie-ups with Indian and Foreign research institutes for new molecules in the chemical and biotechnology spheres and for pharmacological screening of new compounds.

1995 - During the year the Company launched a number of new products like Lomef (Lomefloxacin), Dilzem Inj. (Diltiazem), Depidol LA (Haliiperidiil Decanoate) Oncoden (Ondancetron), Nimotide (Nimodipne), Pefcin (Pefloxacin) which have gained wide acceptance in the pharmaceutical market.

- The Company proposes to introduce OA/GYN and General Purpose Radiology with a new marketing tie-up with Dynamic Imaging of UK.

- The Company proposes to launch new molecules to strengthen its product portfolio and to consolidate leadership in the relevant therapeutic segments.

- The Company has entered into a strategic alliance with Pfizer Inc. USA the fourth largest pharmaceutical company in the world.

1996 - During the year, your company introduced six new drugs, Lozapin, a drug of therapeutic choice to treat resistant Schizophrenia, was made available for the first time in the country. All the six new drug introductions, comprising, Licab XL, IV Metro, Vasotrate, Clonotril and Teralfa were received enthusiastically by the medical fraternity.

- During the year, it has also set up a state-of-the-art information management system.

- The company introduced Lamitor (Lamotrigine) an advanced anti-epileptic, Serenata (Sertraline) - an anti-depressant - and Tozar (Losartan), an anti hypertensive under a new class of molecules called Angiotensin II inhibitors. It also launched Syscan (flucanozole) eye
drops for the treatment of ophthalmic fungal infections.

1997 - The company has strategic alliances with world-renowned pharmaceutical giants like Sanofi, France, for cardio-vascular produces; and Novo Nordisk, Denmark, in the area of diabetic care.

- Torrent has become one of the largest exporters of medical formulations from India, with sales in over 70 countries and a network of overseas marketing offices.

- Torrent Pharmaceuticals Limited, a pharmaceutical company belonging to Torrent Group, has entered into an agreement with Sanofi Pharma of France, to launch a 50:50 joint venture company, Sanofi Torrent India to develop the Indian and global pharmaceutical industry.

1998 - Other new products introduced in the market include Normabrain 800 and Amlocar which have been well received by the medical fraternity. The company's drug Lozapin for the treatment of resistant schizophrenia also is amongst the first time launch in the country.

- The Mehtas-controlled Torrent Pharmaceuticals Ltd is seeking tie-ups for molecular research in therapeutic segments such as anti-infectives, cardio-vascular and neuropsuchiatry.

- The company has a tie-up with the Denmar-based Novo Nordisk to manufacture and market insulin and a venture with the French firm, Sanofi.

1999 - Among the new products launched recently included Nikoran IV for critical care in cardiology and a novel drug approved for launch in the anti-epileptic category.

2000 - Torrent Pharmaceuticals covers various therapeutic groups such as cardiovascular formulations, psychotropic formulations and gastro-intestinal drugs. Apart from this, the company has a marginal presence in the bulk drugs segment. It has tie-ups with various international majors.

- The flagship company TPL has undertaken a major restructuring. exercise by creating three distinct divisions to give focus on mega brands, super speciality and sub-speciality products respectively.

- The Company has launched a new product Eurepa (repaglinide) with a therapeutic profile suited to Indian type-II diabetic patients.

2001

- The Company has launched all over the country an oral anti impotence drug `Androz' (sidenafil nitrate).

- The Company has launched De Platt (clopidogrel) the drug of choice for treating heart attack and stroke.

2002

-Torrent Pharmaceuticals has launched leflunomide - a new generation rheumatoid arthritis drug, at a big discount to its innovator, multinational Aventis Pharma.

-Torrent Pharma’s manufacturing facilities certified with ISO 14001:1996.

-Torrent’s R&D Centre received ISO/IEC 17025:1999 for its facilities by National Accreditation Board for Testing and Calibration Laboratories (NABL).

2003

-Torrent Pharma sets up a wholly owned subsidiaries in Germany and Brazil.

-Torrent Pharma launches 'Aripiprazole' new antiseptic drug under the Brand name
of Arip MT.

-a) New API manufacturing plant for catering to regulated markets; (b) New formulations facilities at one or more locations for catering to regulated markets & meeting the anticipated growth in the domestic market. ii) Incorporate a wholly owned subsidiary in USA.

-Torrent unveils COX 2 variants
-IDMA Quality Excellence Award Gold Trophy for its formulations and API facilities.

2004

-Torrent Pharma launches Ecogat

-Torrent Pharmaceuticals Ltd, in association with State Mental Health Authority, Health and family Welfare Department, launches 'Sanidhya - Torrent Medical Healthline' in Bhat near Gandhinagar in Gujarat

-Torrent, the Indian pharmaceutical major, announced the launch of Rozucor - the New "Super Statin" in Karnataka.

-Torrent Pharmaceuticals Limited (TPL) has signed a non-exclusive agreement with Dr. Reddy's Laboratories Limited (DRL) for licensing and supplying the formulation of one of Torrent's blockbuster drug 'Domstal O' in the Gastro Intestinal segment

-Torrent Pharmaceuticals Ltd has launched Etoricoxib, the new generation anti-arthritic drug under the brand name Torcoxia

-Launches Duloxetine, a new-age anti-depressant under the brand name `Symbal'.

2005

-Torrent Pharmaceuticals Ltd launches a new anti-epileptic drug Levetiracetam

-Torrent acquires Pfizer generic subsidiary in Germany

-Torrent Pharmaceuticals signs agreement with Novo Nordisk, Denmark to establish new, dedicated formulation and packaging facility for Insulin, exclusively for Novo Nordisk

2006

-Torrent Pharma Receives USFDA Approval

-Torrent’s Azuca launches 2 new blockbusters, Pregeb and Piopod

-Entered into an in-licensing deal with Tasly of China to market its Cardiotonic pill in India

-Torrent Pharmaceuticals Ltd has announced that the Company has launched Nexpro Fast (Immediate Release Esomeprazole), a Proton Pump Inhibitor (PPI), for the first time in India to treat peptic ulcers and GERD (Gastro Esophageal Reflux Disease).

-The API and formulations manufacturing facilities located at Indrad (Gujarat, India) got US FDA approval

-Torrent Pharma launches AzuCa, its super-specialty Diabetes division

-Torrent Pharmaceuticals has given the Bonus in the Ratio of 1:1

-Company has splits its Face value of Shares from Rs 10 to Rs 5

2007

- Torrent unveils laxative in tablet form

-Torrent Pharma launches CVpill, The world’s first ‘polypill’ in Cardiac care

-Indians to get slimmer and fitter: Torrent Pharma launches Rimoslim; India’s first Rimonabant

-Torrent Pharma launches Fibotab; India’s first bulk laxative in tablet form

2009

-Torrent’s New Insulin Facility to produce 26 million vials pa for Novo Nordisk

2010

- The Board has recommended a dividend of Rs. 6.00 per equity share having face value of Rs. 5/- each.

2011

- Torrent Pharma gets US FDA approval for alfuzosin hydrochloride extended release tablets.

- Board have recommended a normal annual dividend of Rs. 6 per equity share of Rs. 5/- each and a special dividend of Rs. 2.00 per equity share of Rs. 5/ each fully paid up.

2012

- The Board has appointed Haigreve khaitan as Additional Director.

- The Board has recommended a final dividend of Rs. 2.50 per equity share.

2013
-Torrent has acquired Indian Branded Formulations Business of Elder.
-Torrent has recommended to issue bonus shares in the ratio of 1: 1 i.e. one equity bonus share for each fully paid up equity share.

2014
-Torrent enters into exclusive licensing agreement with Reliance Life Sciences for 3 biosimilars.
-Drug maker Torrent Pharma on Monday got an exemption from price control for one of its newly developed fixed dose combination (FDC) products.

2015
-Torrent Pharmaceuticals has completed acquision of Zyg Pharma Pvt Ltd.
-Torrent Pharma has commenced commercial operations at its new plant in Dahej

2016
-Torrent Pharma launches Adalimumab biosimilar in India
-Torrent Pharma's Dahej Plant receives EIR from US FDA
-Torrent Pharma acquires Manufacturing Unit of Hyderabad based Glochem Industries Limited

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