Torrent Outlook Muted On COVID-19
Levittown Unit Production Seen In Fiscal Q3
Executive Summary
After a tepid performance in the fiscal fourth quarter, Torrent expects its key markets India, US and Brazil to be impacted by the COVID-19 fallout as well as a lack of visibility on regulatory approvals for its manufacturing facilities.
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An early assessment of the impact of COVID-19 on the Indian pharmaceutical market by IQVIA suggests a significant tapering of growth in 2020, along the lines of similar expectations in some other Asian nations. Some industry experts are endorsing the strained outlook, at least for now.
Regulatory Overhang Hurts Torrent
Torrent has tempered US growth expectations while it plans to put its Dahej, Indrad and Levittown plants up for FDA inspection in 2020. Meanwhile, products launched in India, including remoglifozin in-licensed from Glenmark, have shown an encouraging uptake.
Torrent Sees Fortunes Affected By Regulatory Overhang
Torrent has tempered FY21 US growth expectations while it plans to put Dahej, Indrad and Levittown plants up for FDA inspection in 2020. Meanwhile, products launched in India, including remoglifozin in-licensed from Glenmark, have shown an encouraging uptake.