Latest news with #NationalPharmaceuticalPricingAuthority
Economic Times
20-05-2025
- Business
- Economic Times
Torrent Pharmaceuticals Q4 Results: Net profit rises 11% to Rs 498 crore
Torrent Pharmaceuticals Ltd on Tuesday reported an 11 per cent rise in consolidated net profit at Rs 498 crore in the fourth quarter ended March 2025. The company, which had posted a consolidated net profit of Rs 449 crore in the corresponding quarter previous fiscal, announced the appointment of Aman Mehta -- elder son of Torrent Group Chairman Samir Mehta -- as Managing Director, effective August 1, 2025 as part of its succession planning. ADVERTISEMENT Consolidated total revenue from operations in the fourth quarter stood at Rs 2,959 crore as against Rs 2,745 crore in the same period a year ago, Torrent Pharmaceuticals Ltd said in a regulatory filing. Total expenses in the fourth quarter were higher at Rs 2,252 crore as compared to Rs 2,145 crore in the year-ago period, it added. During the quarter, the company said it had an exceptional item outgo of Rs 24 crore to settle a litigation over alleged price overcharging and demand raised by the National Pharmaceutical Pricing Authority (NPPA) in 2017. In the fourth quarter, India revenue was at Rs 1,545 crore, up 12 per cent led by outperformance in focus therapies. On the other hand, Brazil revenue was at Rs 351 crore, down 6 per cent, impacted by steep Brazilian Real (BRL) depreciation, it added. US business revenue was at Rs 302 crore, up by 15 per cent, and Germany revenue was up 2 per cent at Rs 286 crore, the company said. ADVERTISEMENT For fiscal 2024-25, consolidated net profit was at Rs 1,911 crore as against Rs 1,656 crore in 2023-24, the company said. FY25 consolidated total revenue from operations stood at Rs 11,516 crore as against Rs 10,728 crore in FY24, it added. ADVERTISEMENT Torrent Pharma said its board has recommended the members to obtain enabling approval to raise up to Rs 5,000 crore through issuance of equity shares, including via convertible bonds/debentures through Qualified Institutional Placement (QIP) and or any other modes in the upcoming Annual General Meeting. The board also recommended a final dividend of Rs 6 per equity share of Rs 5 each. Earlier an interim dividend of Rs 26 per equity share was paid during the last quarter, it added. (You can now subscribe to our ETMarkets WhatsApp channel)
&w=3840&q=100)
Business Standard
08-05-2025
- Business
- Business Standard
NPPA fixes retail prices of 84 drugs, including empagliflozin combos
The National Pharmaceutical Pricing Authority (NPPA) has fixed the retail prices of 84 drug combinations, including 36 variants of the off-patent diabetes drug empagliflozin, originally developed by German pharmaceutical company Boehringer Ingelheim. The price revisions were approved during the 132nd meeting of the NPPA, held on 29 April. The authority is responsible for regulating prices of pharmaceutical products under the Drug Price Control Order (DPCO). The move follows the expiry of empagliflozin's patent on 11 March, which opened the market to generic versions by multiple pharmaceutical companies. The launch of these variants has led to a significant 80–85 per cent drop in prices, prompting regulatory action to fix retail rates. Several anti-hypertension drug combinations have also been brought under the revised pricing list, based on applications from companies such as Mankind Pharma, Alkem Laboratories, Lupin, Macleods Pharmaceuticals and Micro Labs. The updated list includes anti-diabetic combinations involving empagliflozin with glimepiride, dapagliflozin and sitagliptin, based on submissions from Mankind Pharma and USV. It also covers anti-inflammatory combinations such as mefenamic acid with paracetamol, as well as blood pressure drugs containing telmisartan, cilnidipine and metoprolol succinate extended release. The NPPA notification stated that any manufacturer or marketing company failing to comply with the fixed retail prices would be required to deposit the overcharged amount, along with applicable interest, under the relevant provisions. Fixation and revision of ceiling and retail prices is a routine exercise undertaken by the NPPA, which is tasked with enforcing the provisions of the DPCO, regulating both controlled and decontrolled drug prices, and ensuring affordability of essential medicines.
