Torrent set to be 5th largest pharma co – OXBIG NEWS NETWORK-OxBig News Network

New Delhi: Following the acquisition of JB Chemicals & Pharmaceuticals (JB Chem), Torrent Pharma is set to become India’s fifth-largest pharmaceutical company (up from seventh), capturing a 4.6% share (up from 3.6%) of the Rs 2.3 lakh crore organised retail market. Significantly, the deal propels Torrent to become the number one player in the over Rs 30,000 crore cardiac therapy market (moving annual total or 12-month period ended May 25), overtaking the leader Sun Pharma, from an existing 7% to nearly 11% share (MAT May 25). Sun Pharma leads the highly fragmented market with sales of just over Rs 19,000 crore and an 8.3% share (MAT May 25). The Ahmedabad-based firm, flagship of the Torrent group, follows Cipla, which has a 5.2% market share. The Torrent scrip closed nearly 2% higher at Rs 3410, while the discounted open offer price saw JB Chem’s stock price plunging by over 6% to Rs 1680 on the BSE on Monday.