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After taking charge as the Executive Chairman of the pharma arm of the ₹18,300-crore Torrent Group in 2014, Samir Mehta’s vision was to bring value to the company. Refraining from the ranking game, Mehta kept his focus on value-pick thereby opening new avenues to unlock future growth.
The Elder Pharma acquisition in late 2013 put Torrent Pharma in the league of top pharma conglomerates. Last month, in an interview with BusinessLine , Mehta had indicated his aggressive and definite growth strategies. “We continuously look for strategic inorganic opportunities as we believe they are integral part of our growth story,” Mehta said. The company eyes stronger position in the therapeutic areas of cardiovascular (CV) and central nervous system (CNS).
Mehta, the younger son of the founder of the Torrent empire late UN Mehta, has been associated with the company since 1986. It is under Mehta's leadership that Torrent Pharma is leading the consolidation of India's pharma sector. Having learnt tough lessons from the disintegration of the Soviet Union (USSR) in early 1990s, when the company had to face severe losses, Mehta consciously decided to keep his businesses diversified with strong focus on the Indian market.
Mehta carefully steered the company from the turbulence in overseas markets, including the US, and increased focus on the acquisitions for value-pick.
‘India, a dominant market’“India enjoys an important position in the global pharmaceutical markets. India has a dominant position driven by formulation development capabilities with branded generics making up for almost 70-80 per cent of the retail market. By 2021, India is likely to be the ninth largest market globally in absolute size,” Mehta had stated.
It was under the leadership of Mehta, the company pulled off several acquisitions including acquisition of ANDA drugs, dermatological formulations maker Zyg Pharma and USFDA-approved API unit in Vizag from Hyderabad-based Glochem Industries Ltd, besides the two women healthcare hormone brands from Novartis AG.
In its annual report for 2016-17, Torrent Pharma said, “The company continuously looks for opportunities in order to expand its product line either through complementary or strategic acquisitions of other companies, asset acquisition, licensing agreements or any other arrangement.”
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