India’s Torrent Pharma posts Q2 profit rise on strong demand

Torrent Pharmaceuticals, an Indian drugmaker, reported a nearly 24% increase in second-quarter profit, reaching 3.86 billion rupees ($46.4 million), driven by strong demand in the domestic market and Brazil. Revenue from operations rose by 16.1%, with sales increasing by 18% in India and 36% in Brazil. The company is in talks with private equity firms to raise funds for a potential bid for Cipla, which could become the largest deal in the Indian pharma sector.