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The acquisition is expected to be completed in March 2025. Torrent has been marketing these brands since 2022 as part of an existing co-marketing agreement with Boehringer Ingelheim India.
Empagliflozin is a novel sodium-glucose co-transporter-2 (SGLT-2) inhibitor which is indicated for glycemic control in adults with type 2 diabetes mellitus. The market for SGLT-2 inhibitors is valued at ₹3,235 crore and the SGLT-2 inhibitors are growing faster than the diabetes market at 25% CAGR.
Also Read: Torrent Pharma Q2 Results | Net profit up 17%, revenue grows 9%
As per the International Diabetes Federation, India has the second-largest diabetes patient base in the world with an estimated 74.2 million adults (20-79 years age group) as of 2021. This is expected to increase to almost 125 million patients by 2045.
According to AWACS MAT October 2024 data, the Indian diabetes medication market is valued at ₹19,912 crore, growing at 7.7% CAGR over the last four years.
Aman Mehta, Director at Torrent Pharmaceuticals, said, “As we continue to strengthen our diabetes care portfolio, we will ensure continued access to the treatment for patients whilst building on our presence in the oral anti diabetic market.”
Shares of Torrent Pharmaceuticals Ltd ended at ₹3,346.85, down by ₹14.75, or 0.44%, on the BSE.
(Edited by : Shoma Bhattacharjee)
