Torrent Pharmaceuticals

Torrent Pharmaceuticals, a leading Indian pharmaceutical company, has been levied a Rs 41 crore penalty for Goods and Services Tax (GST) non-compliance. The penalty follows a government review of tax filings and regulatory adherence, highlighting the importance of rigorous compliance in India’s heavily regulated pharmaceutical sector. Torrent Pharma, which operates across domestic and international markets, is expected to address the discrepancies promptly to avoid further legal and financial implications.

Torrent Pharmaceuticals has received demand notices totaling Rs. 6.63 crore from India’s National Pharmaceutical Pricing Authority (NPPA) for alleged overpricing of five drug formulations between January 2016 and November 2018. The notices, issued under Paragraph 15 of the Drug Price Control Order (DPCO) 2013, require the company to refund the purported excess amount charged.

Torrent Pharmaceuticals is set to acquire JB Chemicals in a landmark deal worth Rs. 19,500 crore, marking one of the largest acquisitions in India’s pharmaceutical industry. This strategic move not only strengthens Torrent’s position in the domestic branded generics market but also enhances its global footprint, particularly in regulated markets. The acquisition brings together two complementary portfolios, promising strong synergies across therapeutic areas and geographies.