Torrent Pharmaceuticals is set to launch its semaglutide treatment in Brazil within six to nine months, following a 38% revenue growth in the region last quarter. The company has also restored its injectable supply chain in India, aiming to recover market share. Investors are monitoring how this expansion balances with ongoing price and supply chain pressures in the German market.
Torrent Pharmaceuticals is taking steps to expand its international footprint by planning a launch for its semaglutide product line in Brazil. The company expects this entry to take place within the next six to nine months, building on its existing presence in the diabetes and cardiovascular medicine segments in the region. This expansion comes after a strong performance in the September quarter, where the company reported a 38% year-on-year revenue increase in Brazil, totaling ₹440 crore.
Management is currently focused on sustaining growth in this region. The company has 53 products under evaluation by the Brazilian health regulator, ANVISA. Successfully navigating these regulatory processes will be a key factor for the company to capture more market share in the Latin American country.
While eyeing overseas opportunities, the company is also working to stabilize its domestic operations. A two-month supply disruption for its injectable semaglutide product had temporarily impacted its market position in India. However, the company onboarded a new manufacturing partner, which helped restore supplies in September. Data from Pharmatrac shows that the company currently holds a 32% market share in India for its combined oral and injectable semaglutide offerings. In the generic oral segment, Torrent maintains a strong position with over 90% of the market. The management team expects pricing for these drugs to remain stable in the near term as they focus on reclaiming the lost injectable market share.
Despite these developments, the company continues to face a complex operational environment in Germany. Government-mandated price cuts and persistent supply chain hurdles are expected to put pressure on the company's German non-retail business for the next three to four quarters.
For investors, the key area to monitor will be the pace of the Brazilian expansion and whether the company can successfully maintain its dominant market share in India. The ability to manage costs and pricing pressure in the German market will also be an important factor for overall profitability in the coming year. Additionally, the company is evaluating potential increases to its 9,100-person medical representative workforce, which will depend on future business requirements and project timelines.