Stockrabit · Analysts
Questions across 3 calls

Sanjay Gupta

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Torrent Pharmaceuticals Limited

Torrent Pharmaceuticals Limited CC-Feb26.pdf · 2026-02-13
So, we are a very small player. We do $35 - $36 million a quarter. And it's really dependent upon new launches, but also upon the level of competition that we see in the new launches. So, we have a healthy pipeline, and we are augmenting the pipeline for the U.S. But it's hard to give guidance today. It depends really on when the new launches happen and the competitive landscape at that point in time.
So, we do not think we will be the first one to launch, right? So, I don't know. It will be somewhere in the range of between 3rd to 5th launch. And we filed Ozempic, which is today a $270 million market. And the rest is, as you know, has been taken over by Wegovy. So, Wegovy will come to us, but it's a little bit down the line. And I cannot really give guidance on Brazilian price erosion, because it depends really on how many players come to the market. And who are the players who come to the market? Some of the players are known for very aggressive pricing and some others are much more reasonable. But to be safe, you can take like at least a 50% price, 45% price erosion on the Brazilian market. But honestly, it's hard because it's been all over the map. So, I have seen price erosion of 90% on a couple of products. And I have seen price erosion of 20% also. It honestly depends upon the same thing, how many players and what's the nature of the players.
Torrent Pharmaceuticals Limited CC-Mar25.pdf · 2025-05-20
No, I prefer not commenting about individual product strategies. Actually, the approval for this product would not be so straightforward. So, it's hard to predict as to when we would be on the market. So, I would refrain from making predictions about Torrent and about our peers.
So, I will speak about the top line in local currency and maybe Sudhir will answer the question on the currency and the EBITDA margin impact. So , on a like-to-like, on a constant currency basis, we expect the business to grow in double digits. So , in the range of 10% to 12%, a few percentage points higher than the market. So, the last two years, we have seen the market grow at about 9%. So, we expect to be higher than that by 2% to 3% points.