TORRENT PHARMACEUTICALS LTD. - Torrent Pharmaceuticals Ltd reply to clarification sought by the exchange
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| 26 Dec 2014 | |
| The Exchange had sought clarification from Torrent Pharmaceuticals Ltd with respect to news appearing in Business Standard on December 26, 2014 titled "Torrent Pharma, Reliance Life sign licence agreement for biosimilars."<BR> <BR>Torrent Pharmaceuticals Ltd replied stating "We would like to inform that the Company, in the ordinary course of business, do take on license various products and also give license of its various products to third parties. In line with this, the Company has, during last one month, entered into licensing agreements with Reliance Life Sciences for marketing of three biosimilars in Indian market. These products are at various stages of developments / Regulatory approvals.<BR><BR>Considering Company's size of operations, in our view, these transactions are not material in nature and do not have any significant impact on the performance of the Company and hence does not qualify for intimation to Stock Exchanges under clause 36 of the Listing Agreement.<BR><BR>As a responsible listed organization, we do inform the exchanges of all information which require to be disclosed, on timely basis in terms of the Listing Agreement and will keep the exchange informed in future as well." | |
| View all announcements for TORRENT PHARMACEUTICALS LTD. | Source: BSE India |
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