Sudhir Mehta steps down as Director of Torrent Pharma
Ahmedabad: Torrent Pharma has announced that Sudhir Mehta has stepped down as Director of the Company effective 31-Mar-24. He will continue to be Chairman Emeritus.
Born in 1954, Mr. Sudhir Mehta formally joined the family business in the early 70s. After completing his education, Mr. Mehta joined his father in managing the affairs of Torrent Pharma. He brought great dynamism and large business acumen to the Group, resulting into the initial success of Torrent Pharma, the flagship company of the Torrent Group. He was instrumental in the commissioning of its first manufacturing facility at Ahmedabad and bagging the first export order to Russia.
The astute businessman in Mehta was quick to foresee the emerging opportunities in the power sector. He led Torrent’s foray into this sector by the acquisition of the ailing Mahendra Cables in late 80’s, TCL Cables Private Limited. This was followed by the acquisition of Ahmedabad Electricity Company and Surat Electricity Company in the early 90’s; now part of Torrent Power Ltd. Mehta took over as the Chairman of the Torrent Group in 1998 after the demise of his father, UN Mehta.
The Company has further informed that Shailesh Haribhakti and Haigreve Khaitan have completed their tenure as Independent Directors of the Company on 31-Mar-24, pursuant to which they ceased to be the Directors of the Company.
Read also: Torrent Pharma reports 52 percent increase in profit after tax to Rs 443 crore for Q3
Torrent Pharma today has a presence in various therapeutic segments with seven operational manufacturing plants and a state-of-the-art research centre. Torrent Pharma’s global operations are spread across 40 countries with wholly owned subsidiaries in most major markets.
The acquisition of Elder Pharma's Indian branded business in 2013, Dermaceutical business of Zyg Pharma in 2015, API plant of Glochem Industries in 2016, women healthcare brands from Novartis and Unichem's Indian branded business and its Sikkim Plant in 2017 strengthened Torrent Pharma's position.
Read also: USFDA successfully closes inspection at Torrent Pharma Gujarat facility
