Torrent Pharma Eyes Brazil Semaglutide Launch as Q2 Revenue Surges 38%
Ahmedabad: Torrent Pharmaceuticals reported a 38 per cent year-on-year increase in revenue from Brazil during the September quarter of FY27 and is preparing to expand its semaglutide business into the market within the next six to nine months, Managing Director Aman Mehta stated. The company is looking to build on the growth momentum in Brazil, where the entry of a major local player into the generic semaglutide segment has accelerated market expansion over the past three months.
Semaglutide is a glucagon-like peptide-1 (GLP-1) receptor agonist used to treat Type 2 diabetes and, in certain formulations, obesity. Ahmedabad-based Torrent Pharmaceuticals has launched the drug in India so far and is now planning to enter Brazil. Speaking during a recent earnings call, Mehta stated that the company optimistically expects to launch semaglutide in Brazil within the next six to nine months.
Torrent's Brazil revenues reached Rs 440 crore in the second quarter of FY27, registering a 38 per cent year-on-year increase. In constant-currency terms, revenue rose 20 per cent to 236 million Brazilian reais. According to IQVIA data, Torrent grew 26 per cent during the quarter, compared with overall market growth of 6 per cent, supported by the performance of its leading brands and new product launches.
The company has 53 products under review with Brazil's health regulator, the National Health Surveillance Agency (ANVISA). During the first half of FY27, revenues from Brazil increased 34 per cent to Rs 717 crore, while constant-currency revenue rose 13 per cent to 383 million Brazilian reais. Mehta added that the company expects its Brazilian business to continue growing at a double-digit rate in the mid-teens range, supported by momentum from new launches and other business segments.
Torrent operates four business units in Brazil: cardiovascular and diabetes, central nervous system (CNS), generics and non-retail. According to Mehta, all four units are performing well and contributing to the company's growth in the market.
In India, Torrent is working to recover its market share in injectable semaglutide after a supply disruption kept the product out of the market for nearly two months. The company onboarded a new manufacturing partner and restored supplies by September. Mehta confirmed that Torrent recorded a combined market share of 32 per cent in oral and injectable semaglutide during the second quarter, according to the Pharmatrac dataset. In the oral segment, the company continues to hold more than 90 per cent of the market among generic players.
The supply disruption resulted in some loss of market share in injectable semaglutide. However, the September relaunch and subsequent recovery in sales have strengthened the company's confidence in regaining a substantial portion of the lost share in the coming months. Torrent had estimated the Indian generic semaglutide market at around Rs 800 crore in its first year and believes it remains on track to reach that level. Mehta further stated that the market could grow rapidly during its first couple of years before stabilising in the third or fourth year, although it is too early to estimate its size over the next four to five years.
Regarding pricing, Torrent expects the price per patient and per product to remain broadly stable because semaglutide is marketed as a branded business. Mehta indicated that prices could remain stable or increase gradually over the next couple of years.
The company does not expect any change in its medical representative workforce, which currently stands at around 9,100, during the current year. Torrent plans to review the possibility of expanding the workforce in the coming months, with the headcount potentially increasing to 9,500–9,600 next year, depending on business requirements.
In Germany, Torrent continues to face challenges from supply-related issues and government-mandated price reductions, which have affected its non-retail business. Mehta expects a slight decline over the coming quarters, with stability likely to emerge after three to four quarters, reports The Hindu BusinessLine.
