Torrent Pharma recorded revenue growth of 35 percent year-over-year in the third quarter to Rs 159 crore, as reported Business Standard Wednesday.
A company spokesperson explained devaluation of the Brazilian currency due to political and economic turmoil in the country had overshadowed growth in the market.
The drugmaker anticipates strong double-digit growth for the Brazilian market in the 2017 fiscal year.
"Torrent's roots are in the branded generics business in our home country of India," the spokesperson stated, continuing "our strategy is to continue to strengthen our branded generics business in the relevant markets."
The company has launched two products, Olmecor and Loredon, in the fiscal year, while the spokesman added that the company aims to launch another six products by 2020.
"Going forward, our aim is to submit between five to ten products per year" for regulatory approval, the spokesperson said.
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