Torrent Pharmaceuticals Targets Brazil for Semaglutide Launch Amid Strong Q2 Growth

Torrent Pharmaceuticals is preparing to launch semaglutide in Brazil over the next six to nine months. Managing Director Aman Mehta announced the expansion plan during a recent earnings call, noting that the company seeks to build on strong regional performance.

Semaglutide is a GLP-1 receptor agonist utilized for treating Type 2 diabetes and obesity in specific formulations. While Torrent has thus far launched the drug exclusively in India, it is now eyeing the Brazilian market. Mehta pointed out that the entry of a large local player into Brazil's generic semaglutide market has accelerated overall growth over the past three months. The company has 53 products currently under review with Brazil's health regulator, ANVISA.

Torrent reported that its Brazil revenues reached ₹440 crore in the second quarter of FY27, marking a 38 per cent year-on-year increase. In constant currency terms, revenues rose by 20 per cent to 236 million Brazilian reais. According to IQVIA data, the company grew 26 per cent during the quarter against a market growth rate of 6 per cent, driven by leading brands and new launches. For the first half of FY27, Brazil revenues totaled ₹717 crore, a 34 per cent increase year-on-year.

Mehta stated that Brazil is expected to maintain double-digit growth in the mid-teens range, supported by momentum from new launches and existing business units. Torrent operates four business units in Brazil covering cardiovascular and diabetes, central nervous system, generics, and non-retail sectors.

In the domestic market, Torrent is actively working to recover market share in injectable semaglutide following a supply disruption that kept the company out of the market for nearly two months. Supplies were restored in September after onboarding a new manufacturing partner. For the combined oral and injectable segments, Torrent recorded a Q2 market share of 32 per cent based on Pharmatrac data. The company maintains over 90 per cent share within the generic players for the oral segment.

Mehta noted that while the supply disruption impacted injectables, the September relaunch supports expectations of recovering lost ground. Torrent values the initial Indian generic semaglutide market at approximately ₹800 crore in its first year and expects rapid growth before market stabilization in subsequent years. Pricing per patient is anticipated to remain stable or increase gradually as a branded product line.

Regarding workforce plans, Torrent intends to keep its medical representative count steady at around 9,100 this year, with a potential increase to 9,500-9,600 next year depending on business needs. Meanwhile, operations in Germany continue to face headwinds from supply issues and government-mandated price reductions, leading to expectations of a slight decline over the coming quarters before stabilization.

"Expansion into international markets like Brazil presents a clear strategic opportunity for established pharmaceutical firms looking to diversify revenue streams. Torrent's ability to navigate supply chain disruptions domestically while preparing for overseas launches highlights the importance of operational resilience in scaling complex drug portfolios across geographies." — Dr. Shishir Gupta, Founder & CEO, StartupLanes