Propelled by the increasing regulation in the pharmaceutical sector, Torrent Pharma Malta has launched a new programme to further improve the logistics with its suppliers to ensure that all necessary standards and regulations are met and that risks are properly managed.
Described as “groundbreaking” Torrent Pharma’s Supplier Quality Management Programme is the first of its kind for Malta’s pharmaceutical industry, designed to comprehensively address compliance within its widest scope and covers information security management systems, procurement processes, management of technical services, and financial governance.
“We are in the business of saving lives and this makes us responsible for the patients that consume our products. However, our suppliers have an equally strategic importance to our operations and this is why our newly launched programme also incorporates a third-party risk management framework to implement our ‘Know Your Supplier’ obligation,” said Frederick Schembri, General Manager of Torrent Pharma (Malta) Ltd.
“This three-year cycle features a comprehensive framework for planning, organizing, and managing supplier relationships throughout all stages of the contractual period, including pre-and post-contract phases to enhance supplier engagement, transparency, and collaboration while minimizing associated risks,” added Schembri.
Established in 2021, Torrent Pharma Malta is a subsidiary of Torrent Pharmaceuticals Ltd, the flagship of Torrent Group, one of the leading pharmaceutical companies in India.
In 2022, the company announced a €22 million investment in a new plant in Malta as part of its expansion plans in the EU. Located in Ħal Far industrial estates, the company offers warehousing and secondary packaging, analytical testing, and batch release for sterile and non-sterile conventional products for Torrent’s European markets.
Torrent Pharma Malta tests an estimated 15,000 batches per annum, positioning it among the largest testing facilities in Europe.
“Today’s pharmaceutical sector is a very important niche for Malta’s economy and standards are extremely important. We believe that by maintaining open dialogue, transparency, and honesty, we can work together to achieve the high standards we require,” concluded Schembri.
With a Return on Capital Employed (ROCE) of 28% and annual revenue of EUR 1.2 billion, Torrent Pharma is one of the top six pharmaceutical companies in India by market capitalization. The company’s Operating EBITDA stands at €370 million, underscoring its robust financial performance.