November 22, 2013

Press Release No. 1

News about Torrent Pharmaceuticals Limited

The media had reports that "Torrent in talks to buy Elder India Biz".

The Exchange, in order to verify the accuracy or otherwise of the information reported in the media and to inform the market place so that the interest of the investors is safeguarded, had written to the company.

Torrent Pharmaceuticals Limited has vide its letter inter-alia stated, "We would like to submit that the news item is speculative in nature and it is the company's policy not to respond to any such speculative news item. As a growing company, we do continuously explore business opportunities organic as well as inorganic. In line with this approach, the Company has submitted a non-exclusive bid for certain business of Elder subject to various assumption and conditions, not yet complied with. At this stage, therefore, there is no crystalised proposal. Hence the matter is premature."

Press Release No. 2

News about Elder Pharmaceuticals Limited

The media had reports that "Torrent in talks to buy Elder India Biz"

The Exchange, in order to verify the accuracy or otherwise of the information reported in the media and to inform the market place so that the interest of the investors is safeguarded, had written to the company.

Elder Pharmaceuticals Limited has vide its letter inter-alia stated, “The Company has been exploring various options. However, at this stage no proposal has been crystallised.”

A copy of the detailed clarification is available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements).