JB Chem to review Russia business

Our Bureau Updated - November 12, 2017 at 12:07 PM.

Drug-maker JB Chemicals and Pharmaceuticals' flagship business in Russia will be reviewed this Monday. Russia accounts for about half the company's estimated Rs 740 crore turnover.

The process could see a total or part exit, involving the sale of its flagship cough and cold brand Doktor Mom, Rinza in the anti-cold and anti-flu segment and Metrogyl, an anaerobicide, an industry source familiar with the development said.

The company's top three brands in Russia account for about 90 per cent of sales, the company told analysts last year.

In a statement to the BSE, the company said that its board would meet this Monday to review its pharma business in Russia-CIS countries and consider the disinvestment of businesses or part of it to strengthen its business in India and other parts of the world.

In a July presentation last year, JB Chem said it employs about 180 people in Russia, 104 in Ukraine, 53 in Uzbekistan, 34 in Kazakhstan and 31 in other CIS countries.

Among the unconfirmed names of suitors doing the round to buy JB Chem's flagship brands in Russia - is multinational drug-company Johnson and Johnson, at valuations of about $ 200 million.

JB Chem's stock price on the BSE closed at Rs 157, down about four per cent on Friday.

Published on May 20, 2011 16:59