Comments
JB Chemicals and Pharmaceuticals has agreed to buy the entire Razel (Rousvastatin) franchise for India and Nepal from Glenmark Pharmaceuticals, for ₹314 crore.
The move marks the company’s entry into statins, the largest therapeutic segment in cardiology, said Nikhil Chopra, Chief Executive and Whole Time Director with JB Pharma (as the company now calls itself). Acquisitions will continue to be part of the company’s plans, Chopra told businessline.
Related Stories
TPG Capital acquires Poonawalla Housing Finance
Deal valued at ₹3,900 crore; TPG to additionally infuse ₹1,000 crore of capital“With this addition, we now have established strong position in statins besides being among the leaders in hypertension and heart failure — all the fastest growing therapeutic indications in cardiology,” he added. The acquired brands are focused on the cardiac segment in India and Nepal with a total market size of ₹2,444 crore, according to industry estimates.
The strategy
Earlier this month, the company had halved the price on critical heart failure drug “Azmarda” (Saccubutril-Valsartan 50 mg) to ₹39.6 per tablet, from ₹78. The move was expected to reduce overall monthly treatment from ₹4,500 to ₹2,200, Dilip Singh Rathore, President (Domestic Business) with JB Pharma, had then said.
Related Stories
Shriram Properties acquires plotted development project in North Bengaluru
The transaction involves capital commitments of up to ₹125 crore for the acquisition and development of the projectIndustry estimates pegged Saccubutril- Valsartan at ₹500-odd crore. The molecule is presently patented by Novartis AG, and four companies, including Novartis, are in the Indian market. The molecule is expected to go off-patent in January 2023, JB Pharma said. In April 2022, the company had acquired the Azmarda brand from Novartis AG, for the India region for ₹246 crore.
JB Pharma had ended the three month period, upto September 30, 2022, with revenues of ₹809 crore and profit after tax of ₹111 crore.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.