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.
“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.
Industry 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.