JB Chemicals & Pharmaceuticals
(JB Pharma), one of India's fastest-growing pharmaceutical companies, has agreed to buy the Razel (Rousvastatin) franchise for India and Nepal from Glenmark Pharmaceuticals Ltd
for Rs 314 crore.
Subject to customary closing formalities, the transaction is expected to close within the next two weeks.
JB Pharma is now a part of the 'Statin' segment, which is the largest group in cardiac therapy. Razel ranks among the top 10 brands in the Rousvastatin molecule segment in the country.
With this addition, the company has established a strong position in statins in addition to being among the leaders in hypertension and heart failure - all of which are the fastest-growing therapeutic indications in cardiology.
This acquisition will allow the company to better leverage its existing Go-To-Market model for this segment and strengthen its chronic portfolio.
At around 10.32 AM, JB Pharma was trading at Rs2,050 per piece, up by 1.26% from its previous closing of Rs2,024.45 on the BSE. The scrip opened at Rs2,055 and touched an intraday high and low of Rs2,057.25 and Rs2,036.85 respectively.
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