JB Chemicals & Pharmaceuticals has entered into an agreement with Glenmark Pharmaceuticals to acquire the Razel (Rousvastatin) franchise for the India and Nepal region. The transaction is expected to be closed within next two weeks subject to customary closing formalities. The company sees growth potential from the acquired portfolio as it is synergistic with its cardiac segment and will help it leverage its Go to Market Model. Further the products provide good operating leverage and are margin accretive, given its attractive margin profile. Cost of acquisition is Rs 313.7 crore (excluding working capital and taxes).
JB Chemicals & Pharmaceuticals is engaged in manufacturing of pharmaceutical specialties in various dosage forms, herbal remedies, diagnostics, generic drugs, active pharmaceutical ingredients (APIs).
