JB Chemicals settles claims raised by Cilag GmbH International and Johnson & Johnson

JB Chemicals & Pharmaceuticals has reached a settlement of all the claims raised by Cilag GmbH International and Johnson & Johnson LLC. Pursuant to this, an amount of Rs 64.50 crore would be released from Escrow Account to Cilag GmbH International and the balance amount of Rs 73.07 cores in the Escrow Account would be released to the company itself.

JB Chemicals & Pharmaceuticals is engaged in manufacturing of pharmaceutical specialties in various dosage forms, herbal remedies, diagnostics, generic drugs, active pharmaceutical ingredients (APIs).