JB Chemicals soars on settling claims raised by Cilag GmbH International and Johnson & Johnson

JB Chemicals & Pharmaceuticals is currently trading at Rs. 78.90, up by 3.80 points or 5.06% from its previous closing of Rs. 75.10 on the BSE.

The scrip opened at Rs. 77.00 and has touched a high and low of Rs. 80.05 and Rs. 76.00 respectively. So far 88790 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 96.40 on 26-Dec-2012 and a 52 week low of Rs. 64.10 on 17-Aug-2012.

Last one week high and low of the scrip stood at Rs. 83.40 and Rs. 73.80 respectively. The current market cap of the company is Rs. 650.16 crore.

The promoters holding in the company stood at 55.87% while Institutions and Non-Institutions held 4.70% and 39.43% respectively.

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).