JB Chemicals & Pharmaceuticals stated that it had reached a deal with Glenmark Pharmaceuticals. To acquire the India and Nepal Razel (Rousvastatin) franchise. It is a cardiac brand, for Rs 313.7 crore in cash.
The pharmaceutical company stated that long-term debt. And internal accruals (primarily debt) will be used to fund the acquisition. Subject to the usual closing procedures. The transaction is expected to be completed by the end of this calendar year.
Dyslipidemia ‘(Glenmark)
Dyslipidemia can be controlled with Razel and its combinations. Razel is one of the nation’s top ten brands for the Rousvastatin molecule.
Due to the acquired portfolio’s synergy with JB Pharma’s cardiac segment. And its ability to leverage its Go to Market Model, the company anticipates growth potential. Given its attractive margin profile, the products also provide good operating leverage. And the margin accretive.
According to IQVIA MAT October 2022 figures. These brands target the cardiac market in India and Nepal. It’s with a covered market value of Rs 2,444 crore.
Moreover, JB Pharma’s entry into the largest category of cardiac therapy, the statin category, is marked by the acquisition.
We are pleased to announce the acquisition of the Razel (Rousvastatin & combinations) franchise from Glenmark Pharmaceuticals. They marked it JB’s expansion into Statins. Although Which is the largest therapeutic segment in cardiology. According to Nikhil Chopra, CEO and full-time director of JB Pharma. As a result of this addition, we now hold a strong position in statins. And are among the leaders in hypertension and heart failure. Hence Which are all therapeutic indications in cardiology. They are expanding at the fastest rate.
We see good growth potential in the acquired brands, he continued. We will be able to use our existing Go-To-Market model. Which is focused on this segment, to take advantage of this acquisition. And further develop our chronic portfolio.
Glenmark Pharma
According to Glenmark Pharmaceuticals, this divestment is consistent. Moreover with the company’s strategy of concentrating on other cardiovascular segment subcategories. It also stated that the business would continue to strengthen its position in its core therapeutic areas of cardiometabolic, respiratory, dermatology, and oncology going forward.
Therefore, Glenmark Pharmaceuticals is a multinational pharmaceutical company. It operates in specialty, generic, and over-the-counter (OTC) sectors.
Firstly JB Pharma is a major player in the hypertension market. And one of India’s fastest-growing pharmaceutical companies. Russia and South Africa are the company’s other two domestic markets. In addition to its substantial presence in India, which generates the majority of its revenue. Over forty nations, including the United States, receive its finished formulations for export. Other than providing marked conventional plans to a few nations. It is likewise a forerunner in the assembling of cured capsules.
On the BSE, JB Pharma shares rose 1.36 percent to Rs 2,051.95. While Glenmark Pharmaceuticals shares fell 0.08% to Rs 439.05
