Azmarda brand for India to be assigned to J B Chemicals and Pharmaceuticals Ltd

The Board of Directors of J. B. Chemicals & Pharmaceuticals Ltd. (JBCPL) at its meeting held on April 1, 2022 have approved the trademark assignment of Azmarda® brand from Novartis AG, Switzerland for a consideration of USD 32.5 million (INR ~246 crores) for India. This assignment is expected to be completed in less than two weeks, subject to customary closing formalities.

The Azmarda brand, a patented product, shall be affixed on the proprietary Novartis AG product which is a pharmaceutical composition comprising of Valsartan and Sacubitril and is indicated for heart failure patients with reduced ejection fraction. Azmardarecorded sales of INR 76.8 crores as per IQVIA MAT Feb 2022 and has entered the top 300 brands in the month of Feb 2022. The patented product is growing at around 35% CAGR and is one of the fastest growing molecules in the cardiology segment.

The brand 'Azmarda' fits well with JBCPL's overall strategy of strengthening its presence in the Cardiology segment in India.

Post the transaction, JBCPL would be able to further scale up the acquired brand within the territory of India and further consolidate its position in the pharmaceutical industry.

Shares of JB Chemicals & Pharmaceuticals Limited was last trading in BSE at Rs. 1561.00 as compared to the previous close of Rs. 1575.20. The total number of shares traded during the day was 3852 in over 651 trades.

The stock hit an intraday high of Rs. 1605.00 and intraday low of 1549.85. The net turnover during the day was Rs. 6027883.00.

*Consideration excluding related taxes, stamp duty and working capital

Source : Equity Bulls

Keywords

JBChemicalsandPharmaceuticals INE572A01028 Azmarda BrandAssignment India