JB Pharma to acquire the entire Razel franchise from Glenmark Pharmaceuticals Ltd

JB Chemicals & Pharmaceuticals ltd (JB Pharma), one of the fastest growing pharmaceutical companies in India, entered into an agreement with Glenmark Pharmaceuticals Ltd 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.

Commenting on the acquisition, Mr. Nikhil Chopra, CEO and Whole Time Director, JB Pharma said, "We are glad to announce the acquisition of the Razel(Rousvastatin & combinations) franchise from Glenmark Pharmaceuticals, thereby marking JB's expansion into Statins, which is the largest therapeutic segment in cardiology. With this addition, we now have established strong position in statins besides being among the leaders in Hypertension and Heart failure - all the fastest growing therapeutic indications in cardiology." He further added "We see good growth potential from the acquired brands. This acquisition will help us leverage our existing Go-To-Market model focussed for this segment and further strengthen our chronic portfolio."

Shares of JB Chemicals & Pharmaceuticals Limited was last trading in BSE at Rs. 2024.45 as compared to the previous close of Rs. 2034.10. The total number of shares traded during the day was 1024 in over 302 trades.

The stock hit an intraday high of Rs. 2054.65 and intraday low of 2019.50. The net turnover during the day was Rs. 2087678.00.

Source : Equity Bulls

Keywords

JBChemicalsandPharmaceuticals INE572A01028 Agreement GlenmarkPharma RazelFranchise India Nepal