JB Chemicals & Pharmaceuticals Ltd. ( JB Pharma) said it had entered into an agreement with Glenmark Pharmaceuticals Ltd. to acquire the entire Razel (Rosuvastatin) franchise for India and Nepal region for ₹313.7 crore.
“With this acquisition, JB Pharma will complete its cardiac portfolio, making it a leader in this segment, as Razel ranks among the top 10 brands in the Rosuvastatin molecule category in the country,” the company said in a filing. These brands are focused on the cardiac segment in India and Nepal with a total covered market size of ₹2,444 crore as per IQVIA MAT October 22 numbers, according to the filing.
Nikhil Chopra, CEO and whole time director, JB Pharma, said the acquisition of the Razel (Rosuvastatin & combinations) franchise would make JB’s expansion into Statins, which is the largest therapeutic segment in cardiology.
“With this addition, we now have established strong position in Strains besides being among the leaders in hypertension and heart failure – all the fastest growing therapeutic indications in cardiology.”
“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,” he added.
The acquisition will be funded through long-term debt and internal sources, the company said.
