Exclusive
scalehealthtech Realize your Healthcare’s Digital Transformation journey with ScaleHealthTech Learn More

JB Chemicals Inks INR 1,089 Cr Deal, Acquires around 15 Ophthalmology Drugs

Written by : Nikita Saha

December 20, 2023

Category Img

Over the next three years, during the duration of the in-licensing agreement, Novartis will continue the manufacturing of the drugs, while JB Chemicals will focus on marketing and selling the products.

Mumbai-based pharmaceutical company, JB Chemicals has acquired around 15 ophthalmology drugs from the pharmaceutical giant Novartis for INR 964 Cr, along with an additional amount of INR 125 Cr to licence the same drug portfolio for the Indian market.

This acquisition marks JB Chemicals' fifth acquisition in the Indian market within the past two years, signalling the company's entry into the rapidly expanding Indian ophthalmology sector.

The acquired drug portfolio includes anti-infective, anti-allergy, and glaucoma drugs, with eight out of ten of these drugs growing 10-20% three-year CAGR. Reportedly, the acquisition will take effect from January 2027.

Over the next three years, during the duration of the in-licensing agreement, Novartis will continue the manufacturing of the drugs, while JB Chemicals will focus on marketing and selling the products. Moreover, this trademark licence agreement excludes applicable taxes, stamp duty and working capital.

Founded in 1976, J B Chemicals and Pharmaceuticals Ltd also known as JB Pharma is one of India’s leading pharmaceutical companies. It focuses on supplying affordable, quality products, both in India and international markets.

It is one of the few Indian pharma companies employing the OROS (Osmotic-controlled Oral delivery System) technology. The Mumbai-based company was trading at INR 1,474.90 per share, a 0.46% high as of 12:16 PM on 20th December 2023.

Novartis, on the other hand, is a Swiss multinational pharmaceutical corporation based. It was incorporated in 1996 through a merger of two major Swiss drug companies, Ciba-Geigy and Sandoz. Novartis and its predecessor companies trace their roots back more than 250 years, with a rich history of developing innovative products. Today, Novartis focuses its innovation prowess on addressing the unmet needs of patients worldwide.

Talking about Ophthalmology, it is currently one of the fastest growing therapies in the Indian Pharma market. It has grown 15% over a three-year CAGR from October 2021 to October 2023 to INR 4,374 Cr, outpacing the overall Indian pharma market, which has grown by 9% during the same period, reaching INR 2.1 lakh Cr.

Further, this deal is expected to catapult JB Chemicals & Pharma to the leading players in the ophthalmology segment.

Among several other ophthalmology initiatives, one is of Apollo Hospitals which unveiled the latest generation ophthalmology laser machine to offer advanced eye procedures including laser cataract surgery, customised laser refractive surgery (CLEAR lenticule extraction) and various laser-assisted corneal transplantation surgeries, promising remarkable precision, enhanced safety and minimal impact on surrounding tissue.


POPULAR CATEGORIES

WEEKLY POPULAR POSTS

ABOUT US

Digital Health News ( DHN) is India’s first dedicated digital health news platform launched by Industry recognized HealthTech Leaders. DHN Is Industry’s Leading Source Of HealthTech Business, Insights, Trends And Policy News.

DHN Provides In-Depth Data Analysis And Covers Most Impactful News As They Happen Across Entire Ecosystem Including Emerging Technology Trends And Innovations, Digital Health Startups, Hospitals, Health Insurance, Govt. Agencies & Policies, Pharmaceuticals And Biotech.

CONTACT US

© Digital Health News 2024