Latest news with #JBChem
Time of India
01-07-2025
- Business
- Time of India
Torrent set to be 5th largest pharma co
New Delhi: Following the acquisition of JB Chemicals & Pharmaceuticals (JB Chem), Torrent Pharma is set to become India's fifth-largest pharmaceutical company (up from seventh), capturing a 4.6% share (up from 3.6%) of the Rs 2.3 lakh crore organised retail market. Significantly, the deal propels Torrent to become the number one player in the over Rs 30,000 crore cardiac therapy market (moving annual total or 12-month period ended May 25), overtaking the leader Sun Pharma , from an existing 7% to nearly 11% share (MAT May 25). Sun Pharma leads the highly fragmented market with sales of just over Rs 19,000 crore and an 8.3% share (MAT May 25). The Ahmedabad-based firm, flagship of the Torrent group, follows Cipla, which has a 5.2% market share. The Torrent scrip closed nearly 2% higher at Rs 3410, while the discounted open offer price saw JB Chem's stock price plunging by over 6% to Rs 1680 on the BSE on Monday. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Time of India
30-06-2025
- Business
- Time of India
Torrent Pharma becomes India's 5th largest drugmaker
NEW DELHI: Following the acquisition of JB Chemicals & Pharmaceuticals (JB Chem), Torrent Pharma is set to become India's fifth-largest pharmaceutical company, capturing a 4.6% share of the Rs 2.3 lakh crore organised retail market. The acquisition boosts Torrent Pharma's rank from 7th to 5th place, increasing its market share from 3.6% to 4.6%, according to data gathered by TOI from market intelligence firm Pharmarack. Sun Pharma leads the highly fragmented pharma market with sales of over Rs 19,000 crore and an 8.3% share (Moving Annual Total or 12-month period ended May '25). The Ahmedabad-based firm, the flagship of the Torrent group, follows Cipla, which has a 5.2% market share. Significantly, the deal propels Torrent to become the number one player in the over Rs 30,000 crore cardiac therapy market, overtaking the leader, Sun Pharma, from an existing 7% to nearly 11% share (MAT May '25). While in the Rs 28,000-crore gastrointestinal therapy, Torrent will move up two positions to the second slot after the potential merger. Cardiac and gastrointestinal therapies represent the two largest segments of the chronic and acute pharma retail market. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Giao dịch CFD với công nghệ và tốc độ tốt hơn IC Markets Đăng ký Undo With this deal, Torrent has significantly strengthened its position in these key high-growth therapeutic areas. Further, the India business of the merged entity will have sales of over Rs 10,600 crore, with consolidated revenues exceeding Rs 15,000 crore. The Torrent script closed nearly 2% higher at Rs 3410, while the discounted open offer price plunged JB Chem's stock price by over 6% to Rs 1680 on the BSE on Monday. "As corporates grow in size, inorganic growth with strategic partnerships has become the norm. Torrent has done it well in the past as well. Acquisition of key portfolios of Elder, Unichem, and Curatio has strengthened its position in nutritionals, gastro, and derma segments in the past," Sheetal Sapale, VP Commercial, Pharmarack, told TOI. Over the years, the company, a leader in cardiovascular and central nervous system therapies, grew inorganically by acquiring Elder Pharma and Unichem Labs' India businesses, Curatio Healthcare, and brands from Novartis and Dr Reddy's Labs. Further, Elder's brand Shelcal range (nutrition), Unichem's Unienzyme (gastro-intestinal), and Curatio's Tedibar (derma), some of the largest-selling pharma formulations in their respective segments, are part of Torrent's portfolio. The deal also provides Torrent an entry into untapped therapeutic areas like ophthalmology and the fast-growing CDMO (Contract Development and Manufacturing Organization) segment. Around 11% of JB Chem's revenue comes from the CDMO business, and it is one of the top companies to manufacture lozenges globally. In terms of prescriptions, the merged company will jump to the 4th rank with a share of 5.4% prescriptions, up from the 10th right now, according to the SMSRC Prescription dataset (MAT Feb '25).
Time of India
29-06-2025
- Business
- Time of India
Torrent in Rs 18,000 crore deal, 2nd largest in pharma sector
NEW DELHI: Torrent Pharma will acquire a controlling stake in JB Chemicals & Pharmaceuticals (JB Chem) in a deal size of around Rs 18,000 crore, including an open offer. This is the second largest deal in pharma space after Sun Pharma's $4 billion acquisition of Ranbaxy over a decade back. Tired of too many ads? go ad free now The deal will create India's second most valued pharma company (after Sun Pharma), with a revenue of over Rs 15,000 crore, and will be ranked among the top five pharma players. The transaction in the first phase includes Torrent Pharma's acquisition of 46.4% stake in JB Chem from US PE major KKR for nearly Rs 11,917 crore, which will be followed by an open offer of up to 26% from public shareholders. The equity valuation of JB Chem is Rs 25,689 crore, while its market cap is Rs 28,000 crore. As per the agreement signed between the two on Sunday, Torrent Pharma is acquiring KKR's stake in JB Chem at Rs 1,600 per share, while the open offer is at Rs 1,639 per share. The deal price is at nearly 9% discount to JB Chem's closing price of Rs 1,800 on June 27. KKR's stake in the company is held through its subsidiary Tau Investment Holdings. In the second phase, Torrent and JB Pharma will be merged through a scheme of arrangement under which every shareholder holding 100 shares in JB Pharma shall receive 51 shares of Torrent. TOI in its June 28 edition had reported the deal value of around Rs 20,000 crore. About five years back, the PE major had acquired 54% in JB Chem from the promoters, the Mody family, for approximately Rs 3,100 crore, or Rs 745 per share. In March this year, KKR divested about 7% stake through block deals. The PE major has been seeking to exit its investment in JB Chem for some time and had initiated the process last year. However, negotiations with the potential bidders were stalled due to valuation concerns. In addition, Torrent is also expected to acquire up to 2.8% of equity shares from certain employees of JB Pharma at Rs 1,600 per share. The deal and merger scheme are subject to standard requisite statutory and regulatory approvals.
Time of India
29-06-2025
- Business
- Time of India
Torrent Pharma to acquire JB Chem for over Rs 25,000 crore
NEW DELHI: Ahmedabad-based Torrent Pharma will acquire a controlling stake in JB Chemicals & Pharmaceuticals (JB Chem) from PE major KKR for an equity valuation of Rs 25,689 crore. The transaction will be executed in two phases.
Time of India
28-06-2025
- Business
- Time of India
Torrent Pharma revives talks to buy KKR stake in JB Chem
NEW DELHI: Ahmedabad-based Torrent Pharma has revived talks with PE major KKR to buy its stake in Mumbai-based JB Chemicals & Pharmaceuticals in a deal which could cost around Rs 20,000 crore. KKR's nearly 48% stake in JB Chem is valued approximately Rs 13,400 crore at its stock's closing price of Rs 1,803 per share on BSE on Friday. The transaction, which will trigger an open offer by Torrent for up to 26% of the company's stake held by public shareholders, is expected to be finalised soon, sources said. Discussions between KKR and other bidders, including Torrent and Micro Labs, ended last year due to valuation concerns. Efforts to reach Torrent Pharma and JB Chem were futile, and KKR officials were not available for comments. The US private equity major has been seeking to exit its investment in JB Chem for some time, and sources indicated this time the deal with Torrent Pharma is likely to proceed. Typically, private equity firms aim to exit investments within three-to-four years. In March, KKR divested about 7% stake through block deals. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Step-by-Step Warehouse Cleaning Guide SearchMore Learn More Undo In July 2020, the PE major had acquired 54% in JB Chem from the promoters, the Mody family, for approximately Rs 3,100 crore or Rs 745 per share. Post acquisition, the company scaled up its domestic formulations business with a strong growth in cardiac, ophthalmology and anti-parasitic therapies. Over the years, the company ramped up its domestic play and improved its revenue from segments that offer sustainable growth and margins. Using organic and inorganic routes, it launched new products that have helped plug gaps in the business. For 2024-25, JB Pharma recorded a revenue of Rs 3,918 crore, registering 12% growth. With a growth of 12%, it outperformed domestic pharma market, which grew 8%.Its top six brands - Rantac, Cilacar, Cilacar-T, Nicardia, Metrogyl, Azmarda - feature among top 300 domestic brands. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
