JB Chemicals will get board approval to amass Dr Reddy’s 4 manufacturers

JB Chemicals & Pharmaceuticals on Thursday mentioned its board has authorized a proposal to amass 4 pediatric manufacturers from Dr Reddy’s Laboratories for about Rs 98 crore.

The firm’s board at its assembly held on June 29, has thought of and authorized the acquisition of a portfolio of manufacturers, to be used gross sales inside India, from Dr Reddy’s Laboratories, the drug maker mentioned in a regulatory submitting.

The firm has inked a pact with Dr Reddy’s Laboratories to amass 4 of its manufacturers — Z&D, Pedicloryl, Pecef and Ezinapi — for the India market, it added.

All 4 manufacturers are centered on the paediatric phase within the nation with a complete coated market measurement of Rs 1,800 crore as per IQVIA knowledge, JB Chemicals & Pharmaceuticals mentioned.

The mixed gross sales of those manufacturers stood at round Rs 33 crore for FY 2021-22, it added.

The acquisition, which will probably be funded primarily via long-term debt, will probably be accomplished within the subsequent few working days, the drug agency acknowledged.