JB Chemicals & Pharmaceuticals jumps on entering into agreement to acquire Razel franchise
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JB Chemicals & Pharmaceuticals is currently trading at Rs. 2054.35, up by 29.90 points or 1.48% from its previous closing of Rs. 2024.45 on the BSE.
The scrip opened at Rs. 2055.00 and has touched a high and low of Rs. 2071.90 and Rs. 2036.85 respectively. So far 3097 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 2149.90 on 21-Nov-2022 and a 52 week low of Rs. 1339.05 on 16-Jun-2022.
Last one week high and low of the scrip stood at Rs. 2085.00 and Rs. 1995.55 respectively. The current market cap of the company is Rs. 15865.34 crore.
The promoters holding in the company stood at 53.96%, while Institutions and Non-Institutions held 27.13% and 18.91% respectively.
JB Chemicals & Pharmaceuticals has entered into an agreement with Glenmark Pharmaceuticals 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. The company sees growth potential from the acquired portfolio as it is synergistic with its cardiac segment and will help it leverage its Go to Market Model. Further the products provide good operating leverage and are margin accretive, given its attractive margin profile. Cost of acquisition is Rs 313.7 crore (excluding working capital and taxes).
JB Chemicals & Pharmaceuticals is engaged in manufacturing of pharmaceutical specialties in various dosage forms, herbal remedies, diagnostics, generic drugs, active pharmaceutical ingredients (APIs).
