JB Chemicals inches up on getting nod to acquire four paediatric brands from Dr Reddy's Laboratories
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JB Chemicals & Pharmaceuticals is currently trading at Rs. 1563.10, up by 7.65 points or 0.49% from its previous closing of Rs. 1555.45 on the BSE.
The scrip opened at Rs. 1590.00 and has touched a high and low of Rs. 1590.00 and Rs. 1550.60 respectively. So far 934 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1984.75 on 28-Sep-2021 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. 1595.00 and Rs. 1522.55 respectively. The current market cap of the company is Rs. 12013.12 crore.
The promoters holding in the company stood at 54.00% while Institutions and Non-Institutions held 26.11% and 19.89% respectively.
JB Chemicals & Pharmaceuticals’ board has approved a proposal to acquire four paediatric brands from Dr Reddy's Laboratories for about Rs 98 crore. The company's board at its meeting held on June 29, 2022 has considered and approved the same.
The company has inked a pact with Dr Reddy's Laboratories to acquire four of its brands -- Z&D, Pedicloryl, Pecef and Ezinapi -- for the India market. All four brands are focused on the paediatric segment in the country with a total covered market size of Rs 1,800 crore as per IQVIA data. The combined sales of these brands stood at around Rs 33 crore for FY 2021-22. The acquisition, which will be funded primarily through long-term debt, will be completed in the next few working days.
JB Chemicals & Pharmaceuticals is engaged in manufacturing of pharmaceutical specialties in various dosage forms, herbal remedies, diagnostics, generic drugs, active pharmaceutical ingredients (APIs).
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