JB Pharma to buy Glenmark cardiac brand for ₹314 crore

Mumbai: Mumbai-based JB Pharma has entered into an agreement with Glenmark to acquire its cardiac brand Razel (Rosuvastatin and combinations) in India and Nepal for Rs 314 crore.

With this acquisition, JB Pharma will complete its cardiac portfolio, making it a leader in this segment as Razel ranks among the top 10 brands in the Rosuvastatin molecule category in the country, the company said. These brands are focused on the cardiac segment in India and Nepal with a total covered market size of Rs 2,444 crore, according to IQVIA MAT October 2022 numbers.

Commenting on the acquisition, JB Pharma CEO & whole-time director Nikhil Chopra said, “We are glad to announce the acquisition of the Razel (Rosuvastatin & combinations) franchise, thereby marking JB’s expansion into statins, which is the largest therapeutic segment in cardiology. With this addition, we now have established astrong position in statins besides being among the leaders in hypertension and heart failure — all the fastest growing therapeutic indications in cardiology. ”

He added, “We see good growth potential from the acquired brands. This acquisition will help us leverage our existing go-to-market model focused for this segment and further strengthen our chronic portfolio. ” The divestment is in line with Glenmark’s strategy of focusing on other subcategories of the cardiovascular segment,” a regulatory filing stated.