JB Pharma on Wednesday said it has acquired cardiac brand Razel (rosuvastatin) for India and Nepal region from Glenmark for Rs 314 crore in an all-cash deal. The acquisition will be funded through long-term debt and internal accruals, the KKR-backed company said in a statement.
Razel ranks among the top 10 brands in India in the rosuvastatin molecule category, with combined sales of Rs 66.1 crore in 12 months ended October 2022, as per data from IQVIA, a global provider of healthcare data and solutions.
“With this addition, we now have established a strong position in statins besides being among the leaders in hypertension and heart failure – all the fastest growing therapeutic indications in cardiology,” said Nikhil Chopra, CEO and whole-time director of JB Pharma. “We see good growth potential from the acquired brands. This acquisition will help us leverage our existing go-to-market model focussed for this segment and further strengthen our chronic portfolio,” he added.
The transaction is expected to be closed by the end of this calendar year, subject to customary closing formalities. Razel and its combinations are used in the management of dyslipidemia.
