Glenmark Pharmaceuticals Ltd.’s cardiac brand Razel will be purchased by JB Chemicals & Pharmaceuticals Ltd., which is backed by private equity firm KKR, for 313.7 crore in cash.
According to JB Chemicals in an exchange filing, the brand is concentrated on the cardiac market in India and Nepal, which has a total covered market size of 2444 crores. Under normal closing conditions, the deal, which will be financed by long-term debt and internal accruals (mainly debt), is anticipated to be completed by the end of this year.
When it comes to rosuvastatin molecules, Razel is one of the top ten brands in the nation.
This news is written by Ms. Amrita Singh, Research Assistant, All India Legal Forum.