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The Economic Times

Alkem joins $3 bn race for JB Chem as Torrent pauses talks

Alkem Laboratories, India's fifth-largest branded pharmaceutical company, is vying for JB Chemicals and Pharmaceuticals as KKR looks to sell. Torrent Pharmaceuticals has exited negotiations over valuation differences. If successful, this will be Alkem's largest acquisition, enhancing its presence in the chronic segment and potentially moving it to fourth place in the domestic formulations market.

The Economic Times

Torrent Pharma is said to seek raising $3 billion for KKR’s stake in JB Chemicals

Torrent Pharmaceuticals Ltd. is planning to raise up to $3 billion from global banks to acquire a controlling stake in JB Chemicals & Pharmaceuticals Ltd. This move involves the purchase of KKR & Co.'s 53.8% stake in JB Chemicals.

Business Standard

JB Chemicals & Pharma Q1 results: Net profit jumps 25% to Rs 177 cr

JB Chemicals & Pharmaceuticals on Thursday said its net profit increased 25 per cent year-on-year to Rs 177 crore in the first quarter ended June 30, 2024. The drug firm had reported a net profit of Rs 142 crore in the April-June period last fiscal. Total income increased to Rs 1,010 crore in the June quarter from Rs 902 crore in the year-ago period, JB Pharma said in a regulatory filing. "Our overall performance in the first quarter has been robust. We have reached a new milestone of Rs 1,000 crore in quarterly sales for the first time during any quarter, with improvement across all parameters - revenue, gross profit, operating profit and operating profit margin," CEO and Wholetime Director Nikhil Chopra stated. Strong performance in the domestic business has continued, with each of the big brand franchises witnessing market-beating growth, he added. "We expect the international business including CDMO business to pick up in the second half of the financial year. The good start .