JB Chemicals gets board approval to acquire Dr Reddy's 4 brands for 98 cr
JB Chemicals & Pharmaceuticals on Thursday said its 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, has considered and approved the acquisition of a portfolio of brands, for use sales within India, from Dr Reddy's Laboratories, the drug maker said in a regulatory filing.
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, it added.
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, JB Chemicals & Pharmaceuticals said.
The combined sales of these brands stood at around Rs 33 crore for FY 2021-22, it added.
The acquisition, which will be funded primarily through long-term debt, will be completed in the next few working days, the drug firm stated.