JB Chemicals buys ophthalmology brands from Novartis for $116 million

21 December 2023

India’s JB Chemicals & Pharmaceuticals (JBCP: IN) saw its shares edge up 2% to 1,488.60 rupees, after it revealed it has acquired around 15 ophthalmology drugs from the Swiss pharma giant Novartis (NOVN: VX) for rupees 964 crore or $116 million. The acquisition will take effect from January 2027.

Meanwhile, leading up to this date, JB Chemicals will pay rupees 125 crore to Novartis to license the same drug portfolio for the Indian market. The company said on Tuesday that its board has approved the execution of a Trademark License Agreement for a portfolio of select ophthalmology brands from Novartis Innovative Therapies from January 2027.

According to IQVIA, MAT September 2023 data, sales for these brands stood at rupees 207.8 crore. The acquired Novartis' portfolio includes anti-infective, anti-allergy, and glaucoma drugs, with eight out of ten of these drugs growing at a 10%-20% three-year compound annual growth rate (CAGR). None of the drugs are under the National List of Essential Medicines (NLEM).

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