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NEW DELHI: Mumbai-based JB Chemicals will acquire select ophthalmology brands from Swiss major Novartis for $116 million (Rs 964 crore) to enter the high-growth eyecare market. The agreement will come into effect from January 2027.
Till then, the company has entered into a promotion and distribution agreement for the same brands with Novartis for three years starting December 2023.JB Pharma will pay an additional Rs 125 crore for the distribution agreement, taking up the deal size to Rs 1,089 crore.
The deal was first reported by TOI in its December 11 edition. The brands include Simbrinza, Travacom, Azopt, Travatan and Vigamox. As per IQVIA, MAT September 2023 data, sales for the opthal portfolio stood at Rs 207 crore.
Ophthalmology is one of the fastest growing therapies in the domestic pharma market and this deal will catapult JB Chemicals to the leading players in the ophthalmology segment, the company said in an exchange filing on December 19. Eight of the 10 drugs which have been acquired are growing between 10% and 20% (three years’ CAGR).
Till then, the company has entered into a promotion and distribution agreement for the same brands with Novartis for three years starting December 2023.JB Pharma will pay an additional Rs 125 crore for the distribution agreement, taking up the deal size to Rs 1,089 crore.
The deal was first reported by TOI in its December 11 edition. The brands include Simbrinza, Travacom, Azopt, Travatan and Vigamox. As per IQVIA, MAT September 2023 data, sales for the opthal portfolio stood at Rs 207 crore.
Ophthalmology is one of the fastest growing therapies in the domestic pharma market and this deal will catapult JB Chemicals to the leading players in the ophthalmology segment, the company said in an exchange filing on December 19. Eight of the 10 drugs which have been acquired are growing between 10% and 20% (three years’ CAGR).
#Industry #Chemicals #buy #eyecare #brands #Novartis
