JB Chemicals

Torrent Pharmaceuticals is set to acquire a controlling stake in JB Chemicals and Pharmaceuticals in a transaction valued at Rs. 19,500 crore—marking the second-largest merger in India’s pharmaceutical industry after Sun Pharma’s acquisition of Ranbaxy in 2015. The multi-phase deal includes promoter and employee share purchases, followed by an open market offer, and culminates in a merger of JB Pharma into Torrent.

In one of India’s largest pharmaceutical mergers, Torrent Pharmaceuticals has agreed to acquire a controlling stake in JB Chemicals and Pharmaceuticals in a deal valued at Rs. 19,500 crore. The transaction, which includes promoter and employee stake purchases followed by a mandatory open offer, will propel Torrent to the position of India’s second most-valued pharmaceutical company.