Latest news with #JBChemicals
Reuters
30-07-2025
- Business
- Reuters
Indian drugmaker JB Chem posts first-quarter profit jump on strong domestic demand
July 30 (Reuters) - Indian drugmaker JB Chemicals & Pharmaceuticals ( opens new tab reported an 8.9% higher first-quarter profit on Wednesday, led by healthy domestic demand for its drugs. The maker of "Rantac" antacid reported a consolidated net profit of 2.02 billion rupees ($23.02 million) for the quarter ended June 30, compared with 1.77 billion rupees a year earlier. Its overall revenue climbed 14.5% to 10.94 billion rupees, boosted by demand in its key domestic formulations business. The Indian pharmaceutical market grew 8% in June, led by drugs treating chronic conditions such as hypertension and diabetes, benefitting drugmakers specialising in such treatments. JB Chem's revenue from its chronic and acute portfolios surged 15% and 12%, respectively, while an 8% climb in its contract drug manufacturing business also aided its results. PEER COMPARISON * The mean of analysts' ratings standardised to a scale of Strong Buy, Buy, Hold, Sell, and Strong Sell ** The ratio of the stock's last close to analysts' mean price target; a ratio above 1 means the stock is trading above the PT APRIL TO JUNE STOCK PERFORMANCE -- All data from LSEG ($1 = 87.7400 Indian rupees)
Time of India
28-07-2025
- Business
- Time of India
Torrent Pharmaceuticals plans Semaglutide rollout post patent expiry
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel Mumbai: Torrent Pharmaceuticals is planning to catch the first wave of semaglutide launch once Danish drugmaker Novo Nordisk 's patent expires early next year. The Ahmedabad-based company is looking to be present in both oral and injectable versions of the weight loss drug , a top executive is currently conducting Phase 3 clinical trials for oral products while it has also partnered for the injectables."As of now it looks like we could be in the first will be a reasonable addition to our chronic medicine portfolio in the next 1-2 years," company officials said over an investor call on company reported an 11% growth in its first quarter revenue to ₹3,178 crore, while net profit was ₹548 crores, up 20% y-o-y. Its operating EBITDA stood at ₹1,032 crore, up 14% y-o-y, while EBITDA margin was at 32.5%. The operating EBITDA includes acquisition-related one-off expenses of ₹15 JB Pharma acquisition , Aman Mehta, whole time director, Torrent Pharma, said that the acquisition was on track."There were some filings required in terms of public offer and merger schemes including the CCI application, all those have been done now. We have to now wait for the CCI to revert and see if there are incremental things to be done," he company will acquire 46.39% equity stake (on a fully diluted basis) of JB Pharma through a share purchase agreement for ₹11,917 crore at ₹1,600 per will trigger a mandatory open offer to acquire up to 26% of JB Pharma shares from public shareholders at an open offer price of ₹1,639.18 per has also expressed its intent to acquire up to 2.80% of equity shares from employees of JB Chemicals at transaction Chemicals shareholders will get 51 equity shares of Torrent for every 100 equity shares of JB Chemicals.
Time of India
04-07-2025
- Business
- Time of India
Cipla faces revenue and margin pressure ahead of Revlimid patent expiry
Cipla faces revenue and margin pressure due to the upcoming Revlimid patent expiry, leading to underperformance and analyst downgrades. Margin is expected to drop significantly in FY26 and FY27, with concerns about finding a suitable buyer after Torrent's acquisition of JB Chemicals. While Cipla is pursuing new respiratory and complex generic assets, analysts doubt these will fully offset Revlimid's decline. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads ET Intelligence Group: Cipla has underperformed the sector indices in the past twelve months following expected pressure on revenue and margin amid Revlimid patent expiry next year. The company expects margin to drop by 140-240 bps year-on-year in the current fiscal year. It has a couple of launches for FY26 but it still might not be able to compensate for the decline in Revlimid. Analysts have retained 'reduce' rating on the stock, citing muted growth for FY26-27. Cipla has guided operating margin before depreciation and amortisation to fall to 23.5-24.5% in FY26 from 25.9% in the previous year, due to Revlimid patent expiry. Elara Capital expects a further contraction of 300 bps in FY27 as the full loss of Revlimid will be reflected in that future course of action when it comes to finding a suitor will be another concern that investors may have to grapple with given Torrent Pharmaceuticals ' recent acquisition of JB Chemicals & Pharmaceuticals. According to media reports Torrent was in talks with Cipla to buy majority stake two years ago. But the proposal hit a roadblock due to differences in valuation. Now that Torrent has acquired a stake in JB Chemicals, Cipla's promoters will have to look for other buyers in case they wish to pare the front of revenue visibility, Cipla has filed for 6 respiratory assets in US, including Symbicort and Qvar and four more to be filed in the next 12-18 generic Advair is expected to be commercialised in this fiscal year. In peptides and complex generics, 9 filings are done, and it aims to file 10 more assets in 12 to 24 months, with two-three filings in FY26 company has net cash of ₹10,807 crore. It expects to spend 5% of revenue as capex this year, which could be towards mergers and acquisitions. Revenue for FY25 grew by 8.2% year-on-year to ₹2,754.8 crore. Though the company expects a similar growth rate for FY26, Elara anticipates flat-to-low single-digit percentage FY25, North America business posted a record-high annual revenue of $934 million and $221 million for March 2025 quarter. The company expects June quarter's revenue to be muted at around $220 million."Resolution of supply issues in Lanreotride, the launch of Abraxane and Tasigna and potential launch of Advair and two-three peptide products may not, it seems, be able to compensate for decline in Revlimid in FY26," said Elara, while projecting 6-7% fall in US business for FY26 and FY27. It has downgraded the stock to 'reduce' while lowering target price by 7% to ₹1,465. Emkay Global has reiterated 'reduce' with a TP of ₹1,500 citing execution risks and valuation concerns.
Business Upturn
03-07-2025
- Business
- Business Upturn
Torrent Pharmaceuticals to acquire additional 2.41% stake in JB Chemicals for Rs 620 crore
By Aditya Bhagchandani Published on July 3, 2025, 22:20 IST Torrent Pharmaceuticals Limited has announced that it will acquire up to 2.41% of the equity share capital of JB Chemicals & Pharmaceuticals Limited (JB Chemicals) for a total consideration of approximately ₹620 crore. In a filing dated July 3, 2025, Torrent Pharma said it signed a share purchase agreement (SPA) with 48 employees of JB Chemicals to purchase 38,75,056 equity shares at ₹1,600 per share. This follows the board's earlier approval (on June 29, 2025) to acquire a controlling stake in JB Chemicals. The acquisition is subject to shareholder and regulatory approvals, and will be completed after Torrent finalizes the controlling stake transaction in JB Chemicals. The company may also acquire an additional 0.39% stake (around 6.24 lakh shares) from other employees at the same price if definitive agreements are signed later. Torrent clarified that the acquisition does not constitute a related-party transaction, and the promoter group has no interest in the deal. This move strengthens Torrent's position in the Indian pharmaceutical space as it looks to consolidate its presence by acquiring a majority stake and additional shares from JB Chemicals' employees exercising their stock options. Details of the acquisition: Stake: 2.41% equity in JB Chemicals Number of shares: 38,75,056 Price per share: ₹1,600 Total consideration: ₹620 crore Sellers: 48 employees of JB Chemicals The company also indicated it would disclose further transactions related to the potential acquisition of the remaining 0.39% stake in due course. Ahmedabad Plane Crash Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
Business Recorder
01-07-2025
- Business
- Business Recorder
India's benchmark indexes close lower
MUMBAI: India's benchmark indexes edged lower on Monday, snapping a four-session rally, as profit-taking in financials near record highs overpowered optimism from easing geopolitical tensions. The Nifty 50 shed 0.47% to 25,517.05 and the BSE Sensex fell 0.54% to 83,606.46. Both indexes had gained 2.7% over the prior four sessions and added 3.1% and 2.7% in June, marking their fourth consecutive monthly advance. The Nifty and Sensex are now just about 2.9% and 2.8% below their all-time high levels hit in September. Indian markets have held firm despite global headwinds, but elevated valuations near record highs are triggering selective profit-taking, said Gaurav Garg, analyst at Lemonn Markets Desk. On the day, eight of the 13 major sectors logged losses. High-weight financials, which hit a record high on Friday, lost 0.6%. The heaviest stock in the benchmark indexes HDFC Bank lost about 0.7%. Meanwhile, small- and mid-cap indexes outperformed, rising 0.5% and 0.6%, respectively. Other Asian markets also fell, while the dollar softened on bets that weaker US jobs data could prompt deeper rate cuts. Among individual stocks, Sigachi Industries slumped 11.5% after an explosion at its Hyderabad unit led to a fire and killed at least eight people and injured over 26, according to police. Torrent Pharma rose 2% after announcing plans to acquire a 46.4% stake in JB Chemicals from private equity firm KKR. JB Chemicals dropped 6.8% following the deal, which was priced at a discount to its last close. Alembic Pharma jumped 7.3% after getting US drug regulator's nod for an injection used to treat certain types of cancer including ovarian cancer.
