Torrent Pharmaceuticals expects the deal to complete in 15 to 18 months, marking one of India’s largest pharma consolidations .

Torrent Pharmaceuticals expects the deal to complete in 15 to 18 months, marking one of India’s largest pharma consolidations .

Mandatory open offer: Torrent will make a public offer for up to 26% additional stake at ₹1,639.18/share .

After regulatory approvals, the two companies will merge through a scheme of arrangement. JB Pharma shareholders will receive 51 Torrent Pharma shares for every 100 JB Pharma shares .The acquisition values JB Chemicals at around ₹25,689 crore (fully diluted), and includes about ₹13,433 crore paid to KKR for its current stake. Torrent may end up controlling nearly 74% of JB Pharma Once finalized, this will become the second-largest pharma deal in India, after Sun Pharma’s acquisition of Ranbaxy, and will position Torrent among the country’s top five pharma firms, with projected revenues above ₹15,000 crore . In expert commentary, Amnish Aggarwal noted that this move is part of Torrent’s strategy to expand its chronic treatment portfolio and strengthen its presence in the contract development and manufacturing organization (CDMO) space .

sources