Torrent to keep JB Pharma's leadership after acquisition

Deal helps Torrent access JB's leading chronic segment brands, enter ophthalmology, IVF

- Jessica Jani

Ahmedabad-based drug-maker Torrent Pharmaceuticals will not make leadership changes at JB Chemicals and Pharmaceuticals, its management told investors in a call on Monday, a day after the announcement of its nearly ₹19,500-crore deal to acquire a controlling stake.

Torrent said on Sunday that it would acquire a controlling stake in JB Pharma from global investment firm KKR, at an equity value of ₹25,689 crore. The deal will be followed by a merger of the two entities. The deal is expected to be completed in 15-18 months, and is likely to be funded through debt.

"At this stage, all we can share is that there is no intention to change anything in business as usual," Aman Mehta, whole-time director and managing director-designate at Torrent Pharmaceuticals, told investors when asked about leadership plans for JB Pharma.