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Will Torrent's JB Bet Pay Off?
Mint Mumbai
|July 02, 2025
Torrent Pharmaceuticals Ltd's acquisition of a controlling stake in JB Chemicals & Pharmaceuticals Ltd, the largest deal in the Indian pharma sector since 2015, is expected to bring cost synergies.
It may also help Torrent expand product portfolio across domestic formulations and the fast-growing contract development and manufacturing organisation (CDMO) segment.
JB Pharma's consolidated revenue in FY25 stood at ₹3,900 crore, about one-third of Torrent's topline. While JB's EBITDA margin has improved by 390 basis points (bps) to 26.3% over FY22-25, it is 630 bps lower than Torrent's FY25 margin of 32.6%.
The acquisition will complement Torrent's product portfolio in the cardiac and gastro segments.
"Torrent Pharma gains cost synergies in the near term with potential revenue synergies in the long run," Nomura Global Market Research said in a 29 June report. Torrent will gain entry into ophthalmology, a niche opportunity with prospects of growing ahead of the broader market, Nomura added.
This story is from the July 02, 2025 edition of Mint Mumbai.
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