JB Pharma on Wednesday announced that it has entered into an agreement with Glenmark Pharmaceuticals Ltd., to acquire the entire Razel (Rosuvastatin) franchise for the India and Nepal region for a whopping Rs. 314 crores.
With this acquisition, JB Pharma will complete its cardiac portfolio as Razel ranks among the top 10 brands in the Rosuvastatin molecule category in the country, the company claimed.
These brands are focused on the cardiac segment in India and Nepal with a total covered market size of INR 2,444 crores as per IQVIA MAT Oct’22 numbers.
“We are glad to announce the acquisition of the Razel(Rosuvastatin and combinations) franchise, thereby marking JB’s expansion into Statins, which is the largest therapeutic segment in cardiology. With this addition, we now have established a strong position in statins besides being among the leaders in Hypertension and Heart failure – all the fastest-growing therapeutic indications in cardiology. We see good growth potential from the acquired brands. This acquisition will help us leverage our existing Go-To-Market model focussed on this segment and further strengthen our chronic portfolio,” Nikhil Chopra, CEO and Whole Time Director, JB Pharma said in a statement.
The acquisition marks JB Pharma’s entry into the statin segment which is the largest group in cardiac therapy.
Statins, also known as HMG-CoA reductase inhibitors, are a group of lipid-lowering drugs that reduce illness and mortality in those who are at high risk of cardiovascular disease. Moreover, statins are also the most common cholesterol-lowering drugs.