Glenmark to divest cardiac brand Razel to J.B. Chemicals & Pharmaceuticals in India and Nepal

Global Pharma major Glenmark Pharmaceuticals Ltd has entered into an agreement with J.B. Chemicals & Pharmaceuticals to divest its cardiac brand, Razel (Rousvastatin and combinations), in India and Nepal for a consideration amount of Rs 313.7 Crore.

Razel and its combinations are meant for the management of dyslipidemia. The condition has abnormally elevated cholesterol or fats (lipids) in the blood which may increase the chance of clogged arteries and heart attacks, stroke or other circulatory concerns, especially in smokers.

“The transaction is expected to be closed by the end of this calendar year, subject to customary closing formalities. This divestment is in line with Glenmark’s strategy of focusing on other sub‐categories of the cardio‐vascular segment,” Glenmark said in a statement. “Going forward, the company will continue to further consolidate its position in its core therapeutic areas of cardio‐metabolic, respiratory, dermatology, and oncology,” it said.

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. These brands are focused on the cardiac segment in India and Nepal with a total covered market size of Rs 2,444 crore as per IQVIA MAT October 2022 numbers.

“We are glad to announce the acquisition of the Razel (Rosuvastatin & 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,” Nikhil Chopra, CEO & Whole Time Director, JB Pharma said.

“We see good growth potential from the acquired brands. This acquisition will help us leverage our existing Go-To-Market model focussed for this segment and further strengthen our chronic portfolio,” he said.

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