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The board of directors at its meeting held on December 19, 2023 approved the execution of a trade mark licence agreement with Novartis Innovative Therapies AG, which is perpetual in nature for the Indian market, for a portfolio of select ophthalmology brands which will be effective in January 2027, JB Pharma said in a regulatory filing.
JB Chemicals & Pharmaceuticals (JB Pharma), controlled by US private equity firm KKR, is evaluating assets for acquisitions to strengthen its market share in the domestic branded formulation business. CEO Nikhil Chopra said the assets should be at the right valuation and have synergy with the existing business, with a payback period of seven to eight years.
The company aims to diversify into lozenges for sleep disorders, anti-inflammatory lozenges, and immunity-boosting lozenges. It also plans to improve its presence in the cardiovascular segment.
Citigroup maintained a buy rating on Prestige Estates but raised the target price to Rs 982 from Rs 693 earlier.
The pharma company had reported a net profit of Rs 111.1 crore in the year-ago period.