Torrent Pharma-JB Chemicals $3.1 billion merger cleared
Indian Torrent Pharma’s (BSE: 500420)$3.1 billion merger with JB Chemicals (JBCP: IN) has won approval from the regulator, the Competition Commission of India (CCI), making it the second-largest pharma M&A deal in India, after Sun Pharma’s (BSE: 524715) acquisition of Ranbaxy in 2015.
The deal signals a wave of consolidation in India’s pharma sector, driven by scale, portfolio diversification, and global competitiveness. It also reflects growing interest from private equity firms in Indian healthcare assets, with private equity major KKR’s exit marking a successful monetisation
Torrent Pharma will acquire a 46.39% stake in JB Chemicals from KKR for $1.43 billion. An additional 2.8% stake will be purchased from select employees for $86 million. Torrent will also launch an open offer for up to 26% more of JB Chemicals, valued at $820 million.
Deal brings in complementary products
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