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Published: August 31, 2024
Updated: August 31, 2024
After Cipla, the Indian pharmaceutical industry is agog with reports that JB Pharma is on the block and that several companies, including private equities, are making an offer. The latest to join the bandwagon is Ahmedabad-based.
Torrent Pharmaceuticals, which recently left the race to buy Cipla citing the high valuation sought by the Cipla promoters.
Torrent is planning to raise $3 billion from banks to finance American private equity player KKR & Co’s 53.8 per cent stake in JB, say sources. Torrent is in talks with Barclays Plc, Deutsche Bank and Standard Chartered Plc for funds. Torrent insiders say the deal is still 3 months away as due diligence has not started yet.
September 30, 2024 - Second Issue
Industry Review
VOL XVI - 03
September 16-30, 2024
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