The Board of Directors of J. B. Chemicals & Pharmaceuticals Ltd. (JB Pharma) at its meeting held on December 19, 2023 has approved the execution of a Trade Mark License 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. The Board also approved the promotion & distribution agreement with Novartis Healthcare Private Limited for the same portfolio of select ophthalphthalmology brands for the Indian market for a period of three years starting December 2023. JB Pharma shall offer employment to the impacted associates working on these ophthalmology brands.

JB Chemicals & Pharmaceuticals Ltd. (JB Pharma) at its Board meeting held on December 19, 2023 approved the execution of a Trade Mark License Agreement for a portfolio of select ophthalmology brands from Novartis Innovative Therapies AG effective January 2027. During the Board meeting, the Board also approved the execution of the Promotion and Distribution Agreement with Novartis Healthcare Private Limited for the above mentioned portfolio of select ophthalmology brands for a period of three years starting December 2023. As per IQVIA, MAT September, 2023 data, sales for these brands was at INR 2,078 million.

Cost of acquisition or the price at which the shares are acquired: USD 116 million (INR 9,640 million) (excluding applicable taxes, stamp duty and working capital) for the Trade Marks License Agreement to Novartis Innovative Therapies AG, Switzerland. INR 1,250 million (excluding applicable taxes, stamp duty and working capital) under the Promotion and Distribution Agreement to Novartis Healthcare Private Limited, India.