J. B. Chemicals & Pharmaceuticals Limited (BSE:506943) agreed to acquire Razel Franchise For India And Nepal Region from Glenmark Pharmaceuticals Limited (NSEI:GLENMARK) for INR 3.1 billion on December 13, 2022. The acquisition shall be funded through long term debt and internal accruals (primarily debt). The transaction is expected to be closed within next two weeks subject to customary closing formalities. Ernst & Young Private Limited, Investment Banking Arm acted as financial adviser for J. B. Chemicals & Pharmaceuticals Limited.

J. B. Chemicals & Pharmaceuticals Limited (BSE:506943) completed the acquisition of Razel Franchise For India And Nepal Region from Glenmark Pharmaceuticals Limited (NSEI:GLENMARK) on December 21, 2022.