JBCHEPHARM

July 3 (Reuters) - J B Chemicals and Pharmaceuticals Ltd JBCH.NS:

• AGREES TO BUY FURTHER 2.41% STAKE OF J.B. CHEMICALS FOR ABOUT 6.2 BILLION RUPEES

Source text: ID:nBSE82mH2n

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June 30 (Reuters) - The following are the top stories in the Wall Street Journal. Reuters has not verified these stories and does not vouch for their accuracy.

- Canada scrapped its digital services tax targeting U.S. technology firms late on Sunday, just hours before it was due to take effect, in a bid to advance stalled trade negotiations with the United States.

- ASL Strategic Value Fund plans to push shareholders of drugmaker Avadel Pharmaceuticals AVDL.O to vote to remove the company's board, citing mismanagement in the launch of its flagship sleep disorder drug.

- India's Torrent Pharmaceuticals TORP.NS will acquire a 46.39% controlling stake in smaller peer JB Chemicals and Pharmaceuticals JBCH.NS from New York-based investment firm KKR KKR.N.

- Two firefighters were shot dead while responding to a fire in northern Idaho and the body of a man was later found with a gun nearby, the Kootenai County Sheriff's Office said on Sunday, as it lifted a shelter-in-place order.

- Public calls for lower interest rates of the kind directed by President Trump toward Federal Reserve Chair Jerome Powell are not a threat to the central bank's independence, the Bank for International Settlements said Sunday.

(Compiled by Bengaluru newsroom)

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By Abu Sultan and Mrinmay Dey

June 29 (Reuters) - India's Torrent Pharmaceuticals TORP.NS said on Sunday it will acquire a 46.39% controlling stake in smaller peer JB Chemicals and Pharmaceuticals JBCH.NS from New York-based investment firm KKR KKR.N, and plans to merge the two drugmakers.

The transaction, announced in a joint statement released by the three companies, implies a total equity valuation of 256.89 billion rupees ($3.01 billion) for JB Pharma on a fully diluted basis.

"This strategic alignment furthers our goal of strengthening our presence in the Indian pharma market, and building a larger diversified global presence," Torrent Executive Chairman Samir Mehta said in the statement.

Under the terms of the deal, Torrent will initially acquire an equity stake in JB Pharma from KKR for 119.17 billion rupees.

Following this, Torrent will launch a mandatory open offer to acquire up to an additional 26% of JB Pharma shares from public shareholders at 1,639.18 rupees per share.

Torrent also signaled its intent to acquire up to 2.80% of equity shares from certain JB Pharma employees, the company said.

The second phase of the transaction involves a merger of Torrent and JB Pharma through a scheme of arrangement. Upon merger, JB Pharma shareholders will receive 51 Torrent shares for every 100 JB Pharma shares held.

KKR also confirmed the deal in a separate statement.

"We are confident that the combined strengths of our organizations will unlock greater opportunities to enhance healthcare access across our markets," said JB Pharma CEO Nikhil Chopra.

India is Torrent's biggest market by revenue, where it competes with peers such as Mankind Pharma MNKI.NS.

Torrent offers drugs used to treat cancer, infections and diabetes, and has benefited from steady demand for its specialty and chronic illness drugs.

For the January-March quarter, its consolidated net profit was up 11% from a year earlier.

JB Chemicals and Pharmaceuticals, meanwhile, reported higher fourth-quarter profit in May.

Along with the steady market for its gastrointestinal medicines, Metrogyl and Sporlac, the company also benefitted from demand for its drugs that treat chronic conditions such as hypertension.

($1 = 85.4400 Indian rupees)

(Reporting by Abu Sultan and Mrinmay Dey in Bengaluru; Editing by Joe Bavier)

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April 2 (Reuters) - J B Chemicals and Pharmaceuticals Ltd JBCH.NS:

• APPROVED ACQUISITION OF SHARES OF JAMNAGAR RENEWABLES ONE FOR 70 MILLION RUPEES

Source text: ID:nnAPN2Q1AGW

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March 28 (Reuters) - J B Chemicals and Pharmaceuticals Ltd JBCH.NS:

• TAU INVESTMENT HOLDINGS SOLD 5.78% STAKE IN CO VIA ON-MARKET SALE

Source text: ID:nBSE8yNr9P

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** India's JB Chemicals & Pharmaceuticals JBCH.NS falls nearly 8%, set for biggest daily loss since April 2020

** Over 9 million shares, representing 5.79% stake in the company, change hands in a large block deal at 1,630 rupees, a discount of 4.6% to Wednesday's close, as per LSEG data

** Data shows multiple other smaller blocks in the price range of 1,620 rupees-1,639 rupees

** Promoter Tau Investment Holdings, a unit of private equity firm KKR, which holds 53.66% stake in JBCH, launches block deal to divest around 7% stake for $200 million, with an option to sell another 3.5% holding, says Moneycontrol report

** Around 10.4 million shares change hands on NSE, nearly 6x the six-month avg volume

** JBCH down 14.5% YTD

(Reporting by Vivek Kumar M)

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March 14 (Reuters) - J B Chemicals and Pharmaceuticals Ltd JBCH.NS:

• USFDA INSPECTION OF COMPANY’S API MANUFACTURING FACILITY – D9 AT PANOLI, GUJARAT

• FACILITY RECEIVED “NO OBSERVATIONS” AND THUS NO FORM 483 WAS ISSUED

Source text: [ID:]

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Feb 19 (Reuters) - J B Chemicals and Pharmaceuticals Ltd JBCH.NS:

• J B CHEMICALS AND PHARMACEUTICALS - GOT TAX ORDER FOR DEMAND OF 6.8 MILLION RUPEES

Source text: ID:nNSE9db9Rl

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** J.B. Chemicals and Pharmaceuticals JBCH.NS rises as much as 2.7% to 1,789.95 rupees; set for second straight session of gains

** Co reports ~22% y/y rise in Q3 consol net profit, helped by sustained domestic demand for its drugs used to treat chronic and acute conditions

** Rev from ops grows 14% y/y

** Stock rated "buy" on avg; median PT is 2,230 rupees - LSEG

** JBCH cuts YTD losses to 5.5%

($1 = 87.1170 Indian rupees)

(Reporting by Meenakshi Maidas in Bengaluru)

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Feb 4 (Reuters) - J B Chemicals and Pharmaceuticals Ltd JBCH.NS:

• Q3 CONSOL NET PROFIT 1.62 BILLION RUPEES; IBES EST. 1.62 BILLION RUPEES

• Q3 CONSOL REVENUE FROM OPERATIONS 9.63 BILLION RUPEES; IBES EST. 9.87 BILLION RUPEES

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Jan 16 (Reuters) - J B Chemicals and Pharmaceuticals Ltd JBCH.NS:

• DEMAND OF 8.1 MILLION RUPEES FOR MISMATCH IN INPUT TAX CREDIT

Source text: ID:nBSE4NZJ5D

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Nov 6 (Reuters) -

• KKR IS SAID TO CONSIDER SELLING $750 MILLION STAKE IN JB PHARMA- BLOOMBERG NEWS

Source text: https://tinyurl.com/223cgvue

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Oct 1 (Reuters) - J B Chemicals and Pharmaceuticals Ltd JBCH.NS:

• APPROVED CAPACITY ADDITION TO IV MANUFACTURING FACILITY AT PANOLI

• ESTABLISHMENT OF DEDICATED MANUFACTURING LINE FOR POVIDONE/IODINE LIQUID, OINTMENT

• INVESTMENT REQUIRED FOR IV MANUFACTURING EXPANSION AT 494.9 MILLION RUPEES

• INVESTMENT REQUIRED FOR MANUFACTURING LINE AT 215.5 MILLION RUPEES

Source text for Eikon: ID:nBSE4nSYTm

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Aug 8 (Reuters) - J B Chemicals and Pharmaceuticals Ltd JBCH.NS:

• Q1 CONSOL NET PROFIT 1.77 BILLION RUPEES; IBES PROFIT EST. 1.65 BILLION RUPEES

• Q1 CONSOL REVENUE FROM OPERATIONS 10.04 BILLION RUPEES; IBES EST. 10.16 BILLION RUPEES

Source text for Eikon: ID:nBSE2gJSYk

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- Source link: (https://shorturl.at/Bb3Nq)

- Note: Reuters has not verified this story and does not vouch for its accuracy

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MUMBAI/BENGALURU, May 6 (Reuters) - Global investment firm KKR KKR.N will buy Indian medical devices maker Healthium Medtech HEAT.NS from UK-based Apax Partners in a deal that three sources with direct knowledge of the matter say is valued at 70 billion rupees ($838.60 million).

Healthium and Apax did not immediately respond to Reuters' requests seeking comment, while KKR declined to comment.

KKR will acquire Healthium through a special purpose vehicle - owned by KKR-managed funds - that will have a controlling interest in Healthium group, including Healthium Medtech, the three companies said in a statement.

The acquisition marks KKR's latest investment in the Indian healthcare sector, with the firm already holding stakes in Indian drugmaker J B Chemicals and Pharmaceuticals JBCH.NS, hospital chain operator Max Healthcare MAXE.NS and generic injectables maker Gland Pharma GLAD.NS.

Private equity firm Apax bought Healthium, which is involved in the manufacturing of products used in surgical, post-surgical, and chronic care procedures, in 2018.

($1 = 83.4725 Indian rupees)

(Reporting by Kashish Tandon in Bengaluru, M. Sriram in Mumbai, Kane Wu in Hong Kong; Editing by Janane Venkatraman )

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April 29 (Reuters) - J B Chemicals and Pharmaceuticals Ltd JBCH.NS:

• J B CHEMICALS AND PHARMACEUTICALS - GOT TAX ORDER FOR DEMAND OF 3.1 MILLION RUPEES

Source text for Eikon: ID:nNSE5F12gL

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- Source link: (https://bityl.co/P5hQ)

- Note: Reuters has not verified this story and does not vouch for its accuracy

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** Shares of JB Chemicals and Pharmaceuticals JBCH.NS extend losses from yesterday, currently down 5.5% at 1,511.75 rupees

** Top shareholder KKR mulls selling controlling stake in co, Bloomberg reported on Wednesday, citing people familiar with the matter

** Stock closed almost 3% lower Wednesday

** JBCH declined to comment, KKR did not immediately respond to Reuters' requests

** Avg analyst rating is "buy"; median PT is 1,720.5 rupees - LSEG data

(Reporting by Varun Vyas in Bengaluru)

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** Shares of JB Chemical and Pharmaceuticals Ltd JBCH.NS end 3% lower at 1,600.2 rupees

** Top shareholder KKR mulls selling controlling stake in co, Bloomberg reports, citing people familiar with the matter

** JBCH was down about 0.4% before the report

** Co, KKR did not immediately respond to Reuters requests for comment

** KKR via Tau Investment Holdings owns 53.8% stake in co, stake sale at early stage - report

** Eleven analysts tracking JBCH rate it "buy" on avg; median PT is 1,720.5 rupees - LSEG data

** Stock down 5% this month

(Reporting by Nandan Mandayam in Bengaluru)

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** Shares of J B Chemicals and Pharmaceuticals JBCH.NS rise as much as 12.5% to all-time high of 1,940 rupees

** Indian drugmaker reported ~26% YoY rise in Dec-qtr consol net profit on strong domestic and overseas demand

** Stock last up 4.5%, set for sixth straight session of gains

** Volume tops 1.7 mln shares in heavy trading, 12.7x the 30-day moving avg

** Avg rating of 11 analysts on JBCH at "buy"; median PT is 1,655.50 rupees - LSEG data

** JBCH rose 67% in 2023, posting its fifth straight yearly gain

(Reporting by Kashish Tandon in Bengaluru)

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BENGALURU, Feb 6 (Reuters) - India's J B Chemicals and Pharmaceuticals JBCH.NS reported its sixth straight quarter of profit rise on Tuesday, led by strong demand in its domestic and international markets.

The company's consolidated net profit was 1.34 billion rupees (nearly $16 million) for the quarter ended Dec. 31, compared with 1.06 billion rupees a year earlier.

The Mumbai-based company's sales have benefitted from a series of acquisitions involving companies with portfolios of cardiovascular and ophthalmology drugs. Moreover, sales were boosted by new product launches.

J B Chemicals, known for manufacturing generic drugs and herbal lozenges used to soothe irritated throats, said its revenue from operations rose 6.6% to 8.45 billion rupees.

Revenue growth was fuelled by a 14% increase in its domestic business, its largest market, and a 6% rise in overseas business, including the Russian and South African markets.

The company did not give a region-wise revenue break up.

J B Chemicals' results follow those of larger generic drugmakers such as Cipla CIPL.NS, Dr Reddy's REDY.NS and Sun Pharma SUN.NS, all of which beat their third-quarter profit estimates on robust U.S. sales.

($1 = 83.0429 Indian rupees)

(Reporting by Kashish Tandon in Bengaluru; Editing by Dhanya Ann Thoppil)

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Dec 25 (Reuters) - J B Chemicals and Pharmaceuticals Ltd JBCH.NS:

• J B CHEMICALS AND PHARMACEUTICALS - GOT TAX DEMAND OF 4.6 MILLION RUPEES

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Dec 19 (Reuters) - J B Chemicals and Pharmaceuticals Ltd JBCH.NS:

• APPROVED EXECUTION OF TRADE MARK LICENSE AGREEMENT WITH NOVARTIS INNOVATIVE THERAPIES AG

• APPROVED PROMOTION AND DISTRIBUTION AGREEMENT WITH NOVARTIS HEALTHCARE

Source text for Eikon: ID:nNSE9N4LZt

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Dec 5 (Reuters) - J B Chemicals and Pharmaceuticals Ltd JBCH.NS:

• LAKSHAY KATARIA CEASED TO BE CHIEF FINANCIAL OFFICER

Source text for Eikon: ID:nBSET0w00

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** Shares of JB Chemicals and Pharmaceuticals JBCH.NS rise as much as 4.60% to a record high of 1,529.50 rupees

** Pharma co posts 36% Y/Y rise in net profit to 1.51 bln rupees ($18.14 mln) in Sept-quarter; rev from ops up 9%

** Strong India and contract development and manufacturing organisation (CDMO) outlook are key positives for JBCH - Jefferies

** Raises TP to 1,680 rupees from 1,555 rupees, implying 16% upside for stock in next 12 months

** Trading volume is twice as much as 30-day avg, as of 11:37 a.m. IST - LSEG data

** Of 13 analysts tracking JBCH, five maintain "strong buy", six "buy" and two "hold"; median TP is 1,508.75 rupees

** JBCH up 57% YTD, including today's gains

($1 = 83.2550 Indian rupees)

(Reporting by Bharath Rajeswaran in Bengaluru)

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Nov 7 (Reuters) - J B Chemicals and Pharmaceuticals Ltd JBCH.NS:

• INDIA'S J B CHEMICALS AND PHARMACEUTICALS SEPT-QUARTER CONSOL NET PAT 1.51 BILLION RUPEES VERSUS PROFIT 1.11 BILLION RUPEES

• J B CHEMICALS AND PHARMACEUTICALS SEPT-QUARTER CONSOL REVENUE FROM OPERATIONS 8.82 BILLION RUPEES VERSUS 8.09 BILLION RUPEES

Source text for Eikon: ID:nBSEZB4BG

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** Shares of J. B. Chemicals & Pharmaceuticals JBCH.NS down as much as 4.08% to 1244.45 rupees, their lowest since Aug. 3

** Pharma co says officers of Maharashtra Goods and Services Tax Department commenced inspection on co's premises

** Business operations will not be impacted, says co

** Analysts' average rating is equivalent of "buy", their median PT is 1,470.5 rupees

** Stock last down 2.7%, trimming YTD gains to ~29%

(Reporting by Manvi Pant in Bengaluru)

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Sept 7 (Reuters) - J B Chemicals and Pharmaceuticals Ltd JBCH.NS:

• CFO LAKSHAY KATARIA RESIGNS

Source text for Eikon: ID:nBSE63vfnS

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** Shares of J.B. Chemicals & Pharmaceuticals Ltd JBCH.NS rise as much as 5.1% to 2,785 rupees, reversing two sessions of losses

** Active pharmaceutical ingredients (API)-maker says US FDA approved co's generic drug used for treatment of anxiety and depression

** Drug had estimated annual sales $23.90 mln in the US - JBCH in a statement

** Stock trading above its 50-, 100-, and 200-day moving averages since May 29, in bullish trend

** Trading volume at ~175,400 shares as of 12:40 p.m. IST, 1.5x the 30-day avg of ~118,700 shares

** Average rating of 14 analysts is equivalent of 'buy'; median PT is 2,822 rupees - Refinitiv data

** Stock last up ~41.5% so far this year

(Reporting by Biplob Kumar Das in Bengaluru)

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