Private-equity firm KKR has agreed to sell its entire 46% stake in India-listed J.B. Chemicals & Pharmaceuticals to Torrent Pharmaceuticals for $1.4 billion. Following this, the two pharmaceutical firms will merge.
According to KKR, the Rationale for the Acquisition are:
- Access to Fast-Growing India Franchise: The acquisition grants Torrent Pharma entry into J.B. Chemicals’ established and growing Indian market presence, particularly its leading brands in the chronic segment, and expands its therapeutic reach into new areas such as ophthalmology.
- Strengthened Market Share: The merger will enhance Torrent Pharma’s overall market share within the Indian Pharmaceutical Market.
- Operational Synergies: The deal is expected to create operational efficiencies across various business functions for the combined entity.
- Platform Diversification: It marks Torrent Pharma’s entry into the Contract Development and Manufacturing Organization segment, offering long-term growth potential.
- International Consolidation and Scale: The acquisition will allow for consolidation in key international markets where both companies have a presence, leading to greater ability to scale up operations globally.
J.B. Chemicals & Pharmaceuticals primarily generates revenue from the Indian market; it also operates in Russia and South Africa. It exports finished formulations to over 40 countries, including the U.S. It has eight manufacturing facilities in India, one of which is dedicated to lozenges.
Torrent Pharmaceuticals focuses on chronic and sub-chronic therapeutic segments and has a global presence in countries such as Brazil, Germany, as well as in USA.
Last updated: December 26th, 2025
