The Board of Directors of J. B. Chemicals & Pharmaceuticals Ltd. (JBCPL) at its meeting held on April 1, 2022, has approved the trademark assignment of the Azmarda brand from Novartis AG, Switzerland for a consideration of US $ 32.5 million (Rs 246 crores) for India. This assignment is expected to be completed in less than two weeks, subject to customary closing formalities.

The Azmarda brand, a patented product, shall be affixed on the proprietary Novartis AG product, a pharmaceutical composition comprising Valsartan and Sacubitril and is indicated for heart failure patients with reduced ejection fraction. Azmarda recorded sales of Rs 76.8 crores as per IQVIA MAT Feb 2022 and has entered the top 300 brands in Feb 2022. The patented product is growing at around 35% CAGR and is one of the fastest-growing molecules in the cardiology segment.

The brand 'Azmarda' fits well with JBCPL's overall strategy of strengthening its presence in the Cardiology segment in India.

Post the transaction, JBCPL would be able to further scale up the acquired brand within the territory of India and further consolidate its position in the pharmaceutical industry.