JB Chemicals launches new business division

Drugmaker JB Chemicals & Pharmaceuticals said on Thursday it has launched a new business division catering to gynaecology and dental therapies with 15 products and would exploit other therapeutic areas having good growth potential, sending its shares up over 7%.

The gynaecology and dental segments have a combined market size of about Rs 2,000 crore in India and are growing 16% every year, the company said in a statement.

The new division has a sales force of over 100 representatives and it would triple the count over the next two years, it said.

The launch would help company strengthen its position in the rural as well as urban markets in India, it said adding necessary investments would be made for growth in the business.

JB Chemicals President Pranabh Mody had said in May, the company would launch at least 15 new products from gynaecology and dental division in India this year and would concentrate on contract research and manufacturing services business post the deal with Johnson & Johnson.

The company had sold its over-the-counter medicines business in Russia to an affiliate of Johnson & Johnson for about USD 260 million.

The brands include Rinza, Russia's leading multi-symptom cough and cold brand, and Doktor Mom, Russia's No 2 cough brand.

At 3:08 pm, shares of JB Chemicals were trading at Rs 133.65, up 4.13% in a firm Mumbai market.