Alkem Labs looks to acquire JB Pharma as Torrent pulls out of talks: Report

Late on September 12, Moneycontrol had reported that the promoter of Alkem, the Singh family, has began talks to sell a substantial stake in the company to private equity firms and the owners may be open to divesting a controlling stake.

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India’s fifth largest drugmaker Alkem Laboratories has joined the race to acquire JB Chemicals and Pharmaceuticals as private equity player KKR and others look to cash out, The Economic Times reported on September 13.

The development comes close on the heels of Torrent Pharmaceuticals, which was seen as a front-runner for the $3-billion acquisition of the Mumbai-based company, dropping out of the talks over valuation differences, the report said.

Moneycontrol could not independently verify the report.

Late on September 12, Moneycontrol had reported that the promoter of Alkem, the Singh family, has began talks to sell a substantial stake in the company to private equity firms and the owners may be open to divesting a controlling stake.

The promoters are working with investment bank Nomura to scout for buyers for their stake in the country's fifth largest drugmaker, Moneycontrol reported.

Alkem holds a dominant position in the areas of anti-infectives, gastrointestinal, pain management drugs and supplements. It also has a growing portfolio of products for the treatment of chronic conditions such as diabetes, neurology, cardiology, dermatology, and urology.