JB Pharma supplies lozenges in Europe through two partnerships, looks at US later this year

JB Pharma has for the first time supplied lozenges in Europe through partnerships with Kenvue (formerly J&J’s consumer healthcare division) and Krka, said Nikhil Chopra, JB Pharma Chief Executive Officer and Whole-time Director.

The company expects to supply lozenges in the United States by September/October, through its partnership with a multinational consumer health company, Chopra told businessline, of the “small but good start”. Lozenges account for 80 percent of JB Pharma’s contract development and manufacturing (CDM) business.

The CDM business clocked $50 million revenues, and the client’s branded lozenges are in the immunity space (Zinc/vitamin C and menthol) for Kenvue and cough for Krka, he said.

The present year will see more geographies and partners being added, he said, including melatonin lozenges (for sleep issues) that would be supplied to the Middle East and South East Asia, later this year . Markets including Mexico and Brazil would be looked at in 2025/26, he added.

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Over three years ago, JB Chemicals & Pharmaceuticals’ promoter family sold its controlling stake in the company to KKR. The company has since recast itself and will stay focussed in the present year on its focus on its key segments including chronic therapies, probiotics, paediatrics and hypertension, he said.

The next few months would also see new products in ophthalmology from their layered deal with Novartis. About 65 people came with the business, that is seeing subsequent expansion, he said. It included 10 brands, equally between chronic and acute brands, he said, adding that more products would be rolled-out including for dry-eyes, anti-oxidants and in the biologics segment (through licensing deals).

Financial Performance

JB Pharma had clocked revenues of ₹3,484 crore, for the year ended March 31, 2024, up 11 per cent from its revenues last year. It’s profit after tax for the year under review was up 35 percent, at ₹553 crore. In the last three months ended March 31, 2024, the company clocked revenues of ₹862 crores, up 13 per cent from the same period last year. Profit after taxes clocked a 43 per cent growth, at ₹126 crores in Q4 FY24.The company has a net cash position of ₹107 crores as on 31^st Mar 2024, it said.

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