Torrent Pharmaceuticals acquires majority stake in JB Pharma from KKR – merger creates new pharma giant with global clout

Torrent Pharmaceuticals Limited has announced a landmark acquisition in the Indian pharmaceutical sector. The company will acquire a controlling stake in JB Chemicals & Pharmaceuticals from global investment firm KKR. The transaction, valued at INR 25,689 crore, will be followed by a merger of the two companies. This move represents a significant milestone for Torrent as it continues to expand its leadership in the Indian pharma market while building a diversified and future-ready global healthcare platform.

The acquisition will be carried out in two phases. Torrent will first acquire 46.39% of JB Pharma’s shares through a Share Purchase Agreement for INR 11,917 crore. This will be followed by a mandatory open offer to acquire up to 26% from public shareholders at INR 1,639.18 per share. Additionally, Torrent plans to acquire up to 2.80% of shares from employees. Following these transactions, JB Pharma will be merged into Torrent, with shareholders receiving 51 Torrent shares for every 100 JB Pharma shares. The merger is subject to approvals from SEBI, CCI, NCLT, and others.

“Torrent’s strong position in the Indian market combined with JB Pharma’s high-growth presence and CDMO capabilities creates a platform for sustainable, profitable growth,” said Samir Mehta, Executive Chairman of Torrent Pharmaceuticals.

Gaurav Trehan, Co-Head of Asia Pacific and CEO of KKR India, praised JB Pharma’s transformation as a success story. Under KKR’s ownership, the company became one of India’s fastest-growing pharma players. Nikhil Chopra, CEO of JB Pharma, stated that the business has built a strong foundation for sustainable growth and is confident that the partnership with Torrent will improve healthcare access across key markets.

This strategic move strengthens Torrent’s portfolio and international reach, enabling entry into untapped therapeutic areas and scaling operations across global markets. With the combined expertise in manufacturing, regulatory compliance, and innovation, the merger positions Torrent for long-term, sustainable success.

The deal is one of the largest in the Indian pharmaceutical industry and is expected to reshape the competitive landscape domestically and internationally.