J.B. Chemicals & Pharmaceuticals Limited (JBCPL) has plans to introduce new products for domestic and export markets and enter the Diabeto, Respiratory and Oncology segments. The 27th Annual General Meeting held in Mumbai also approved 80% Dividend for the year 2002-03.
In the domestic market, JBCPL is planning to launch Motiza – a novel next generation G.I. prokinetic agent to be launched for the first time by an Indian company. Motiza is for the treatment of digestive disorders/gastric discomfort such as abdominal bloating, reflux oesophagitis, heartburn and constipation.
The second product they plan to launch is Rhino – an anti-cold tablet for the treatment of allergic rhinitis, sinusitis, common cold, flu, running nose, congestion and headache.
The combined market size of these two products is approx. Rs. 415 crore. The Company also plans line extensions for ranitidine and pantoprazole, which will be commercialized soon.
On the exports front, JBCPL will focus on widening its product portfolio with the introduction of: Panum-40 (pantoprazole), GF 200/400 (gatifloxacin), Cipro OD and OF OD in 2003-04. The Company will start making in-roads into select fast growing markets such as US, UK, Europe, Canada, South and Latin America, South Africa, Philippines. The Company is also exploring the possibility of out-licensing its products in regulated and under-developed markets through strategic alliances to drive future export growth.
JBCPL has already entered into strategic alliance with a global generic player popularly referred as Arrow Group, Canada, and through a joint venture with Spectrum Pharmaceutical Inc USA. The foreign associates will market and distribute JBPCL’s generic formulations in select global markets.
Despite difficult market conditions in FY 2002-03, the company grew in line with industry at 6% to Rs. 291.77 crore. The PAT increased over 15% to Rs. 48.54 crore. Thanks to better product mix and cost rationalization measures taken by the company. The Company’s MCAP as of date has risen by 50% to Rs. 361 crore from Rs. 241 crore as of March 31, 2002 generating tremendous value for its stakeholders.
J.B. Mody – Chairman (JBCPL) said, “I am optimistic that given our pre-eminent position in the Global market; good prospects in the Domestic market; investment focus on R&D; and setting up of state-of-the-art manufacturing facilities; put together, will continue to drive the Company’s growth in double digits over the foreseeable future and help it emerge as one of the fastest growing pharmaceutical companies in India.”