said the merger process of Mumbai-based JB Chemicals & Pharmaceuticals Ltd with the company has entered its final stage, with a hearing scheduled in the second week of June and the transaction expected to become effective over the next one to two months.
“On the merger process we have received the requisite shareholder approval for merger of JB Pharma with Torrent and we are in the last stage of the process,” Aman Mehta, managing director of Ahmedabad-based Torrent Pharmaceuticals and a Board member of JB Chemicals said while addressing investors on Tuesday. “We are in the last phase of the merger process and the hearing date which we got is in the second week of June. The merger should get effective in one-two months,” he added.
The merger scheme had received shareholder approvals from both companies in April this year, along with approvals from public shareholders and no-objection letters from stock exchanges. Under the approved share exchange ratio, shareholders of J. Chemicals, excluding Torrent Pharmaceuticals, will receive 51 equity shares of Torrent Pharma for every 100 shares held in JB Chemicals. The appointed date for the merger is January 21, 2026.
Torrent Pharma has already been exercising operational control over JB Chemicals for the last four months as part of the integration process. “The brands in the India business in particular continue to give us confidence. These are such widely established and recognized brands and familiarity is so high that in a merged entity it could certainly be possible to grow further,” Mehta said.
The company indicated that the merged entity would increasingly focus on strengthening the India business, which it sees as the key long-term growth driver. “The objective that we have taken is to change the mix profile and growth profile of the company as JB which would be more geared to India growth as an outperformance driver rather than a mix of international and India,” Mehta said. He added that while international operations would continue to remain important, the company expects future growth momentum to come from recovery in the domestic branded formulations business and revenue synergies from integration in the coming quarters.
Torrent Pharma also signalled rationalisation within the field force as integration progresses. JB Chemicals currently has around 2,500 medical representatives in India.
“The attrition has been ongoing. The attrition of JB field force is significantly higher than Torrent field force. When we start to merge some of the brands and divisions in the next couple of months the number will reduce a little bit going ahead,” Mehta said. The company said integration efforts are currently focused on aligning business practices, operating structures and sales processes across the merged entity.