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JB Pharma accelerates global expansion and diversifies into progressive therapies to address unmet needs
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Shardul Nautiyal, Mumbai
September 19 , 2024
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JB Pharma has announced significant strides in its strategic growth, diversifying into progressive therapies while strengthening its presence in international markets. Over the past three years, the company has seen robust growth, with revenue increasing at a 19% compound annual growth rate (CAGR), from Rs. 2,043 crore in FY21 to Rs. 3,484 crore in FY24, informed Nikhil Chopra, CEO & whole-time director.
JB Pharma has solidified its position as the 21st largest company in the Indian Pharmaceutical Market (IPM) and one of the fastest-growing among the top 25.
Reflecting on the company's journey, Chopra said, “We have not only expanded into new and progressive therapies but also strengthened our international footprint. Our focus remains on meeting the evolving needs of patients, driven by innovation, strategic R&D investments, and customer-centric approaches.”
In India, JB Pharma's growth has been driven by its emphasis on the chronic therapy segment, particularly cardiology. The cardiology portfolio has grown at a rate of 16-17%, surpassing the overall market growth of 14%, resulting in a jump from #14 to #8 in the cardiology sector within three years. JB Pharma’s five major brands—Nicardia, Cilacar, Rantac, Metrogyl, and Cilacar-T—are now among the top 150 brands nationally.
Chopra also highlighted the company's success in entering new therapeutic areas, such as ophthalmology, which has significantly bolstered its domestic business. This expansion has pushed JB Pharma’s domestic revenue contribution from 44% in FY21 to 60% in Q1 FY25.
JB Pharma’s global presence is anchored in key markets like Russia, South Africa, and the United States, with further expansion planned across Europe, Southeast Asia, the Middle East, and Brazil. The company’s international business reported 5% growth in FY24, with mid-teens growth in the US alone. Chopra emphasized the company’s commitment to broadening its product offerings in international markets, supported by its focus on local partnerships and advanced manufacturing capabilities.
"We are enhancing our global reach by integrating advanced digital tools, investing in new product development, and building strong local partnerships. This positions us to capture untapped market opportunities and deepen our international presence," Chopra said
A core pillar of JB Pharma's strategy is portfolio diversification, with a focus on newer therapies in areas such as pediatrics, gastroenterology, and probiotics. The company’s recent entry into the ophthalmology market has been particularly successful, positioning it among the top four Indian players in this segment. Moving forward, JB Pharma will continue to expand in these areas, aiming to meet the evolving needs of patients through innovation and product lifecycle management.
To drive operational efficiency and ensure product quality, JB Pharma has invested heavily in advanced technologies, including SCADA systems for automation and OROS technology for sustained drug release. The company operates eight state-of-the-art multi-dosage formulation plants that have earned over 40 global accreditations. JB Pharma is also leading in sustainability initiatives, with a 9% reduction in energy consumption and zero liquid discharge across its facilities.
JB Pharma’s CDMO business has grown at a CAGR of 31% over the past three years, generating over Rs. 400 crore in revenue. The company is recognized as one of the top five global manufacturers of medicated and herbal lozenges, serving over 40 countries, including the US, Russia, and South Africa. Looking ahead, JB Pharma aims to scale its CDMO segment to USD 100 million in revenue within 3 to 5 years, with plans to double its lozenge production capacity and introduce new products for sleep disorders, pain management, and immunity support.
Sustainability is deeply embedded in JB Pharma’s operations, with notable achievements such as a 16.67% reduction in emissions and a 9% reduction in energy consumption. Thirteen per cent of the company’s energy is now sourced from renewables, and JB Pharma has completed its first climate risk assessment. Additionally, the company has implemented various corporate social responsibility (CSR) programmes, positively impacting healthcare.
As JB Pharma continues to innovate and expand, Chopra highlighted the company’s readiness to explore new growth opportunities globally. He said, "Our focus on digitalization, strategic innovation, and sustainability ensures that we remain at the forefront of the pharmaceutical industry. With a diverse product portfolio and a strong international presence, JB Pharma is well-positioned for sustained growth in the years ahead."
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