JB Chemicals and Pharma records growth rate of 29 per cent in FY2021-22

JB  Chemicals and Pharma has emerged as the fastest growing pharma company amongst the top 25 companies in the Indian pharma market during the Financial Year 2021-22 registering a growth rate of 29 per cent outperforming the market rate of 18 per cent, as per the Moving Annual Turnover (MAT) basis in March 2022. More so, five brands of the company are ranked in the top 300 pharma brands of the Indian pharma market, a company statement notified.

The statement also said that the company has also gained ranks from 32 as of MAT March 2020 to rank 25 in March 2022 and with the newly acquired brands from Sanzyme and the latest addition of Azmarda from April 2022, JB Chemicals and Pharma is likely to gain even more ranks in the coming years.

The company’s sales, as per IQVIA MAT 22 was at Rs 1,490.7 crores as compared to Rs 1,157.4 crores a year back recording growth of 28.8 per cent for FY 22. It was the fastest-growing pharma company in FY 2021-22. The second fastest-growing pharma company among the top 25, as per IQVIA, is Alkem, which recorded sales as per IQVIA MAT 22 at Rs 7,244 crores as compared to Rs 5,676 crores growing at 27.6 per cent for the financial year. The third fastest-growing pharma company among the top 25, as per IQVIA, is Aristo, which recorded sales as per IQVIA MAT 22 at Rs 5,459 crores as compared to Rs 4,352 crores growing at 25.4 per cent for the financial year, the statement added.

In addition, the statement said that the company has moved up three ranks in the therapy from 16 as MAT from March 2020 to 13 by March 2022, while growing with a CAGR of 22.73 per cent, beating the segment growth rate which is 12 per cent over the same period. Four of JB’s brands (including Azmarda) rank in top 100 in the therapy, all growing at a healthy pace. The key brands in the cardiac segment are:

Cilacar: It captures 50.56 per cent of the total Cilnidipine market (as of MAT March 2022) with no close competitors and is growing at a CAGR of 16 per cent. It ranks 52 as of MAT March 2022 in the Indian pharma market gaining two ranks since MAT March 2020. The brand has a firm foot in the cardiac segment consistently ranking at four.

Cilacar T: This is the extension of the brand Cilacar with a combination of Telmisartan. Cilacar T has been growing at a CAGR of 39 per cent and has captured 38.4 per cent of the molecule’s market space (as of MAT March 2022), and like its parent brand, Cilacar T also does not have any close competitors. The brand ranks at 203 as of MAT March 2022 in the Indian pharma market rising from 366 in MAT March 2020, while in the cardiac segment, Cilacar T ranks at 22 and has jumped from 49 in the FY-2020.

Nicardia: The second-ever brand launched by the company, Nicardia dominates the Nifedipine market capturing ~89 per cent of the space. The brand continues to grow at a CAGR of 18 per cent. Nicardia is currently at the rank of 240 in the Indian pharma market (MAT March 2022) up from the rank 263 as of MAT March 2020 and 30 in the cardiac segment rising from rank 33 in FY-2020.

Azmarda: Acquired in April 2022, Azmarda is the latest addition to the company’s portfolio. This is currently a patented product, the patent being held by Novartis AG and expiring in January 2023. Azmarda captures 17 per cent of the Sacubitril Valsartan market and growing at a CAGR of 35 per cent. The brand ranks 52 in the cardiac segment (MAT March 2022) gaining 26 ranks since FY-2020.

In the gastro-intestinal segment with Rantac – another JB Chemicals and Pharma brand that garners a sizeable portion of its revenues, Rantac ranks at 45 in the Indian pharma market (MAT March 2022) gaining 16 ranks since FY-2020 and ranking sixth in the gastro-intestinal segment. The brand, over the years, has grown with a CAGR of 21 per cent (gastro-intestinal segment growth rate at 12 per cent). The company has also extended ‘Rantac’ by introducing various combination drugs under the brand name, the prominent ones being Rantac DOM (Ranitidine + Domperidone) with IQVIA MAT March 2022 sales of Rs 23 crores and Rantac MPS (Magaldrate+ Simethicone) with IQVIA MAT March 2022 sales of Rs 21 crores. JB Chemicals and Pharma currently ranks at 12 in the gastro-intestinal market moving up to first rank since FY-2020.

Metrogyl – This is the company’s first-ever formulation brand launched in 1977. This is another market dominator, capturing ~79 per cent of the Metronidazole Plain Liquid market and 71 per cent of the Metronidazole Plain Solid market while depicting an impressive CAGR of 30 per cent. The brand ranks 194 in the Indian pharma market (MAT March 2022) rising from the rank of 241 in FY-2020.