Amid the ongoing COVID pandemic and the crisis created by it, JB Chemicals & Pharmaceuticals Ltd., has emerged as the fastest growing pharmaceuticals company amongst the top 25 companies in the Indian Pharmaceutical Market during the Financial Year 2021-22 registering an impressive growth rate of 29% outperforming the market rate of 18% as per the moving annual turnover (MAT) basis in March 2022. More so, 5 brands of JBCPL are ranked in the top 300 pharmaceutical brands of the Indian Pharmaceutical Market.
Elated on the spectacular growth of JBCPL, Nikhil Chopra, CEO & Whole Time Director, JBCPL said, “We have made a remarkable growth during the financial year 2021-22. Though currently, we are ranked 25 in the Indian Pharmaceutical Market, we target to have the company rank in the top 20 pharmaceutical firms. We have outperformed in the cardiac segment with 3 of its brands marking their presence in the top 300 brands of Indian Pharmaceutical Market.”
The company has also gained ranks from 32 as of moving annual turnover (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, JBCPL is likely to gain even more ranks in the coming years.
JB sales as per IQVIA MAT 22 was at INR 1490.7 crores as compared to INR 1157.4 crores a year back recording growth of 28.8 % for FY 22. JB was the fastest growing pharmaceutical 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 INR 7244 crores as compared to INR 5676 crores growing at 27.6 % 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 INR 5459 crores as compared to INR 4352 crores growing at 25.4 % for the financial year.
“We are delighted to be the fastest-growing company in the FY 2021-22. This has been possible because of the continued focus on its core therapy areas. Further, this growth has been achieved with an insignificant contribution from the COVID portfolio, which reflects the underlying growth momentum of our core business. We remain confident that we will continue to outperform the Indian Pharmaceutical Market (IPM), and drive growth by focusing on our core therapy areas. Last year, we focused on building capabilities and focused on building a culture that will drive growth. We reached out to every employee to build a cohesive culture,” said, Dilip Singh Rathore, President, Domestic Business, JBCPL.
With the strong placement in the cardiac segment, JBCPL has moved up three ranks in the therapy from 16 as moving annual turnover (MAT) from March 2020 to 13 by March 2022, while growing with a CAGR of 22.73%, beating the segment growth rate which is 12% over the same period. 4 of JB’s brands (including Azmarda) rank in Top 100 in the Therapy, all growing at a very healthy pace. The key brands in the cardiac segment are:
• Cilacar: It captures 50.56% of the total Cilnidipine market (as of MAT March 2022) with no close competitors and is growing at an impressive CAGR of 16%. It ranks 52 as of MAT March 2022 in the Indian Pharmaceutical Market gaining 2 ranks since MAT March 2020. The brand has a firm foot in the cardiac segment consistently ranking at 4.
• 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% and has captured 38.4% 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 Pharmaceutical 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% of the space. The brand continues to grow at a healthy CAGR of 18%. Nicardia is currently at the rank of 240 in the Indian Pharmaceutical 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 the 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% of the Sacubitril Valsartan market and is growing at a CAGR of 35%. 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 JBCPL brand that garners a sizeable portion of its revenues, Rantac ranks at 45 in the Indian Pharmaceutical Market (MAT March 2022) gaining 16 ranks since FY-2020 and ranking 6 in the Gastro-Intestinal Segment. The brand, over the years, has grown with a market-beating CAGR of 21% (Gastro-Intestinal segment growth rate at 12%). 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 INR 23 crore and Rantac MPS (Magaldrate+ Simethicone) with IQVIA MAT March 2022 sales of INR 21 crore. JBCPL currently ranks at 12 in the Gastro-Intestinal market moving up to 1 rank since FY-2020.
Metrogyl: This is JBCPL’s 1st ever formulation brand launched in 1977. This is another market dominator, capturing ~79% of the Metronidazole Plain Liquid market and 71% of the Metronidazole Plain Solid market while depicting an impressive CAGR of 30%. The brand ranks 194 in the Indian Pharmaceutical Market (MAT March 2022) rising from the rank of 241 in FY-2020.