The Competition Commission of India (CCI) has approved the proposed acquisition of J. B. Chemicals & Pharmaceuticals Limited by Torrent Pharmaceuticals Limited, subject to voluntary modifications offered by the parties.

The transaction involves Torrent Pharmaceuticals Limited (the acquirer) purchasing shareholding in J. B. Chemicals & Pharmaceuticals Limited (the target), followed by the amalgamation of the target company with the acquirer. Together, the two entities are referred to as the “parties”.

Torrent Pharmaceuticals, the flagship company of the Torrent Group, is engaged in the manufacture and sale of pharmaceutical formulations across multiple therapeutic segments.

J. B. Chemicals & Pharmaceuticals Limited operates in the manufacturing and marketing of a wide range of finished dosage formulations (FDFs) and active pharmaceutical ingredients (APIs). The company also provides Contract Development and Manufacturing Organisation (CDMO) services.

The CCI’s approval is conditional on the compliance of voluntary modifications proposed by both parties to address competition concerns.

A detailed order from the Commission will be issued in due course.