Sanzyme Pvt. Ltd.

Sanzyme Pvt. Ltd.

Sanzyme Pvt. Ltd.

January 2022

Announced Date: January 2022

Value: USD 85 million

Sanzyme Pvt Ltd sells portfolio of brands for Indian market to J.B. Chemicals and Pharmaceuticals Ltd.

We are pleased to announce that our client, Sanzyme Pvt Ltd (“Sanzyme"), has sold portfolio of brands within domestic market to KKR owned J.B. Chemicals and Pharmaceuticals Ltd (“JB Chemicals"). o3 Capital was the exclusive financial advisor to Sanzyme for the transaction.

Founded in 1969, Sanzyme is engaged in business of pharmaceutical formulations across probiotics, therapeutic nutraceuticals and reproductive health market across domestic and export markets. Sanzyme owns injectable plant to manufacture Gonadotropins with accreditations from EU GMP amongst others.

As a part of the transaction, Sanzyme would transfer the brand portfolio for Indian market and provide manufacturing support to JB Chemicals, however, it would retain the manufacturing assets. Brand portfolio sold has pan-India presence and wide distribution reach of ~300,000 chemists and ~100,000 prescribers and includes leading brand such as Sporlac (3rd largest probiotic brand in India), Lobun and Oxalo (specialised probiotic brands) and complete range of infertility and hormone products.

The acquisition will mark JB Chemicals entry into fast-growing probiotics, therapeutic nutraceutical and reproductive health market and help leverage synergies with its strong prescriber base in gastroenterology and nephrology segments.

Mr. Nikhil Chopra, CEO & Whole-time Director, JB Chemicals, said, “We are glad to announce our first acquisition which expands our presence into new therapeutic areas and also increases the addressable opportunity in the India Pharma market. This is in line with our stated objective of building big brands through category leaders. Sanzyme has been a pioneer in the probiotics segment, and we wish to build further on this legacy.”

On the transaction, Prasanna Bora, Director, o3 Capital said “Sanzyme has built as strong brand identity synonymous for probiotic prescription amongst healthcare professionals in Indian market. Over the years, Sanzyme has commercialized range of products and have created niche position in the market. The transaction will help JB Chemicals foray into probiotic category and leverage rich legacy built by Sanzyme to create more INR 100+ crore brands in domestic formulation market”.

The deal reiterates o3 Capital’s strong credentials in the life sciences segment and our ability to consummate deals in this space. This marks o3 Capital's 5th transaction in the life sciences space during last 12 months and 3rd transaction in the month of January 2022, reinforcing our position as an advisor of choice for businesses and investors in the life science segment.

o3 Capital acted as the Exclusive Financial Advisor to Sanzyme on the transaction.