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JB Chem divests Russian OTC business to J&J

This article was originally published in Scrip

Executive Summary

Shares of JB Chemicals and Pharmaceuticals declined sharply on Indian bourses after the company said that it was divesting its Russian/CIS over-the-counter (OTC) business to Cilag, a wholly owned subsidiary of Johnson & Johnson, for about Rs9.38 billion ($207 million). Russia is the world's eighth largest OTC market.

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