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.