J B Chemicals & Pharmaceuticals, one of India’s leading pharmaceutical companies, has declared special interim dividend of Rs 40 a equity share of Rs 2 each with a view to reward the shareholders.
This payment together with tax will absorb Rs 394 crore. The board considered it appropriate to reward the shareholders well consequent to gain realised from the sale of Russia-CIS OTC business.
The company is serious about its growth plans for domestic formulations and rest of the world business. In domestic formulations business, the company plans to achieve desired growth through penetration of new markets and introduction of new products. The company has recently launched Femident division catering to gynecology and dental segment and is in the process of entering some more new therapeutic areas through launch of dedicated divisions.
In rest of the world business, the company plans to build stable revenues through additional focus on contract manufacturing space besides growth strategy for other activities in this business.
The company recognises the challenge of growing the topline and bottomline to earlier levels.