Novartis Planning to Sell Eye Care Portfolio to JB Chem

Novartis is planning to sell its Indian eye care portfolio to JB Chemicals in a deal estimated to be around ₹1,000 crore. The divestment aligns with a trend among multinational corporations (MNCs) reducing their exposure to the Indian market, citing factors such as heightened competition and a challenging business environment.

Novartis’ decision is in line with its strategy to capitalise on its ophthalmic therapy, while JB Chemicals sees it as an opportunity to enter a growing business segment. The transaction, expected to be announced in the coming days, reflects the broader trend of MNCs adjusting their drug portfolios.

The current demand for eye care is on the rise, driven by factors such as an aging population and increased access to eye care services, particularly in emerging markets. This presents a significant growth opportunity for pharmaceutical companies.

As reported by The Times of India, Novartis’ existing eye care portfolio in India is valued at around ₹400-500 crore, which includes certain brands transferred from Alcon, a major player in eyecare. In 2019, as part of a global restructuring initiative, Novartis spun off Alcon into a standalone business to focus on its core pharmaceuticals area. Alcon is globally recognized for providing solutions to conditions such as cataracts, glaucoma, retinal diseases, and refractive errors.

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