JB Chem to hire about 800 medical representatives in 2 years

Monday, 30 May 2011, 05:58 Hrs
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NEW DELHI: JB Chemicals & Pharmaceuticals Ltd plans to more than double the strength of its medical representatives to 1,500 in the next two years to increase penetration in rural markets.

Besides, the firm which recently sold its over-the- counter business in Russia and CIS countries to Johnson & Johnson subsidiary Cilag GmbH for a consideration for Rs 938.51 crore, plans to launch a new division catering to gynecology and dental products.

"We plan to increase the strength of medical representatives to 1,500 from the present 700 in the next two years in order to penetrate small towns and rural areas where our presence is not significant," JB Chemicals & Pharmaceuticals Company Secretary Mayur Mehta told PTI.

The company had reported net sales of Rs 871.68 crore for FY11. It expects to grow by 15-20 per cent in the current fiscal.

Commenting on the firm's new division, he said: "The new division 'Femident' will come up in June and cater to gynecology and dental products. We plan to start the new division with a basket of 14 products".

He said the company is confident of making faster inroads "as competition is less comparatively in these two segments".

Besides, the company also plans to launch 6-7 products comprising antacids, antibiotics and pain management in the current fiscal.

After selling off its OTC business, the company plans to focus on its India-based formulations business, prescription business in Russia and CIS and ROW (Rest of World) exports.

"Our main focus would be to develop contract manufacturing for multi national firms," Mehta said.

Currently, the domestic pharmaceutical business contributes 30 per cent of the company's overall business and the rest of the world about 15 per cent. Russia & CIS countries contributed 50 per cent of JBCPL's business.

The company, which will receive payments from the recent deal with Johnson and Johnson after two months, plans to invest the capital mainly in the existing businesses.

"It will be utilised broadly for the growth of existing business," Mehta said.
Source: PTI
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