KKR & Co agreed to acquire a 54% stake in JB Chemicals & Pharmaceuticals, an Indian pharmaceutical company specializing in branded formulations, for $500m. The transaction is subject to regulatory and other customary approvals. “For more than four decades, J.B. Chemicals’ mission has been to deliver affordable, high-quality pharmaceutical products that improve the lives of individuals living in India and around the world. We are thrilled that KKR – with its deep knowledge of the pharmaceutical industry and experience in investing in the sector, as well as its extensive investments in India – will take our mission forward and build on the foundation of core values that our family has instilled in this company. This will also create growth opportunities for our people to progress,” J.B. Mody, Founder, Chairman and Managing Director of JB Chemicals. On August 26, 2021, CCI approved the transaction after detailed rounds of queries.