The Board of Directors of J. B. Chemicals & Pharmaceuticals (JB Pharma) at its meeting held on 19 December 2023 has approved the execution of a Trade Mark License Agreement with Novartis Innovative Therapies AG, which is perpetual in nature for the Indian market, for a portfolio of select ophthalmology brands which will be effective in January 2027.

The Board also approved the promotion & distribution agreement with Novartis Healthcare for the same portfolio of select ophthalmology brands for the Indian market for a period of three years starting December 2023. JB Pharma shall offer employment to the impacted associates working on these ophthalmology brands.