New Delhi, July 2 -- Torrent Pharmaceuticals has announced the acquisition of a controlling stake in JB Chemicals & Pharmaceuticals - a deal that has caught the attention of both investors and the pharmaceutical industry.

Valued at Rs.25,689 crore, this marks Torrent's largest-ever acquisition and makes it India's fifth-largest pharmaceutical company. Torrent is expected to gain operational control by the fourth quarter of FY26, after which synergies are likely to start taking shape.

The transaction will be executed in several phases. First, Torrent will acquire a 46.4% stake in JB Pharma for Rs.11,917 crore, at Rs.1,600 a share. This will trigger a mandatory open offer for up to 26% of JB Pharma's public shareholding at a price of Rs.1...