Drug Maker Marksans Pharma had
acquired US based Time-Cap Laboratories for an undisclosed amount. The
acquisition was done through its wholly owned subsidiary Marksans Pharma. With
the move, the company is strategically increasing its presence in the US
Market, the largest pharmaceutical market in the world.
Marksans is engaged in research and
development, manufacturing and marketing of generic drugs. New York based Time-cap
manufactures solid dosage generic drugs, including private label over the
counter medications, prescriptions drugs and nutritional supplements. Its
average annual revenue over the last four years is over $30 Million and it
achieved an annual adjusted EBITDA of approx. $4 Million.
The company currently has no debt.
The company manufactures over 50 unique products from its New York facility,
including tablets, caplets, capsules, and pellets. Time-cap offers Marksans an
ideal platform to expand its operation in the US. The strategic acquisition
helps Marksans to expand its manufacturing capabilities along with product
portfolio and penetration in the US. Shares of Marksans rose over 6% after the
company reached an agreement with its bondholders.
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