AI assistant
Marksans Pharma Ltd. Capital/Financing Update 2022
62142_rns_2022-10-11_57752a26-8094-4fd5-97f0-2eca15ed9f1a.pdf
Capital/Financing Update
Open in viewerOpens in your device viewer
Date: l l" October, 2022
BSE Limited
Corporate Relation Department PhirozeJeejeeboi Towers, Dalal Street, Mumbai - 400001. Scrip Code: 524404
National Stock Exchangeoflndia Limited Listing Department Exchange Plaza, C-l, Block-G, Bandra-Kurla Complex, Bandra (East), Mumbai - 400051. Symbol: MARKSANS
Sub: Press Release
Dear Sir,
Please find enclosed herewith Press Release dated October 11, 2022 of Marksans Pharma Limited.
You are requested to note the above in your records.
Thanking You.
Yours faithfully, For Marksans Pharma Limited
DHAN PANIGRAHI Digitally signed by HARSHAVARDHAN PANIGRAHI Date: 2022.10.11 15:10:14 +05'30'
Harshavardhan Panigrahi Company Secretary
Enel: As Above
CIN : L2411 OMH 1992PLC066364 www.marksanspharma.corn
Marksans Pharma Ltd.
11th Floor, "GRANDEUR", Opp. Gundecha Symphony, Veera Desai Extension Road, Oshiwara, Andheri (W), Mumbai - 400 053 • Tel.: +91 224001 2000 • Fax: +91-224001 2011 E-mail: [email protected] HARSHAVAR
Marksans acquires capacity from Tevapharm India; Plans to double its manufacturing footprint to bolster the growth
Mumbai, October 11, 2022 -Marksans Pharma Ltd. (NSE: MARKSANS; BSE:524404), one of the fastest growing pharmaceutical companies in India, has entered into a Business Transfer Agreement with Tevapharm India Private Limited today, to acquire its business relating to the manufacture and supply of bulk pharmaceutical formulations in Plot No. Al, Phase l-A, Verna Industrial Estate, Verna, Goa 403722, India, as a going concern on a slump sale basis. Marksans has agreed to retain the site employees with existing terms of employment. The transaction is in cash consideration and is expected to be finalized by April 1, 2023, subject to the usual closing conditions. Teva's affiliate Watson Pharma Private Limited will continue to own and operate its other manufacturing site at Verna Industrial Estate, Verna Salcette, Goa, India.
Marksans will continue to supply Teva's affiliates for certain products until the end of FY23 as part of the agreement, which can be extended further with mutual agreement.
Commenting on the transaction, Mark Saldanha, Promoter and Managing Director of Marksans Pharma said, "l am excited to share that the acquisition has potential to significantly expand our manufacturing capability and accelerate our core growth strategy. It will supplement our innovative product portfolio, as we plan to begin manufacturing of creams, ointments, etc. in India. It is also a testament to our commitment to invest in product innovation, expand capacities, and drive market share gains. We are confident that this acquisition will lead to transformational growth journey unlocking further value for our shareholders."
Through the acquisition, the company plans to double the existing Indian capacity from 8bn units per annum currently. Marksans plans to manufacture tablets, hard and soft gel capsules, ointments, gummies, creams, from the new capacity. It is a scalable capacity to manufacture oral solid dosage forms. The new capacity will be an addition to the three existing manufacturing sites in Southport (UK), Farmingdale (US) and Goa (India). The manufacturing site is spread across 47,597 square meters and has approvals to manufacture products from EU, Health Canada & Japanese Health Authority.
Torreya acted as the exclusive financial advisor to Marksans Pharma Limited on their acquisition.
About Teva
Teva Pharmaceutical Industries Ltd. (NYSE and TASE: TEVA) has been developing and producing medicines to improve people's lives for more than a century. They are a global leader in generic and specialty medicines with a portfolio consisting of over 3,500 products in nearly every therapeutic area. Around 200 million people around the world take a Teva medicine every day and are served by one of the largest and most complex supply chains in the pharmaceutical industry. Along with their established presence in generics, they have significant innovative research and operations supporting their growing portfolio of specialty and biopharmaceutical products.
About Marksans Pharma ltd
Marksans Pharma Ltd. (www.marksanspharma.com) headquartered at Mumbai, India is engaged in Research, Manufacturing & Marketing of generic pharmaceutical formulation in the global markets. The company's manufacturing facilities are approved by several leading regulatory agencies including USFDA, UKMHRA and Australian TGA. The company's robust product portfolio spreads over major therapeutic segments of CVS, CNS, Antidiabetic, Pain Management, Gastroenterological and Antiallergies. The company is marketing these products globally.
Disclaimer
Certain statements in this press release concerning our future growth prospects may be forward looking statements, which involve a number of risks, and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The company's results may be affected by factors including, but not limited to, the risks and uncertainties in pharmaceutical research and development; competitive developments; regulatory actions; the extent and duration of the effects of the COVID-19 pandemic; litigation and investigations; business development transactions; economic conditions; and changes in laws and regulations, including health care reform. The company undertakes no duty to update forward-looking statements except as required by applicable law.
Contact Information Jitendra Sharma, CFO Marksans Pharma Ltd Tel: +91 022 40012000 [email protected]
Registered Office
11th Floor, "GRANDEUR" Off Veera Desai Extension Road Oshiwara, Andheri West Mumbai, Maharashtra, 400 053 Telephone: +91 224001 2000 Fax: +91 224001 2011 CIN: L24110MH1992PLC066364 ISIN: INE750C01026 NSECode: MARKSANS BSECODE: 524404 Website: http://www.marksanspharma.com
