Marksans Pharma acquires US drugmaker Time-Cap Labs
Indian drugmaker Marksans Pharma (BSE: 524404) has acquired USA-based Time-Cap Laboratories for an undisclosed amount, according to Indian media reports.
With this move, the company is strategically increasing its presence in the US market, the largest pharmaceutical market in the world, Marksans Pharma said in a filing to BSE. Shares of Marksans rose over 9% to touch an intraday high of 64.40 rupees.
New York-based Time-Cap is a manufacturer and marketer of solid dose generic pharmaceuticals, including private label over-the-counter medications, generic prescription drugs and nutritional supplements.
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