MUMBAI: Marksans Pharma (UK), a subsidiary of Marksans Pharma, has entered into a definitive agreement to acquire 100 per cent share capital of Hale Group, the parent company of Bell, Sons & Co (Druggists). Through this acquisition, the company will have access to 34 product licenses of Bell in the UK. Bell is a zero debt company.
Bell is a well established and highly reputed manufacturer of over-the-counter pharmaceuticals products, has full approval of the UK Medicines and Healthcare Products Regulatory Agency, and currently holds 34 approved product licenses. With this acquisition, the company's global revenue from the regulated markets is expected to cross 50 per cent of total revenue.
"Marksans Pharma plans to fortify its presence in the highly regulated market space. With this acquisition the company currently holds manufacturing approvals in two countries such as UK and Australia. Last year, it acquired majority stake in Nova Pharmaceuticals, an Australian based company," said Mark Saldanha, managing director of Marksans Pharma (UK).
On Friday, Marksans Pharma shares were up 1.40 per cent at Rs 339.60 on BSE. Today the stock was down 0.80 per cent at Rs 336.90, in line with the weak market.
Bell is a well established and highly reputed manufacturer of over-the-counter pharmaceuticals products, has full approval of the UK Medicines and Healthcare Products Regulatory Agency, and currently holds 34 approved product licenses. With this acquisition, the company's global revenue from the regulated markets is expected to cross 50 per cent of total revenue.
"Marksans Pharma plans to fortify its presence in the highly regulated market space. With this acquisition the company currently holds manufacturing approvals in two countries such as UK and Australia. Last year, it acquired majority stake in Nova Pharmaceuticals, an Australian based company," said Mark Saldanha, managing director of Marksans Pharma (UK).
On Friday, Marksans Pharma shares were up 1.40 per cent at Rs 339.60 on BSE. Today the stock was down 0.80 per cent at Rs 336.90, in line with the weak market.
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