Marksans acquires capacity from Tevapharm India

Marksans Pharma entered into a Business Transfer Agreement with Tevapharm India yesterday, to acquire its business relating to the manufacture and supply of bulk pharma formulations in Goa, as a going concern on a slump sale basis, a statement from Marksans Pharma has notified.

The statement said that the transaction is in cash consideration, and is expected to be finalised by 1st April, 2023, subject to the usual closing conditions. Marksans has agreed to retain the site employees with the existing terms of employment. It 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.

Through the acquisition, the company plans to double the existing Indian capacity from eight billion units per annum, currently. Marksans plans to manufacture tablets, hard and soft gel capsules, ointments, gummies and 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 (The US) and Goa (India). The manufacturing site is spread across 47,597 square metres, and has approvals to manufacture products from the EU, Health Canada and Japanese Health Authority, concluded the statement.