Marksans Pharma acquires US-based Time-Cap Labs

Published: 7-Jul-2015

Deal gives Marksans an ideal opportunity to increase its US presence


Mumbai based Marksans Pharma, through its wholly owned subsidiary Marksans Pharma Inc, has acquired a 100% stake in US solid dosage form manufacturer Time-Cap Laboratories. The transaction is valued at US$28m.

Based in New York, Time-Cap has a US FDA-approved production facility in Farmingdale, where it manufactures more than 50 products, including tablets, capsules and pellets.The company has expertise in extended and delayed release products and coating services.

Time-Cap's average annual revenue over the last four years was in excess of $30m.

Mark Saldanha, managing director and CEO of Marksans Pharma, said Time-Cap offers Marksans an ideal platform to expand its operation in the US. This strategic acquisition helped Marksans to expand its manufacturing capabilities along with its product portfolio.

Marksans Pharma primarily focuses on over-the-counter and prescription drugs that have wide ranging applications across fields such as oncology, gastroenterology, antidiabetic, antibiotics, cardiovascular, pain management and gynaecology.

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