Marksans Pharma Completes The Acquisition From Tevapharm India

Marksans Pharma Limited, an Indian pharmaceutical business, has completed the acquisition of a production facility from Tevapharm India, according to an exchange filing. The deal was first announced in October 2022. Marksans will begin operations at the acquired plant once the deal is completed. As part of the deal, Marksans will continue to provide existing goods to Teva's affiliates until the end of 2023, assuring strong quality standards. The contract manufacturing deal with Teva is designed to ensure that customers and patients continue to have access to Teva's critical medications.

Marksans has agreed to keep the transferring employees on terms that are substantially similar to its current employment. Teva's adjacent Watson Pharma Private Limited facility is not part of the Marksans transaction and will remain with Teva. The acquired facility will allow Marksans Pharma to possibly treble its current Indian capacity of 8 billion units per year. It is a scalable capacity for the production of oral solid dosage forms. Marksans intends to use the expanded capacity to produce tablets, hard and soft gel capsules, ointments, liquids, and creams.

The manufacturing location is 47,597 square metres and holds product approvals from the EU, Health Canada, and the Japanese Health Authority. Mark Saldanha, Managing Director of the Company, commented on the acquisition, saying, "The completion of the manufacturing capacity from Tevapharm India is a significant milestone to strengthen our position as a leading low-cost manufacturer and to provide high-quality products to meet the growing demands of our customers." It will expedite our company's growth while expanding our product line and increasing our market share. We are still committed to investing in our future, which will pave the way for the next step of our growth path."