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As a part of the agreement, Marksans will continue to supply existing products until the end of 2023 to Teva's affiliates, ensuring high-quality standards.
The acquired facility will enable Marksans Pharma to potentially double the existing Indian capacity from 8 billion units per annum currently. It is a scalable capacity to manufacture oral solid dosage forms. Marksans plans to manufacture tablets, hard and soft gel capsules, ointments, liquids and creams from the new capacity.
The manufacturing site is spread across 47,597 square meters and has approvals to manufacture products from the EU, Health Canada & Japanese Health Authority.
The contract manufacturing agreement with Teva is to continue providing an uninterrupted supply of Teva's important medicines to customers and patients. Teva's adjoining Watson Pharma‘s site is not part of the divestment with Marksans and will remain with Teva.
Mark Saldanha, managing director of the company said, “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 accelerate the growth of our business while expanding our product base and market share gains.”
Marksans Pharma is primarily engaged in the business of research, manufacture, marketing and sale of pharmaceutical formulations.
The company's consolidated net profit rose 31.4% to Rs 63.41 crore on 32.3% jump in net sales to Rs 479.83 crore in Q3 FY23 over Q3 FY22.
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