Marksans Pharma shares up 4% on $50 million overseas acquisition plan
Marksans Pharma shares climbed nearly 4 per cent on news the firm has earmarked $50 million for acquisitions in Europe and US, in an effort to kickstart growth in the higher margin regulated markets.
By INDIATIMES NEWS NETWORK |
MUMBAI: Marksans Pharma shares climbed nearly 4 per cent on news the firm has earmarked $50 million for acquisitions in Europe and US, in an effort to kickstart growth in the higher margin regulated markets.
Mumbai-based Marksans has three drug making units in India besides one unit in UK through the Hale acquisition. The latter will be used to service UK, Australia, Middle East and eventually the US market.
It will also invest Rs 100 million to 150 million by September to buy a drug unit in Baddi in Himachal Pradesh, to avail tax breaks provided for manufacturing units there.
At 11:01 am, the Marksans Pharma share rose 3.67 per cent to Rs 269.95 with volume traded at 50,991 against two-week average of 1,48,573 shares.
Mumbai-based Marksans has three drug making units in India besides one unit in UK through the Hale acquisition. The latter will be used to service UK, Australia, Middle East and eventually the US market.
It will also invest Rs 100 million to 150 million by September to buy a drug unit in Baddi in Himachal Pradesh, to avail tax breaks provided for manufacturing units there.
At 11:01 am, the Marksans Pharma share rose 3.67 per cent to Rs 269.95 with volume traded at 50,991 against two-week average of 1,48,573 shares.
Too busy to trade in stocks? Invest in Mutual Funds with ET Money!
Bookmark or read stories offline -
Download ET Markets APP
Download ET Markets APP
ADVERTISEMENT
