Marksans Pharma acquires UK's Bell, Sons and Co

Marksans Pharma said it has acquired the UK-based pharma company Hale Group for an undisclosed amount.

The UK-based subsidiary of the company, Marksans Pharma (UK), has entered into a definitive agreement with Hale Group, the parent company of Bell, Sons and Co (Druggists), to acquire the latter, Marksans said in a filing to the Bombay Stock Exchange.

"The acquisition of Bell will further increase the company's revenue and earnings contribution from the regulated markets. With the acquisition, the company's global revenues from the regulated market are expected to cross 50 per cent of its total revenues," the company added.

Marksans would have access to 34 product licenses of Bell, following the acquisition.

"The acquisition is in line with Marksan's global strategy. The company now has a presence in two major countries, UK and Australia, for which it holds manufacturing approvals," Marksans Managing Director Mark Saldanha said.

Bell, Sons and Co, which manufactures and markets over the counter (OTC) pharmaceutical products, is approved by the UK Medicines and Healthcare Products Regulatory Agency.

The customers of Bell include retailers in the OTC sector, pharmacies, chemists, wholesalers and cash-and-carry outlets. It's product profile includes non-sterile liquids, ointments and powders.

The company has a vast distribution network throughout the UK and overseas. It exports products to over 20 countries and these revenues contribute one third of its total sales, Bell added.

Marksans acquired a majority stake in the Australia-based Nova Pharmaceuticals last year. The shares of Marksans closed at Rs 333.60, down by 1.77 per cent or Rs 6, on the Bombay Stock Exchange.