Marksans Pharma acquires US-based Time-Cap

The Mumbai-based Marksans Pharma Ltd has acquired controlling stake in US-based generic formulation maker Time-Cap Laboratories Inc. “Marksans Pharma Ltd, through its wholly owned subsidiary Marksans Pharma Inc, has acquired 100% stake of Time-Cap Laboratories Inc, a New York corporation,” said the company in a press release.
 
Established in 1979, Time-Cap is a leading manufacturer and marketer of solid dose generic pharmaceuticals, including private label over-the-counter (OTC) medications, generic prescription drugs and nutritional supplements. Time-Cap manufactures has a US FDA-approved production facility in Farmingdale (New York), where it manufactures over 50 unique products - including tablets, capsules and pellets.
 
Time-Cap's average annual revenue over the last four years is in excess of $ 30 million (about Rs 190 crore) per annum. The company, which has expertise in extended & delayed-release products and coating services, has substantial growth opportunities with a robust new product line in the pipeline.
 
With its acquisition of Time-Cap, Marksans is strategically increasing its presence in the US market, which is the largest pharmaceutical market in the world.
 
Mark Saldanha, managing director & CEO of Marksans Pharma, said, "Time-Cap offers Marksans an ideal platform to expand its operation in the US. This startegic acquisition helpd Marksans to expand its manufacturing caapabilities along with product portfolio and penetration into the US."
 
Marksans Pharma primarily focuses on OTC & prescription drugs that have wide-ranging applications across fields such as oncology, gastroenterology, antidiabetic, antibiotics, cardiovascular, pain management, gynaecology, etc.