Our Bureau

Mumbai, March 2

Marksans Pharma Ltd has entered into an agreement with Nova Pharmaceuticals Ltd, Australia to acquire the majority stake in Nova Pharmaceuticals Australasia PTY Ltd.

The move would help Marksans Pharma leverage its manufacturing capabilities and strengthen its global foothold, the company told the BSE.

This is one of the first major investments by the company in the international pharma market. Marksans has a manufacturing facility with regulatory approvals from Australia and the Nova acquisition will provide a synergy, the company said. The Australian pharmaceutical market is growing as the demand for medicine continues to rise.

(This article was published in the Business Line print edition dated March 3, 2006)
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