Marksans Pharma will buy Tevapharm's bulk formulations business

12 Oct 2022 , 07:44 AM

The Goa-based bulk pharmaceutical formulations business of Tevapharm India has agreed to be acquired by the pharmaceutical company Marksans Pharma.

In order to purchase Tevapharm’s business connected to the production and distribution of bulk pharmaceutical formulations as a continuing concern on a slump sale basis, the company and Tevapharm have engaged in a business transfer agreement.

According to Marksans Pharma’s regulatory filing, the pharmaceutical company has committed to maintaining the site employees’ current employment conditions.

The deal is for cash, and completion is anticipated on April 1st, 2023.

The other Tevapharm production facility in Verna, Goa, will continue to be owned and run by Teva’s affiliate, Watson Pharma.

For feedback and suggestions, write to us at [e-mail]