Marksans Pharma's Goa Facility Inspection Success Boosts Stock by 2%

1 Nov 2023 , 02:21 PM

Marksans Pharma Ltd’s share price experienced a 2% increase on November 1 following the company’s announcement of a successful inspection of its recently acquired Goa-based facility by German health authorities.

The German health authorities identified a few minor points for improvement, and Marksans Pharma expressed its commitment to addressing them immediately.

In April of the same year, Marksans Pharma had completed the acquisition of the Goa manufacturing facility from Teva Pharmaceuticals India, with the acquisition initially announced in October of the previous year.

This acquisition is expected to potentially double the company’s existing Indian capacity from 8 billion units per annum.

Marksans Pharma is involved in research, manufacturing, and marketing of generic pharmaceutical formulations in global markets, with manufacturing facilities in India, the UK, and the US that have received approvals from leading regulatory agencies such as USFDA, UK MHRA, and Australian TGA.

The company’s product portfolio encompasses significant therapeutic segments including CVS, CNS, anti-diabetic, pain management, gastroenterological, and anti-allergies drugs.

In the prior month, Marksans Pharma announced the receipt of final approval from the US Food and Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) for Esomeprazole, used to treat specific stomach and esophagus issues such as acid reflux and ulcers.

The USFDA approval was granted for Esomeprazole Magnesium Delayed-Release Capsules USP, 20 mg (OTC), which is bioequivalent to AstraZeneca Pharmaceuticals’ Nexium 24 HR Delayed Release Capsules, 20mg (OTC).

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