Marksans Pharma through its wholly owned subsidiary, Marksans Pharma Inc., has acquired 100% of the outstanding shares of Time-Cap Laboratories, Inc., a New York corporation having its principal office at Farmingdale, New York. With this acquisition, Marksans is strategically increasing its presence in the US market, which is the largest pharmaceutical market in the world.
Time-Cap Laboratories is a leading manufacturer and marketer of solid dose generic pharmaceuticals, including private label over-the-counter (OTC) medications, generic prescription drugs (Rx), and nutritional supplements. It manufactures over 50 unique products from its facility in Farmingdale, New York, including tablets, caplets, capsules and pellets. Time-Cap’s average annual revenue over the last four years is in excess of $30 million per annum, and it achieved an average annual adjusted EBITDA of approximately $4 million. The company presently has no debt.
Marksans Pharma is engaged in production of prescription drugs, caters in areas like oncology, gastroenterology, antidiabetic, cardiovascular, pain management, gynaecology and others.
