Drugmaker Marksans Pharma has informed that it has acquired UK-based generic pharmaceutical company Relonchem for Rs 100 crore.
Relonchem is engaged in licensing, marketing and supplying generic pharmaceutical products in major therapeutic classes. The company has registered sales of around $32 million during the financial year 2007.
United Kingdom is the second-largest generics market in the European Union (EU) after Germany, accounting 26% of the region’s total value.
Analysts tracking the sector said that the latest acquisition will give Marksans Pharma an immediate marketing, distribution and sales presence in the highly profitable but regulated generic markets of UK and Europe.
This is Marksans Pharma’s second acquisition in Europe. Early this year, the company had acquired Hale Group, the parent company of Bell, Sons & Co (druggist), through its UK-based subsidiary Marksans Pharma (UK).
Marksans Pharma is the second-largest producer of Ciprofloxacin and Ranitidine in India. The company plans to use a combination of cash-on-handand debt to fund the acquisition.