Marksans Pharma Ltd has informed that the company's subsidiary, Marksans Pharma (UK) Ltd, has entered into a definitive agreement to acquire 100 per cent of the share capital of Hale Group Ltd, the parent company of Bell, Sons & Co (Druggists) Ltd (Bell). Through this acquisition, the company will have access to 34 product licenses of Bell, situated near Liverpool, in the UK.
Bell is a well established and highly reputed manufacturer and marketer of over the counter ("OTC") pharmaceuticals products, has full approval of the UK Medicines and Healthcare Products Regulatory Agency ("MHRA") and currently holds 34 approved product licenses.
Mark Saldanha, managing director of the company states "The acquisition is in line with the company's global strategy. The company plans to fortify its presence in the highly regulated market space. With this acquisition the company now has presence in two major countries, UK and Australia for which it holds manufacturing approvals. Last year, we acquired a majority stake in Nova Pharmaceuticals, an Australian based company. These acquisitions will fuel the growth of Marksans global strategy".
The company manufactures licensed products born as own branded products and for certain customers. Customers include retailers in the OTC sector, pharmacies, chemists, wholesalers and cash and carry outlets. It is extremely well established in a number of export markets. The company products take the form of non-sterile liquids, ointments and powders. It has a vast distribution network throughout the UK and overseas. The company exports its products to over 20 countries and its exports revenue contributes one third of its total sales.
Bell is a stable and profitable OTC business, supported by decades of market experience and strong brand loyally.
Bell has a highly experienced management team with an average of 20 + years in the industry and 10 + years at Bell current management team to continue. Bell is a profitable company with high growth outlook and the same will be accretive to the company's earning from the date of acquisition.
The acquisition of Bell will further increase the company's revenue and earnings contribution from the regulated markets. With the acquisition the company's global revenues from the regulated market is expected to cross 50 per cent of its total revenue. Bell is a zero debt company.
No comments:
Post a Comment