Marksans Pharma is selling its API (Active Pharmaceutical Ingredient) business to Kores (India) Ltd.

The API business will be sold along with the manufacturing facilities located at Daund district in Pune, Maharashtra.

Marksans will be left with the formulation and bio pharma business.

Transaction Reference: Myiris

Marksans Pharma is engaged in manufactruing pharmaceutical formulations, active pharmaceutical ingredients, and biopharmaceuticals in India and internationally.

Kores (India) Ltd is a multi-divisional, multi-locational manufacturing organization with diversified interest in chemicals, pharmaceuticals, office products, business machines, engineering goods, textiles, etc.

Its pharma and healthcare division was established in 1981 as speciality chemicals division with a focus to manufacture speciality chemicals & pharmaceutical intermediates. With the changing time, the division has changed its focus mostly to manufacturing of Active Pharmaceutical Ingredients (APIs) and Pharmaceutical Intermediates.

In the pharma and healthcare space, for the past few months there have been some M&A's (both inbound and outbound). Among them, the major was Abbott's acquisition of Piramal Healthcare unit for $3.72 Bn. Super Religare Laboratories acquired Piramal's other business - Piramal Diagnostic Services Pvt Ltd. Cipla acquired 40% stake in Goa-based Mabpharm for US$40mn and a 25% holding in Shanghai-based BioMab for US$25mn, Lamda Therapeutic acquired Canada based CRO - Biovail CRO, Opto Circuits acquired US-based Unetixs Vascular Inc for $9.7 Mn and many others.

Bafna Pharmaceuticals is also looking to acquire an UK company to expand its UK footprint, while Ortin Laboratories is acquiring Vineet Laboratories through share swap deal.

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