India's Marksans Pharma jumps most in over 3 months on capacity acquisition

Marksans Pharma

12/10/2022 05:08

** Shares of Indian pharmaceutical company Marksans Pharma
Ltd  MARK.NS  rise as much as 17.3% to 54.60 rupees ($0.6634),
their biggest intraday pct gain since July 5
    ** MARK said late on Tuesday it had acquired capacity from
Tevapharm India in a cash deal, as it planned to double its
existing Indian capacity of 8 bln units per annum; co did not
disclose deal value
    ** Shares hit their highest level since Sept. 6
    ** More than 1.63 mln shares change hands by 0357 GMT vs
30-day avg of 727,809 shares
    ** Stock down 22.6% so far this year up to last close vs
Nifty Pharma Index's  .NIPHARM  9.8% fall
($1 = 82.3050 Indian rupees)
 (Reporting by Nandan Mandayam in Bengaluru)
 ((Nandan.Mandayam@thomsonreuters.com; Mobile: +91 9591011727;))