Marksans Pharma claims majority stake in Nova Pharmaceuticals

By Elaine Rigoli

Tampa, Fla., March 2 - Marksans Pharma Ltd. has entered into a memorandum of understanding for acquiring a majority equity stake in Nova Pharmaceuticals Australasia pty Ltd.

This will be one of Marksans' first major investments in the international pharma market, according to a company news release.

Marksans said it hopes to be in a position to leverage its research and manufacturing infrastructure to fuel Nova's growth in Australian and New Zealand markets. Marksans said it would also be in a better position to market its own products in these markets through the Nova network.

All Nova products meet with the full requirements of the Australian Therapeutic Goods Administration.

Nova currently supplies products to retailers and pharmacies in Australia, the release said. The company has also entered into long-term perpetual contracts with leading pharmacies in Australia for supply of generics and over-the-counter products.

Nova specializes in high quality generic pharmaceutical products.

Marksans is a global health care company located in Mumbai, India.

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