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| Exchange Disseminated Time | Marksans Pharma Ltd has informed BSE that, pursuant to the resolution passed by the Shareholders of the Company through voting by postal ballot which was announced on February 02, 2010, the Company has entered into a Business Transfer Agreement on July 28, 2010 with Kores (India) Limited for sale and transfer of its Active Pharmaceutical Ingredient (API) business together with the manufacturing facilities located at Plot No. A88 & Plot No. D10, M.I.D.C., Village - Kurkumbh, Tal - Daund, Dist. Pune, Maharashtra as a going concern on the terms and conditions as set out in the said Business Transfer Agreement.
After hiving off the API business, the Company intends to focus more on the international formulation business which has tremendous growth potentials. |
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