This drug company just made a killing on the bourses. Know why

Shares off midcap drugs major Marksans Pharma were locked up on the 20 percent circuit limit and were trading at 1-year highs on continuing enthusiasm about the company's recent purchase of a US-based generic drugs maker.

Marksans said on June 30th that it had purchased 100 percent of Time-Cap Labs, which has a turnover of about 30 million dollars a year and reported an operating profit of 4 million dollars.

Marksans will be able to expand its presence in the fast growing US generics space after this purchase, the company said in a statement.

Meanwhile, its stock was trading at 84.60 rupees, up 14.1 rupees with 2.3 crore shares changing hands on the NSE. The stock closed at 63.80 rupees on June 30.

Marksans reported a net profit of 12.3 crore rupees on sales of 94 crore rupees for the last quarter of March 2015 compared with an after tax profit of 5.3 crore rupees and sales of 84.3 crore rupees in the same quarter a year ago.


(image credits: marksanspharma)