Shares of Marksans Pharma Ltd ended at ₹250.20, down by ₹2.90, or 1.15%, on the BSE.
Global healthcare investment firm, OrbiMed Asia IV Mauritius FVCI Ltd, on Tuesday (June 10) launched a block deal to sell 2.27% of its stake in pharmaceutical major Marksans Pharma Ltd, amounting to ₹256.8 crore.
The indicative floor price has been set at ₹249.95 per share. The block deal represents approximately 2.27% of Marksans Pharma’s total equity.
Last month, Marksans Pharma said its subsidiary secured marketing authorisation from the UK regulator for its oral solution used for treating high blood sugar levels.
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The company in a stock exchange filing said the UK Medicines and Healthcare Products Regulatory Agency (UKMHRA) issued market authorisation for the former’s subsidiary Relonchem Ltd’s Metformin Hydrochloride oral solution in the 500 mg/5 ml strength.
The approval marks an important milestone for Marksans Pharma as it expands its presence in the anti-diabetic therapeutic segment in the UK market, according to the company.
Metformin Hydrochloride Oral Solution is used in the treatment of type 2 diabetes and is an essential medication for patients requiring oral liquid dosage forms.
Also Read: Marksans Pharma arm receives regulatory approval for Sennosides tablets, shares gain 6%
Shares of Marksans Pharma Ltd ended at ₹250.20, down by ₹2.90, or 1.15%, on the BSE.
