Marksans Pharma, a pharmaceutical formulation manufacturer, through its wholly owned subsidiary, Marksans Pharma Inc acquired 100% of the outstanding shares of Time-Cap Laboratories, Inc a New York corporation.

With this acquisition, the company is strategically increasing its presence in the US market, which is the largest pharmaceutical market in the world.

Mark Saldanha, MD and CEO of Marksans Pharma said, ''Time-Cap offers Marksans an ideal platform to expand its operation in the US. This strategic acquisition helps Marksans to expand its manufacturing capabilities along with product portfolio and penetration into the US.''

This acquistion is expected to be EPS accretive. 

Shares of the company gained Rs 3.25, or 5.53%, to trade at Rs 62. The total volume of shares traded was 408,783 at the BSE (10.04 a.m., Tuesday).