Marksans Pharma, a pharmaceutical formulation manufacturer, witnessed a sharp rise in share price on Tuesday after the company 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. 

Shares of Marksans Pharma are trading at Rs 63.20, up Rs 4.45, or 7.57% at the Bombay Stock Exchange (BSE) on Tuesday at 12:49 p.m.

The scrip has touched an intra-day high of Rs 64.40 and low of Rs 58.85. The total volume of shares traded at the BSE is 1,667,881.