The indicative floor price has been established at ₹249.95 per share. This block deal accounts for roughly 2.27% of Marksans Pharma’s overall equity.
Last month, Marksans Pharma reported that its subsidiary obtained marketing authorization from the UK regulator for its oral solution designed for managing high blood sugar levels.
Also Read: Marksans Pharma subsidiary receives UK health regulator approval for epilepsy treatment drug
The firm disclosed in a stock exchange announcement that the UK Medicines and Healthcare Products Regulatory Agency (UKMHRA) granted market authorization for its subsidiary Relonchem Ltd’s Metformin Hydrochloride oral solution in the 500 mg/5 ml formulation.
This approval signifies a key achievement for Marksans Pharma as it bolsters its foothold in the anti-diabetic therapeutic sector within the UK market, according to the company.
Metformin Hydrochloride Oral Solution is indicated for the treatment of type 2 diabetes and serves as a vital medication for patients needing oral liquid dosage forms.
Also Read: Marksans Pharma subsidiary gains regulatory approval for Sennosides tablets, shares rise 6%
Marksans Pharma Ltd’s shares closed at ₹250.20, a decrease of ₹2.90, or 1.15%, on the BSE.
