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Systematix Research Report
We recently met the management of Marksans Pharma Ltd. The company is focused on the private label over-the-counter drugs market which represents 70% of their sales.
Led by prudent acquisitions made in the past, they have been able to create capital efficiencies which allow them to compete even in an adverse price environment as it exists today. U.S. and UK are their largest end markets.
Their aspiration is to achieve a similar scale as Perrigo in the private label OTC space. There is large headroom with respect to expanding in the U.S.
There are multiple product categories in the OTC basket wherein Marksans is yet to make inroads. Their imminent focus is to get into the creams and ointments OTC category as the Teva plant acquisition gives them requisite capacities.
Teva's Goa plant has potential to double company level revenues with incremental investments in new capex. Imminently, the company will look at leveraging the facility to launch products in the Australian and UK market in the next three-six months.
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