The shareholders of Marksans Pharma Limited have voted in favour to issue 493.24 lakhs convertible warrants at Rs. 74 per warrant totalling to Rs. 365 crore to OrbiMed, a global healthcare investment firm with over US $19 billion assets under management.

OrbiMed has an option to convert the warrants into equity shares and thereafter will own around 10.7% stake in the company. The shareholders have also ratified the Board’s approval to allot 10 lakhs warrants to the Promoter, Managing Director and CEO, Mark Saldanha at the said price of Rs. 74 per warrant.

Commenting on the event, Mark Saldanha, Managing Director and CEO, Marksans Pharma Limited said, “We are excited to welcome OrbiMed as a strategic partner in our journey of becoming a global pharmaceutical company. OrbiMed’s investment in our company reinvigorates faith in our unique business model. I am confident that OrbiMed’s global network and resources will be the one of the key catalysts for Marksans’ next leap forward.”

Marksans Pharma has created a unique business model through a diverse manufacturing base across the world along with front-end presence in key markets such as US and Europe. OrbiMed’s rich experience and understanding of the healthcare sector across the world will enable Marksans to accelerate efforts to become a fully integrated global pharma company.