India Ratings and Research (Ind-Ra) has upgraded Marksans Pharma (MPL) long-term issuer rating to 'IND A' from 'IND A-'. The outlook is stable.

The upgrade reflects MPL's improvement in financial and operational performance in FY15. Ind-Ra expects further strengthening in the company’s operating profile due to the acquisition of Time-cap Labs (TCL) to increase its focus in US markets.

Ind-Ra believes that this strategic acquisition will help MPL to expand its manufacturing capabilities along with product portfolio and penetration into the US. It will also help MPL to repackage its existing products in TCL's packaging unit and achieve higher sales and margins from the US market.