M&A

M&A

Emcure Pharma acquires residual 12.05% stake in Gennova for Rs.140-Cr

NSE Announcement   Economic Times  

Publicly listed Emcure Pharma has acquired the remaining 12.05% stake in fellow Pune-based Gennova Biopharmaceuticals for INR 139.5 crore.Founded in 2001, Gennova focuses on biomanufacturing platforms, including mammalian and microbial technologies, and maintains a portfolio of brands such as Elaxim, Tenectase, Vintor, and Xgrast. Emcure plans to use the acquisition to sharpen the subsidiary’s focus on its biologics and biosimilars business. Gennova will be led by Samit Mehta.

For FY25, Gennova Biopharmaceuticals had reported about INR 430 Cr in Operating Income and about INR 11 Cr in Net Loss.