Emcure Pharma's European arm acquires Manx Healthcare for 19.7 million

Emcure Pharmaceuticals said that its European subsidiary Tillomed Laboratories has entered into an asset purchase agreement (APA) with UK based Manx Healthcare.

The APA has also been inked with the subsidiaries of Manx, viz. Manx Pharma and Manx Generics.

Tillomed Laboratories is a leading European pharmaceutical company focused on developing, licensing, and marketing high-quality generic medicines. Headquartered in Luton, UK, Tillomed operates across multiple European markets, ensuring access to cost-effective healthcare solutions.

Under the APA, Tillomed will acquire Manxs product portfolio inclusive of relevant dossiers, marketing authorisations, intellectual property and the relevant stocks for around 19.7 million (including 4.7 million for inventory).

Of the total consideration, 6.2 million will be upfront and rest as milestone payments over the next 18 months.

Commenting on the development, Ajit Srimal, CEO, Tillomed said: Through the acquisition of Manxs established and high-quality products portfolio, we reinforce our commitment to delivering accessible healthcare solutions.

The acquired assets will help diversify our portfolio and strengthen our market presence.

Pune-based Emcure Pharmaceuticals is a leading Indian pharma company engaged in developing, manufacturing and globally marketing a broad range of pharmaceutical products.

The companys consolidated net profit surged 35.5% to Rs 153.72 crore in Q3 FY25 as against Rs 113.45 crore posted in Q3 FY24. Revenue from operations jumped 17.7% YoY to Rs 1,962.63 crore in the quarter ended 31 December 2024.

The scrip tumbled 4.90% to currently trade at Rs 982.60 on the BSE.

Powered by Capital Market - Live News