Tillomed Laboratories, a subsidiary of Emcure Pharmaceuticals, has entered into an Asset Purchase Agreement (APA) with UK based Manx Healthcare and its subsidiaries, Manx Pharma and Manx Generics (collectively Manx).
Under the APA, Tillomed will acquire Manx's product portfolio inclusive of relevant Dossiers, Marketing Authorisations, Intellectual Property (collectively Intellectual Properties) and the relevant stocks for around 19.7 mn (including 4.7mn for inventory) of which 6.2 mn will be upfront and rest as milestone payments over the next 18 months.
The deal marks a strategic milestone for Tillomed and will strengthen the company's product offerings, expand its market reach, and enhance its ability to meet the evolving needs of patients.
Commenting on the development, Ajit Srimal, CEO Tillomed said, Through the acquisition of Manx's 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.
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