Emcure arm Tillomed acquires Manx Pharma portfolio for Rs 218.67 cr

Tillomed Laboratories, the European subsidiary of Emcure Pharmaceuticals, has acquired the pharmaceutical portfolio from United Kingdom-based Manx Healthcare for approximately 19.7 million GBP (approximately Rs 218.67 crore). The acquisition, announced on Friday, is aimed at enhancing Tillomed’s product offerings and expanding its presence across European markets.

 

The deal includes the purchase of product dossiers, marketing authorisations, intellectual property, and inventory. As per the agreement, Tillomed will pay 6.2 million GBP upfront (approximately Rs 68.82 crore), while the remaining 13.5 million GBP (approximately Rs 149.85 crore) will be disbursed as milestone-based payments over the course of the next 18 months. Of the total consideration, 4.7 million GBP (approximately Rs 52.17 crore) accounts for inventory.

   

Commenting on the acquisition, Ajit Srimal, chief executive officer, Tillomed, said, “Through the acquisition of Manx’s established products portfolio, we will be delivering accessible healthcare solutions. The acquired assets will help diversify our portfolio and strengthen our market presence.”

 

Headquartered in Luton, United Kingdom, Tillomed is a player in the European generics market, offering more than 100 products across several therapeutic areas. The company is focused on providing cost-effective healthcare solutions and operates in multiple European markets.

 

Tillomed's parent company, Emcure Pharmaceuticals, is a pharmaceutical major based in Pune, with a presence in over 70 countries, including Europe and Canada. Emcure was ranked as the 12th largest pharmaceutical company in India by domestic sales for the 12-month period ending June 2024.

 

Earlier this week, Emcutix Biopharmaceuticals, a wholly owned subsidiary of Emcure, announced an in-licensing agreement with WiQo, an Italian derma-cosmetic and medical device company.

 

Pharmaceutical stocks witnessed weak sentiment due to tariff uncertainty, with Emcure Pharmaceuticals shares also slipping by 4.13 per cent, ending the day’s trade at Rs 990 apiece.