Emcure buys remaining 12.05% in Gennova to take full control

Mumbai: Emcure Pharma is taking full control of its biopharma subsidiary, Gennova Biopharmaceuticals, by buying out the remaining 12.05% stake held by Gennova's chief executive Sanjay Singh and other shareholders.

Pune-based Emcure conveyed this in a stock exchange filing on Monday.

Emcure currently holds an 87.95% stake in Gennova. It will pay ₹139.5 crore for the remaining stake in Gennova, which will be transferred as a going concern.


Emcure will initiate a leadership transition to sharpen its focus as a biologics and biosimilars organisation.

Emcure said Gennova will be led by Samit Mehta and focus on its brands, including Elaxim, Tenectase, Vintor and Xgrast, alongside a raft of biosimilars under development, and adjacent therapeutic platforms.

The company will continue to leverage its established mammalian and microbial biomanufacturing platforms.

Satish Mehta, Emcure's managing director, said, "With this stake acquisition, we simplify Gennova's ownership, sharpen its strategic focus, and position it under Samit Mehta's leadership for its next phase of growth in biologics and biosimilars."

The transaction is not expected to have a material impact on Emcure's consolidated financials or its capital allocation framework.

Meanwhile, Gennova has divested its mRNA business to Sanjay Singh, who spent nearly 20 years at the helm of the company and has exited to form a new company, Immunoscript Lifesciences.