Pune: Emcure Pharmaceuticals Limited (BSE: 544210, NSE: EMCURE) today announced the consolidation of its shareholding in biopharma subsidiary Gennova Biopharmaceuticals Limited (“Gennova”), alongside a leadership transition, as it sharpens its focus as a biologics and biosimilars company.
Emcure is acquiring the entire 12.05% minority stake in Gennova held by Dr. Sanjay Singh and others, taking its ownership to 100% and making Gennova a wholly owned subsidiary.
Gennova will be led by Samit Mehta and will focus on its biologics franchise — Elaxim®/TENECTASE®, Vintor®, Xgrast®/PEGEX® and Hamsyl® — biosimilars development, and adjacent therapeutic platforms, leveraging its established mammalian and microbial biomanufacturing platforms.
Satish Mehta, Managing Director & CEO, Emcure Pharmaceuticals Limited, said: “We thank Dr. Sanjay Singh for his nearly two decades of exceptional scientific leadership at Gennova. His stewardship has built platforms, products, and a culture that will continue to fulfil Gennova’s mission of transforming healthcare. 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.”
Samit Mehta, Whole Time Director &CEO, Gennova Biopharmaceuticals Limited, said: “As part of the One Emcure framework, Gennova will continue to anchor the Group’s biologics and biosimilars capabilities.
Our work will complement Emcure’s broader R&D and pipeline priorities, with a focus on execution, quality and disciplined development across our chosen therapy areas.”
The transaction is not expected to have a material impact on Emcure’s consolidated financials or its capital allocation framework. The Company’s deleveraging trajectory, capex plans and R&D investment plans remain unchanged.
