Emcure's European subsidiary Tillomed acquires strategic pharma portfolio from Manx

Tillomed Laboratories Limited, a subsidiary of Emcure Pharmaceuticals Ltd. (BSE: 544210, NSE: EMCURE) and a leading European pharma company, has entered into an Asset Purchase Agreement (APA) with UK based Manx Healthcare Limited and its subsidiaries Manx Pharma Ltd and Manx Generics Limited (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."

Shares of Emcure Pharmaceuticals Limited was last trading in BSE at Rs. 986.85 as compared to the previous close of Rs. 1033.25. The total number of shares traded during the day was 8963 in over 1225 trades.

The stock hit an intraday high of Rs. 1045.55 and intraday low of 964.80. The net turnover during the day was Rs. 8954264.00.

Source : Equity Bulls

Keywords

EmcurePharmaceuticals INE168P01015 TillomedLaboratories AssetPurchaseAgreement ManxHealthcare