Pune: Gennova Biopharmaceuticals is set to enter its next phase of growth after Emcure Pharmaceuticals Limited announced the consolidation of its shareholding in the biopharma company and a leadership transition aimed at sharpening its focus on biologics and biosimilars.
Emcure Pharmaceuticals Limited (BSE: 544210, NSE: EMCURE) said it is acquiring the entire 12.05% minority stake in Gennova Biopharmaceuticals held by Dr. Sanjay Singh and others.
Following the acquisition, Gennova Biopharmaceuticals will become a wholly owned subsidiary of Emcure.
As part of the transition, Gennova Biopharmaceuticals will be led by Samit Mehta, who will oversee the company’s biologics franchise, biosimilars development, and adjacent therapeutic platforms.
The company said Gennova Biopharmaceuticals will continue to focus on its biologics portfolio, including Elaxim /TENECTASE, Vintor®, Xgrast /PEGEX and Hamsyl, while leveraging its established mammalian and microbial biomanufacturing platforms.
Commenting on the announcement, 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.”
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Following the ownership consolidation, Gennova Biopharmaceuticals will operate under Emcure’s “One Emcure” framework, strengthening the group’s biologics and biosimilars capabilities.
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.”
According to the company, Gennova Biopharmaceuticals will complement Emcure’s broader research and development strategy while maintaining its emphasis on execution, quality and disciplined product development across selected therapy areas.
Emcure also stated that the transaction is not expected to have a material impact on its consolidated financial performance or capital allocation framework.
The company added that its deleveraging trajectory, capital expenditure plans and research and development investment plans will remain unchanged.
With the ownership consolidation completed, Gennova Biopharmaceuticals will continue to strengthen its biologics franchise, biosimilars pipeline and manufacturing capabilities as part of Emcure’s long-term strategic priorities.
