Emcure Pharmaceuticals Limited (BSE: 544210 | NSE: EMCURE) has announced the acquisition of the remaining minority stake in Gennova Biopharmaceuticals Limited, making the biotechnology company a wholly owned subsidiary as it sharpens its strategic focus on biologics and biosimilars. The transaction involves the acquisition of the entire 12.05% minority shareholding held by Dr Sanjay Singh and other shareholders, increasing Emcure’s ownership in Gennova to 100%. The move is part of the company’s broader strategy to strengthen its biologics platform and streamline operations under the “One Emcure” framework.
Alongside the ownership consolidation, Gennova will enter a new phase of leadership with Samit Mehta taking charge of the company. Under his leadership, Gennova will focus on expanding its biologics portfolio, advancing biosimilar development programs and strengthening capabilities across adjacent therapeutic platforms. The company will continue to leverage its established mammalian and microbial biomanufacturing platforms to accelerate product development and commercial growth.
Gennova has built a strong presence in the biologics segment with products including Elaxim®/TENECTASE®, Vintor®, Xgrast®/PEGEX® and Hamsyl®. The company is expected to continue supporting Emcure’s research and development strategy through innovation-driven biologics and specialty therapies.
Commenting on the development, Satish Mehta, Managing Director and CEO of Emcure Pharmaceuticals, acknowledged the contributions of Dr. Sanjay Singh, who has led Gennova for nearly two decades. He said the ownership consolidation simplifies the company’s structure while positioning Gennova for its next phase of growth in biologics and biosimilars under Samit Mehta’s leadership.
Samit Mehta, Whole-Time Director and CEO of Gennova Biopharmaceuticals, said the company will continue to serve as the biologics and biosimilars arm of the Emcure Group. He noted that Gennova’s development strategy will remain focused on execution excellence, product quality and disciplined research across selected therapeutic areas, while complementing Emcure’s broader innovation pipeline.
Emcure stated that the transaction is not expected to have a material impact on its consolidated financial performance or capital allocation plans. The company’s deleveraging roadmap, capital expenditure programme and investments in research and development will continue as planned.
Headquartered in Pune, Emcure Pharmaceuticals is among India’s leading research-driven pharmaceutical companies, engaged in developing, manufacturing and marketing a broad portfolio of pharmaceutical products across multiple therapeutic segments. Established in 1981, the company is ranked among the country’s largest pharmaceutical manufacturers by domestic sales and has a commercial presence in more than 70 countries, including key markets in Europe and Canada. The consolidation of Gennova reinforces Emcure’s long-term commitment to expanding its biologics capabilities and strengthening its position in the global specialty pharmaceuticals market.
