Pune-based Emcure Pharmaceuticals has announced a transaction to acquire the remaining 12.05% stake in its subsidiary, Gennova Biopharmaceuticals, for ₹139.5 crore. The buyout, executed with former CEO Sanjay Singh and other minority shareholders, consolidates Emcure’s ownership from 87.95% to 100%. This move simplifies Gennova’scorporate structure and sharpens its strategic focus on the high-growth biologics and biosimilars market.
As part of this consolidation, Gennova is initiating a key leadership transition. Samit Mehta has been appointed to lead the organization through its next growth phase. Under his leadership, Gennova will leverage its robust mammalian and microbial biomanufacturing platforms to drive its core brand portfolio including Elaxim, Tenectase, Vintor, and Xgrastalongside a pipeline of emerging biosimilars and adjacent therapeutic platforms.
Concurrently, Gennova has given authority of its mRNA business to Sanjay Singh, who has exited the firm to launch a new venture, Immunoscript Lifesciences. Emcure Managing Director Satish Mehta stated that the transaction positions Gennova for accelerated biologics innovation while having no material impact on Emcure’s consolidated financials.
Written by: Pragna Biswas
Graphics by: Pramit Hazra
