Emcure Pharmaceuticals on Monday (July 13, 2026) said it is acquiring remaining 12.05% stake in subsidiary Gennova Biopharmaceuticals in a ₹232 crore deal.
Gennova, in which Emcure currently holds 87.95%, will become a wholly owned subsidiary on completion of the transaction as part of which the 12.05% minority stake held by founder Sanjay Singh and others is being acquired.
Besides the consolidation of its shareholding, Emcure also announced a leadership transition under which Samit Mehta will lead Gennova and sharpen focus on the biologics franchise, biosimilars development and adjacent therapeutic platforms, leveraging the established mammalian and microbial biomanufacturing platforms.
Thanking Mr. Singh for his nearly two decades of scientific leadership at Gennova, MD and CEO of Emcure Pharmaceuticals Satish Mehta said “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 Mr. Samit Mehta’s leadership for its next phase of growth in biologics and biosimilars.”
Gennova will continue to anchor the Group’s biologics and biosimilars capabilities. “Our work will complement Emcure’s broader research and developement and pipeline priorities, with a focus on execution, quality and disciplined development across our chosen therapy areas,” Mr. Samit Mehta said.
Emcure said the transaction is not expected to have a material impact on its consolidated financials or its capital allocation framework.
Gennova Biopharmaceuticals had recently executed a Business Transfer Agreement for transfer of its mRNA business as a going concern on a slump sale basis to Immunoscript Life Science, a company promoted by Mr. Singh, for ₹139 crore.
Published - July 13, 2026 09:12 pm IST