Emcure to take full control of Gennova Biopharma with ₹232 crore stake acquisition

Emcure to take full control of Gennova Biopharma with ₹232 crore stake acquisition

Besides the consolidation of its shareholding, Emcure also announced a leadership transition under which Samit Mehta will lead Gennova

Emcure consolidates stake in Gennova, under stewardship of promoter family scion

Gennova is a ₹49-crore company and it mRNA business, at ₹6.47 crore, represented 0.71% of consolidated revenue of the company of ₹911.58 crore, Emcure said

Emcure consolidates Gennova ownership; Samit Mehta leads next phase of growth

Emcure Pharmaceuticals announced the consolidation of its shareholding in biopharma subsidiary Gennova Biopharmaceuticals (“Gennova”), alongside a leadership transition, as it sharpens its focus as a biologics and biosimilars company. Emcure is acquiring the entire 12.05% minority stake in Gennova held by Dr Sanjay Singh and others, taking its ownership to 100% and making Gennova a wholly owned subsidiary. Gennova will be led by Samit Mehta and …