Emcure Pharma is taking full control of its biopharmaceutical arm, Gennova Biopharmaceuticals, through the acquisition of a minority stake. According to reports, Emcure buys shares held by Dr Sanjay Singh and other minority shareholders, consolidating its shareholding and resulting in Gennova becoming a wholly owned subsidiary of the Emcure group. One outlet also reports the deal size as ₹232 crore for the stake acquisition. The move is described as part of Emcure’s restructuring of its biopharmaceutical business, centralising operations across biopharmaceuticals, complex biologics and biosimilars under Gennova.
In parallel with the ownership change, Emcure announces a leadership transition for the subsidiary. Samit Mehta is named as the chief executive officer to lead Gennova following the consolidation. The overall framing across sources is that Emcure’s acquisition and management changes are aimed at positioning the biotech unit with a focused strategy in biologics and biosimilars within the group.
