Emcure Pharmaceuticals Acquires Full Ownership of Gennova, Appoints Samit Mehta as CEO
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The transition also marks the end of Dr Sanjay Singh's nearly two decades of leadership at Gennova.
Emcure Pharmaceuticals, a multinational pharmaceutical and biopharma company headquartered in Pune, has acquired the remaining 12.05% stake in Gennova Biopharmaceuticals, a Maharashtra-based pharma company, making it a wholly owned subsidiary and sharpening its focus on biologics and biosimilars.
Samit Mehta has taken charge of Gennova as it enters its next phase of growth under the One Emcure framework.
The latest restructuring follows Emcure's long-term strategy to consolidate its biologics operations under a single ownership structure.
Satish Mehta, Managing Director & CEO, Emcure Pharmaceuticals, said, “With this stake acquisition, we simplify Gennova’s ownership, sharpen its strategic focus, and position it under Samit Mehta’s leadership for its next phase of growth in biologics and biosimilars.”
Gennova has been a key part of Emcure's biopharmaceutical portfolio for over two decades, building capabilities in recombinant biologics, biosimilars and complex biologic manufacturing.
Incorporated in 2001 and renamed Gennova Biopharmaceuticals in 2006, the company has developed products across oncology, nephrology, critical care and supportive therapies while establishing mammalian and microbial biomanufacturing platforms.
The transaction values the stake at approximately INR 231.8 Cr and simplifies the ownership structure of the biologics business.
Going forward, Gennova will concentrate on expanding its biologics franchise, including Elaxim (TENECTASE), Vintor, Xgrast (PEGEX) and Hamsyl, while advancing its biosimilars pipeline and adjacent therapeutic platforms.
The company said it will continue to leverage its established manufacturing capabilities to support future product development and commercial growth.
The transition also marks the end of Dr Sanjay Singh's nearly two decades of leadership at Gennova. He has established a separate company, ImmunoScript Life Sciences, which will house the messenger RNA (mRNA) business following an earlier business transfer agreement.
Samit Mehta, Whole Time Director & CEO, Gennova Biopharmaceuticals, said, “As part of the One Emcure framework, Gennova will continue to anchor the Group’s biologics and biosimilars capabilities. Our work will complement Emcure’s broader R&D and pipeline priorities, with a focus on execution, quality and disciplined development across our chosen therapy areas.”
Emcure Pharmaceuticals stated that the acquisition is not expected to have a material impact on its consolidated financial performance.
The company added that its planned capital expenditure, debt reduction roadmap and R&D investments will continue as previously outlined, while Gennova focuses on expanding its role within the group's biologics portfolio.
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