Emcure Completes 100% Acquisition of Gennova, Appoints Samit Mehta to Lead
New Delhi: Emcure Pharmaceuticals Limited has acquired the remaining 12.05% minority stake in its biopharmaceutical subsidiary, Gennova Biopharmaceuticals Limited, making it a wholly owned subsidiary as the company sharpens its strategic focus on biologics and biosimilars.
The acquisition involves the purchase of the entire minority stake held by Dr. Sanjay Singh and other shareholders, increasing Emcure's ownership in Gennova from 87.95% to 100%.
Alongside the ownership consolidation, Emcure has announced a leadership transition at Gennova. The company will now be led by Samit Mehta, who will oversee the expansion of Gennova's biologics franchise, biosimilars pipeline and adjacent therapeutic platforms.
Gennova's portfolio includes biologic products such as Elaxim/TENECTASE, Vintor, Xgrast/PEGEX and Hamsyl. The company will continue to leverage its established mammalian and microbial biomanufacturing platforms to support future growth.
Commenting on the development, Satish Mehta, Managing Director and CEO of Emcure Pharmaceuticals, said, "We thank Dr. Sanjay Singh for his nearly two decades of exceptional scientific leadership at Gennova. 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."
Speaking on his appointment, Samit Mehta, Whole-Time Director and CEO of Gennova Biopharmaceuticals, said the company would continue to anchor the Emcure Group's biologics and biosimilars capabilities under the "One Emcure" framework while complementing the group's broader research and development pipeline with a focus on execution, quality and disciplined product development.
Emcure said the transaction is not expected to have a material impact on its consolidated financial performance or capital allocation strategy. The company added that its deleveraging plans, capital expenditure programme and research and development investments remain unchanged.
Headquartered in Pune, Emcure Pharmaceuticals is an R&D-driven pharmaceutical company engaged in developing, manufacturing and marketing a broad portfolio of pharmaceutical products across multiple therapeutic areas. The company has operations in more than 70 countries and is ranked as the 13th largest pharmaceutical company in India by domestic sales (MAT March 2026).
