Emcure Pharma European arm Tillomed buys strategic pharma portfolio from Manx for 19.7 million pounds
Pune: Tillomed Laboratories Limited, a subsidiary of Emcure Pharmaceuticals Ltd. and a European pharma company, has entered into an Asset Purchase Agreement (APA) with UK based Manx Healthcare Limited and its subsidiaries Manx Pharma Ltd and Manx Generics Limited (collectively Manx).
Under the APA, Tillomed will acquire Manx’s product portfolio inclusive of relevant Dossiers, Marketing Authorisations, Intellectual Property (collectively Intellectual Properties) and the relevant stocks for around £ 19.7 mn (including £ 4.7mn for inventory) of which £ 6.2 mn will be upfront and rest as milestone payments over the next 18 months.
According to a release, the deal marks a strategic milestone for Tillomed and will strengthen the company’s product offerings, expand its market reach, and enhance its ability to meet the evolving needs of patients.
Emcure Pharmaceuticals Ltd. subsidiary Gennova Biopharmaceuticals Ltd., is advancing the development of a pathbreaking self-amplifying mRNA (saRNA) vaccine against the deadly Nipah virus.
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Commenting on the development, Ajit Srimal, CEO Tillomed said, “Through the acquisition of Manx’s established and high-quality products portfolio, we reinforce our commitment to delivering accessible healthcare solutions. The acquired assets will help diversify our portfolio and strengthen our market presence.”
Headquartered in Luton, UK, Tillomed Laboratories specializes in developing, licensing, and marketing high-quality generic medicines. The Company operates across multiple European markets.
Its parent company, Emcure Pharmaceuticals Ltd., established in 1981, is an Indian pharma company headquartered in Pune, India. It is engaged in developing, manufacturing and globally marketing a broad range of pharmaceutical products. Emcure is an R&D driven company that develops and manufactures a wide range of differentiated pharmaceutical products. Emcure is present in 70+ countries globally including Europe and Canada.
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