The APA has also been inked with the subsidiaries of Manx, viz. Manx Pharma and Manx Generics.
Tillomed Laboratories is a leading European pharmaceutical company focused on developing, licensing, and marketing high-quality generic medicines. Headquartered in Luton, UK, Tillomed operates across multiple European markets, ensuring access to cost-effective healthcare solutions.
Under the APA, Tillomed will acquire Manx’s product portfolio inclusive of relevant dossiers, marketing authorisations, intellectual property and the relevant stocks for around £19.7 million (including £4.7 million for inventory).
Of the total consideration, £6.2 million will be upfront and rest as milestone payments over the next 18 months.
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.”
Pune-based Emcure Pharmaceuticals is a leading Indian pharma company engaged in developing, manufacturing and globally marketing a broad range of pharmaceutical products.
The company’s consolidated net profit surged 35.5% to Rs 153.72 crore in Q3 FY25 as against Rs 113.45 crore posted in Q3 FY24. Revenue from operations jumped 17.7% YoY to Rs 1,962.63 crore in the quarter ended 31 December 2024.
The scrip tumbled 4.90% to currently trade at Rs 982.60 on the BSE.