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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 shed 0.89% to Rs 1,084.95 on the BSE.
Tillomed Laboratories, a subsidiary of Emcure Pharmaceuticals, has entered into an Asset Purchase Agreement (APA) with UK based Manx Healthcare and its subsidiaries, Manx Pharma and Manx Generics (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.
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.
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.”
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.”
The scrip tumbled 4.90% to currently trade at Rs 982.60 on the BSE.
Emcutix Biopharmaceuticals, a wholly owned subsidiary of Emcure Pharmaceuticals, announced an exclusive in-licensing agreement with WiQo, an innovative Italian derma-cosmetic and medical device company specialised in scientifically validated products. The strategic partnership grants Emcutix the rights to import, promote, distribute and sell WiQo's ground breaking product PRX-PLUS in India. The collaboration is set to redefine the landscape of non-invasive skin treatments in the region.
PRX-PLUS has a unique product feature with its deep-impacting formula that instantly tightens the skin, offering a non-invasive, pain-free alternative to traditional aesthetic treatments for those seeking effective results with convenience.
Sathya Narayanan, CEO – Emcutix Biopharmaceuticals commented, 'At Emcutix Biopharmaceuticals, our vision is to bring innovative and high-quality dermatology solutions to the Indian market. Our collaboration with WiQo marks a significant step toward fulfilling this commitment, introducing PRX-PLUS, a unique and advanced skincare solution. With the strong marketing expertise of Emcutix, we are confident that PRX-PLUS will set new benchmarks in dermatological care, making cutting-edge skincare more accessible to consumers across India.'