Tillomed Labs To Acquire Manx Product Portfolio

New Delhi: Emcure Pharmaceuticals Ltd on Friday said its arm Tillomed Laboratories Ltd will acquire product portfolio of UK-based Manx Healthcare Ltd for around 19.7 million pounds (nearly Rs220 crore). Tillomed Laboratories has entered into an Asset Purchase Agreement (APA) with Manx Healthcare Ltd and its subsidiaries Manx Pharma Ltd and Manx Generics Ltd (collectively Manx) for the acquisition, Emcure Pharmaceuticals said in a statement. Under the pact, Tillomed will acquire Manx's product portfolio inclusive of relevant dossiers, marketing authorisations, intellectual property and the relevant stocks for around 19.7 million pounds (including 4.7 million pounds for inventory) of which 6.2 million pounds will be upfront and rest as milestone payments over the next 18 months, it added.