On September 13, 2024, Emcure Pharmaceuticals Limited announced the incorporation of a wholly-owned subsidiary, “Emcutix Biopharmaceuticals Limited,” in Pune, Maharashtra. The Board of Directors approved the move during a committee meeting, as per the company’s regulatory disclosure to both BSE and NSE under SEBI’s Listing Obligations and Disclosure Requirements (LODR) Regulations, 2015.
Emcutix Biopharmaceuticals Limited will focus on the manufacturing, promotion, sale, and distribution of pharmaceutical products. The proposed authorized share capital is ₹10 crore, with an initial paid-up share capital of ₹1 lakh. The entity is set to operate as a wholly-owned subsidiary of Emcure, with the transaction being a related party transaction but conducted at arm’s length.
This strategic expansion aligns with Emcure’s commitment to strengthening its position in the pharmaceutical industry.
