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Emcure Pharmaceuticals Unit to Acquire Remaining Shares in Canada's Mantra Pharma for C$50 Million

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Emcure Pharmaceuticals (NSE:EMCURE, BOM:544210) said its subsidiary Marcan Pharmaceuticals has agreed to acquire all outstanding Class E special shares of its step-down subsidiary, Mantra Pharma, for 50 million Canadian dollars.

The transaction, subject to customary closing formalities under Canadian law, will leave Mantra as a wholly owned subsidiary of Marcan, according to a stock exchange filing on Friday.

Quebec-based Mantra markets and distributes prescription drugs and natural health products.

Shares of the company fell over 1% in recent trade.

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