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

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.