India, April 4 -- image credit- shutterstock

Tillomed Laboratories, a subsidiary of Pune-based Emcure Pharmaceuticals, and a leading European pharma company, has entered into an Asset Purchase Agreement (APA) with UK based Manx Healthcare and its subsidiaries Manx Pharma and Manx Generics.

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 million (including £ 4.7 million for inventory) of which £ 6.2 million 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...