Emcure Pharmaceuticals Limited announced that its subsidiary, Marcan Pharmaceuticals Inc., has entered into share purchase agreements to acquire all Class E Special Shares of Mantra Pharma Inc.
The agreements were signed on 2 July 2026 (EDT), and upon completion of the transaction, Mantra Pharma will continue as a 100% subsidiary of Marcan Pharmaceuticals.
The acquisition will be completed for an aggregate cash consideration of CAD 50 million, with 100% of the Class E Special Shares being acquired.
The transaction is expected to be completed on 3 July 2026. According to the company, the purchase is in line with the Preferred Share Purchase Agreements executed during the earlier acquisition of Mantra Pharma.
Mantra Pharma Inc. is incorporated under the laws of Quebec, Canada, and is engaged in the marketing and distribution of prescription drugs and natural health products. The company primarily operates in the Canadian market and reported an annual turnover of CAD 96.67 million.
The company was incorporated on 6 November 2023 under the Business Corporations Act (Quebec) through the amalgamation of 9501-2969 Québec Inc., Mantra Pharma Inc. (erstwhile Mantra), Myriad Pharma Inc., Mantra Distribution Inc., Holding JFL Inc., Gestion Nirdac Inc., Gestion Stéphane Turcotte Inc., Gestion Beflan Inc. and Gestion Éléoraph Inc.
Mantra Pharma Inc.'s issued and paid-up share capital consists of 1,000 Class A Common Shares and 24,000,000 Class E Special Shares, all issued without par value.
The company has recorded consistent growth in its historical turnover, reporting CAD 96.67 million in FY26, up from CAD 81.01 million in FY25. For FY24, which covered the period from 6 November 2023 to 31 March 2024, the company reported a turnover of CAD 28.26 million.
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As of 03 July 2026, at 10:56 AM, Emcure Pharmaceuticals Limited share price was trading at ₹1,851.70 per share, reflecting a decline of 0.26% from the previous trading session.
Following the completion of the CAD 50 million transaction, Marcan Pharmaceuticals Inc. will own 100% of the Class E Special Shares of Mantra Pharma Inc., while the Canadian pharmaceutical business will continue to operate as a wholly owned subsidiary of Marcan.
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Published on: Jul 3, 2026, 1:19 PM IST
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