Emcure Pharmaceuticals has announced that its subsidiary, Marcan Pharmaceuticals, has entered into share purchase agreements with certain shareholders of Mantra Pharma to acquire all outstanding Class E Special Shares of the Canadian company.

Following the completion of the transaction, Mantra Pharma will continue to operate as a 100 percent subsidiary of Marcan Pharmaceuticals, further consolidating Emcure's ownership of its Canadian business operations.

Mantra Pharma, incorporated under the laws of Quebec, Canada, is engaged in the marketing and distribution of prescription medicines and natural health products, serving the Canadian healthcare market.

According to the company, the acquisition remains subject to the completion of customary compliance requirements under applicable Canadian laws. However, the transaction does not require any specific government approvals.

The move is expected to strengthen Emcure's international pharmaceutical operations by streamlining the ownership structure of its Canadian subsidiary and reinforcing its presence in the country's prescription drug and consumer healthcare segments.