Remus Pharmaceuticals Limited (NSEI:REMUS) entered into a Memorandum of Understanding to acquire a 51% stake in Espee Biopharma & Finechem LLC on September 15, 2023. As of September 15, 2023, Espee Biopharma & Finechem LLC reported a revenue of approximately $50.6 million for the year ended December 31, 2022. Transaction is subject to the satisfactory completion of due diligence, execution of definitive agreement and compliance with statutory requirements, as applicable.

The Board of Directors of the Company has approved the same at their meeting. Transaction is expected to close in the next six months. On February 7, 2024, Remus Pharmaceuticals Limited (NSEI:REMUS) entered into a definitive agreement to acquire 51% stake in Espee Biopharma & Finechem LLC for $2.7 million.

Transaction is expected to close within 45 days.