Zydus Lifesciences Buys 50% Stake in Sterling Biotech

Zydus Lifesciences has inked an agreement with Perfect Day, a Temasek portfolio company to acquire a 50 per cent stake in Sterling Biotech. As part of the pact, Perfect Day will vend its 50 per cent shareholding in Sterling Biotech still, the quantum has not been bared. 

With this, Sterling Biotech is set to come a 50 50 common adventure with equal representation on the board. As per the statement by Zydus, the JV is set to accelerate the product of high- quality and eco-friendly protein products, reduce environmental impact, and feed to the growing consumer demand for turmoil- grounded and immorally sourced nutrition.

Zydus Lifesciences and Perfect Day Inc, a Temasek portfolio company, have inked an agreement to buy the latter’s 50 stake in Sterling Biotech in a Rs 550 crore deal. Post the sale, Sterling Biotech will come a 50:50 common adventure, a company statement said. Sterling Biotech is one of the leading directors of pharmaceutical Gelatine, Di- Calcium Phosphate and some APIs.

Sharvil Patel, Managing Director, Zydus Lifesciences stated, “ We’re agitated to join forces with Perfect Day and produce a palm- palm combination that leverages both our strengths and moxie to produce value for the consumers. ”