Ahmedabad: Zydus to acquire 50% stake in Sterling Biotech

Home-grown pharma major Zydus Lifesciences Limited, through its wholly owned subsidiary, has signed a deal with Perfect Day Inc to acquire 50% stake in Sterling Biotech

By Connect Gujarat Desk 25 Aug 2024 in Gujarat

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Ahmedabad: Zydus to acquire 50% stake in Sterling Biotech

Home-grown pharma major Zydus Lifesciences Limited, through its wholly owned subsidiary, has signed a deal with Perfect Day Inc to acquire 50% stake in Sterling Biotech Limited.

The acquisition marks Zydus’ entry into the fermentation-based protein sector.

Post-transaction, Sterling Biotech will operate as a 50:50 joint venture, with both companies sharing equal board representation. Perfect Day Inc is a portfolio company of Temasek.

The JV plans to establish a new facility to manufacture fermented, animal-free protein for global markets.

This initiative aligns with the rising consumer demand for eco-friendly, ethically sourced nutrition.