Zydus Lifesciences to buy 50 percent stake in Sterling Biotech from Perfect Day
Ahmedabad: Zydus Lifesciences Limited through its wholly owned subsidiary, and Perfect Day Inc., a
Temasek portfolio company have signed an agreement wherein Perfect Day will sell
its ~50% shareholding in Sterling Biotech Limited.
Post this transaction, Sterling Biotech will
become a 50:50 Joint Venture (“JV”) with equal representation on the Board.
The JV will establish a state-of-the-art manufacturing facility to manufacture fermented animal free
protein to cater to the global markets. The JV will accelerate the production of high-quality and ecofriendly protein products, reduce environmental impact, and cater to the growing consumer demand for
fermentation-based and ethically sourced nutrition.
As per the release, the acquisition will mark Zydus’ foray into specialised biotech products for health and nutrition,
specifically catering to consumers who prefer animal-free protein or suffer from lactose intolerance.
Perfect Day’s precision-fermented protein is found in ice creams, cream cheese, sports nutrition
products, and baked goods with high functionality benefits and lower environmental impact.
“This transaction between Perfect Day and Zydus underlines the importance of the emerging global
markets for environmentally friendly and sustainable products. Perfect Day will significantly enhance
its technological capabilities in India as part of its emerging market growth strategy, while Zydus will
continue to leverage its strong manufacturing and commercial expertise. Through this manufacturing
partnership both the parties reaffirm their commitment of making India a bright spot in global supply
chain,” the release stated.
SBL is currently engaged in manufacturing and selling of fermentation-based API products and gelatine.
With a clear vision of focussing on animal-free protein products the JV partners will also take a strategic
view on API and gelatine business.
“We are dedicated to promoting growth through partnerships and are consistently exploring new
collaborations to position India as a premier global supply chain hub. We are excited to join forces with
Perfect Day and create a win-win combination that leverages both our strengths and expertise to create
value for the consumers.”
boost its capabilities to meet the demands of the fast-growing global market. We deeply value our
collaboration with Zydus and believe this joint venture will allow both parties to benefit from each
other’s expertise.”
transaction.
Read also: Zydus Lifscience Gets CDSCO Panel Nod to Study Measles and Rubella Vaccine
