Zydus Lifesciences Partners with Perfect Day Inc for Sterling Biotech Stake

Zydus Lifesciences has agreed to acquire a 50% stake in Sterling Biotech from Perfect Day Inc, a Temasek portfolio company. The joint venture will manufacture animal-free protein for global markets. This marks Zydus' entry into specialized biotech products for health and nutrition, particularly targeting consumers preferring animal-free protein or lactose intolerance solutions.

Zydus Lifesciences announced on Saturday that it has acquired a 50% stake in Sterling Biotech through a deal with Perfect Day Inc, a company under the Temasek portfolio.

Financial details remain undisclosed, but the acquisition will result in a 50:50 joint venture, providing equal Board representation to both companies, Zydus Lifesciences detailed in a statement.

The newly formed JV aims to set up a manufacturing facility dedicated to producing fermented, animal-free protein for the global market. This venture marks Zydus' debut in specialized biotech products targeting health and nutrition, especially for consumers who prefer animal-free protein or are lactose intolerant.

(With inputs from agencies.)