Zydus Lifesciences acquires 50% stake in Sterling Biotech from Perfect Day to establish joint venture for fermented animal-free protein manufacturing
Acquiring Company
Zydus Wellness
Acquired Company
Sterling Biotech
AhmedabadMumbaiManufacturingHealth CareFood And BeverageDietary SupplementsNutritionManufacturingBiotechnologyDescription
Zydus Lifesciences has signed a contract with Perfect Day Inc to acquire 50% stake in Sterling Biotech, forming a 50:50 joint venture. The joint venture aims to establish a manufacturing facility for fermented animal-free protein catering to global markets, marking Zydus' foray into specialized biotech products for health and nutrition.
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Frequently asked
Who acquired Sterling Biotech?
Sterling Biotech was acquired by Zydus Wellness, based in Ahmedabad. The deal was reported on August 24, 2024. Zydus Wellness Ltd is a leading player in the wellness sector, offering a range of health-oriented products. The company focuses on providing innovative solutions to cater to consumer needs. Zydus Wellness is privately held and operates in Manufacturing.
When did Zydus Wellness acquire Sterling Biotech?
Zydus Wellness's acquisition of Sterling Biotech was reported on August 24, 2024. Zydus Lifesciences has signed a contract with Perfect Day Inc to acquire 50% stake in Sterling Biotech, forming a 50:50 joint venture. Fundz records the date the transaction was first publicly reported, sourced from filings and company announcements.
What does Sterling Biotech do?
Sterling Biotech is engaged in the manufacturing and sale of fermentation-based API products and gelatine. Post the acquisition by Zydus Lifesciences, it will become a 50:50 joint venture with equal representation on the Board. It is privately held, operating in Manufacturing, and is based in Mumbai.
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