Zydus Lifesciences is acquiring a 50% stake in Sterling Biotech (SBL) from Perfect Day Inc. for ₹550 crore. This move will create a 50:50 joint venture (JV) between Zydus and Perfect Day, with equal board representation.
The JV plans to build a state-of-the-art facility for producing eco-friendly, animal-free protein for global markets, targeting consumers who prefer sustainable nutrition options. Zydus sees this acquisition as a strategic step into the biotech industry, focusing on health and nutrition products. Perfect Day will also expand its technological capabilities in India.