Bayer is acquiring the remaining 25 percent stake in Bayer Zydus Pharma Private Ltd, for ₹282 crore.
This brings to an end a 13-year-old joint venture Bayer had with Zydus Lifesciences Ltd (formerly Cadila Healthcare). Announcing the “successful completion of the JV”, Bayer said, it was now securing full ownership of the entity, in line with pre-agreed terms.
The 50:50 joint venture was established on January 28, 2011, for the sales and marketing of pharmaceutical products in India. In 2018, Bayer had picked up 25 percent more in the jv, and later in 2021, it extended the partnership for another three years, company officials said.
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The JV brought together Zydus’ expertise in marketing and distribution along with Bayer’s novel products, marking their presence in cardiovascular diseases, diabetes, women’s health, ophthalmology and oncology.
Shweta Rai, Managing Director - India and country division head - South Asia, Bayer pharmaceuticals division, said, that the company was committed to ensuring “its steadfast presence” in India, as it assumes full ownership.