Zydus Lifesciences Ltd announced today that its wholly-owned subsidiary, Zydus Animal Health and Investments Ltd, has completed the acquisition of a 50 per cent equity stake in Sterling Biotech Ltd (SBL) from Perfect Day Inc.
The shares of Zydus Lifesciences Limited were trading at ₹1,153.55 up by ₹21.50 or 1.90 per cent as of 11.15 am today on the NSE.
This acquisition, first revealed on August 23, marks Zydus’ entry into the fermentation-based protein business. The joint venture aims to establish a modern facility for manufacturing fermented animal-free protein for global markets.
Post-acquisition, SBL will become a 50:50 joint venture with equal board representation. The deal also involves strategic considerations for SBL’s existing API and gelatin business.
This partnership aligns with Zydus’ strategy to explore new collaborations and position India as a global supply chain hub for sustainable and environmentally friendly products. The move is expected to leverage the strengths and expertise of both companies in the growing market for alternative proteins.