Zydus Lifesciences Ltd, through its fully-owned subsidiary, entered into an agreement to acquire a 50% stake in Sterling Biotech Ltd (SBL) from Perfect Day Inc., a company backed by Temasek. Following the transaction, Sterling Biotech will operate as a 50:50 joint venture, with equal board representation from both parties, as announced by Zydus Lifesciences.
The joint venture plans to set up a cutting-edge manufacturing facility focused on producing animal-free fermented protein for global markets.
The initiative aims to boost the production of high-quality, eco-friendly protein products, minimize environmental impact, and meet the increasing consumer demand for fermentation-based and ethically sourced nutrition. As reported by thehindubusinessline.com, the deal between Perfect Day and Zydus highlights the growing importance of sustainable and environmentally conscious products in global markets.
