Ahmedabad: Home-grown pharma major Zydus Lifesciences Limited, through its wholly owned subsidiary, has signed a deal with Perfect Day Inc to acquire 50% stake in Sterling Biotech Limited. The acquisition marks Zydus’ entry into the fermentation-based protein sector.
Post-transaction, Sterling Biotech will operate as a 50:50 joint venture, with both companies sharing equal board representation.Perfect Day Inc is a portfolio company of Temasek. The JV plans to establish a new facility to manufacture fermented, animal-free protein for global markets. This initiative aligns with the rising consumer demand for eco-friendly, ethically sourced nutrition.
Zydus enters fermentation-based protein market with Sterling Biotech JV
Zydus Lifesciences Limited acquired a 50% stake in Sterling Biotech Limited by partnering with Perfect Day Inc, a Temasek portfolio company. This acquisition facilitated Zydus’ entry into the fermentation-based protein sector, allowing them to address the growing demand for eco-friendly and animal-free protein products. Sterling Biotech will manufacture fermented, animal-free protein for global markets as a joint venture.
Zydus Lifesciences Limited acquired a 50% stake in Sterling Biotech Limited by partnering with Perfect Day Inc, a Temasek portfolio company. This acquisition facilitated Zydus’ entry into the fermentation-based protein sector, allowing them to address the growing demand for eco-friendly and animal-free protein products. Sterling Biotech will manufacture fermented, animal-free protein for global markets as a joint venture.
