Zydus Lifesciences Limited, through its wholly owned subsidiary, has acquired a 50% equity stake in Sterling Biotech from Perfect Day Inc., marking a strategic move into the fermentation-based protein business. The deal, valued at INR 550 crores (with potential adjustments for cash and debt), transforms Sterling Biotech into a 50:50 joint venture, with equal representation on its board.
This acquisition positions Zydus to expand its biotechnology capabilities and diversify into the innovative sector of fermentation-driven protein production. The transaction was guided by Khaitan & Co, who provided legal expertise throughout the process, along with Zydus’ in-house legal team.
The legal advisory team covered various aspects of the deal, from corporate, banking, and real estate to intellectual property and employment law. This collaboration further solidifies Zydus’ commitment to exploring new avenues in the life sciences domain while strengthening its position in cutting-edge biotech sectors.
