Bayer acquires remaining 25 percent stake in Bayer Zydus Pharma for Rs 282 crores.
Bayer secured the remaining stake in the joint venture with Zydus LifesCiences for Rs.
Bayer Pharmaceuticals and Zydus Lifesciences announced on Thursday the successful completion of their joint venture, Bayer Zydus Pharma Private Limited (BZPPL). The acquisition of the remaining 25% stake in Bayer Zydus Pharma Private Ltd amounts to Rs. 282 crore.
Established on January 28, 2011, the 50:50 joint venture was formed for the sales and marketing of pharmaceutical products in India. Bayer is now securing full ownership of the entity, adhering to pre-agreed JV terms. Leveraging the strengths of both companies, the joint venture effectively served the rapidly growing Indian market. It amalgamated Zydus' robust Indian marketing and sales expertise, extensive distribution network, and strong industry connections with Bayer's global proficiency in commercializing novel products and introducing innovation to India.
BZPPL made significant advancements in various therapeutic areas, including cardiovascular diseases, diabetes, women's health, ophthalmology, and oncology.
"Zydus Lifesciences has been an invaluable partner in our shared mission to introduce top-notch innovative healthcare solutions and address the unmet medical needs of patients in India. As we assume full ownership of BZPPL, Bayer remains steadfast in its commitment to maintaining a strong presence in India. Building on the progress made over more than a decade, we aim to continue our mission of 'Health for All, Hunger for None,'" stated Shweta Rai, Managing Director – India and Country Division Head – South Asia, Bayer’s Pharmaceuticals division.
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