Zydus Lifesciences to Acquire Active Pharmaceutical Ingredients Business of Sterling Biotech

MT Newswires Live09-17

Zydus Lifesciences (NSE: ZYDUSLIFE, BOM:532321) has entered into a business transfer agreement to purchase the active pharmaceutical ingredients (API) business of Sterling Biotech for 840 million Indian rupees, according to a Tuesday filing to the stock exchanges.

In August, Zydus Animal Health and Investments, a subsidiary of the company, acquired a 50% stake in Sterling Biotech from Perfect Day.

Sterling Biotech is engaged in manufacturing fermentation-based API products such as Lovastatin, Daunorubicin, Doxorubicin

and Epirubicin at its manufacturing unit near Vadodara in Gujarat, India.

The transaction is expected to be completed by Dec. 31.

Price (INR): â¹1112.85, Change: â¹-3.0, Percent Change: -0.27%

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