Zydus Lifesciences Forms JV with Perfect Day

Zydus Lifesciences Ltd has signed an agreement to acquire a 50% stake in Sterling Biotech Ltd from Perfect Day Inc., forming a joint venture that will establish a state-of-the-art manufacturing facility for fermented animal-free protein. This partnership aims to produce eco-friendly protein products and meet the rising consumer demand for ethically sourced nutrition. Zydus's entry into this market will also address the needs of consumers preferring animal-free protein or those with lactose intolerance. The deal, valued at Rs 550 crore, is expected to enhance Perfect Day's technological capabilities in India while leveraging Zydus's manufacturing expertise. The acquisition signifies a notable shift towards sustainable food production and positions India as a key player in the global supply chain for these products. Both companies emphasize their commitment to reducing environmental impact through this collaboration.