<p>New Delhi: Zydus Lifesciences on Saturday said it has inked a pact with Perfect Day Inc to acquire 50 per cent stake in Sterling Biotech.</p>.<p>As part of the deal, Perfect Day Inc, a Temasek portfolio company, will sell its 50 per cent shareholding in Sterling Biotech for an undisclosed amount.</p>.<p>Post the transaction, Sterling Biotech will become a 50:50 joint venture with equal representation on the Board, Zydus Lifesciences said in a statement.</p>.<p>Financial details of the deal were not shared.</p>.<p>The JV will establish a manufacturing facility to manufacture fermented animal-free protein to cater to the global markets, it added.</p>.Amazon India announces up to 12% reduction in selling fees ahead of festive season.<p>The acquisition also marks Zydus' foray into specialised biotech products for health and nutrition, specifically catering to consumers who prefer animal-free protein or suffer from lactose intolerance, the Gujarat-based firm said.</p>.<p>Perfect Day's precision-fermented protein is found in ice creams, cream cheese, sports nutrition products, and baked goods with high functionality benefits and lower environmental impact.</p>.<p>Sterling Biotech is currently engaged in manufacturing and sale of fermentation-based API products and gelatine.</p>.<p>"We are dedicated to promoting growth through partnerships and are consistently exploring new collaborations to position India as a premier global supply chain hub," Zydus Lifesciences MD Sharvil Patel said.</p>.<p>The collaboration with Perfect Day creates a win-win combination that leverages both strengths and expertise to create value for the consumers, he added.</p>.<p>Perfect Day Interim CEO Narayan TM said, this partnership allows the company to significantly boost its capabilities to meet the demands of the fast-growing global market. </p>
<p>New Delhi: Zydus Lifesciences on Saturday said it has inked a pact with Perfect Day Inc to acquire 50 per cent stake in Sterling Biotech.</p>.<p>As part of the deal, Perfect Day Inc, a Temasek portfolio company, will sell its 50 per cent shareholding in Sterling Biotech for an undisclosed amount.</p>.<p>Post the transaction, Sterling Biotech will become a 50:50 joint venture with equal representation on the Board, Zydus Lifesciences said in a statement.</p>.<p>Financial details of the deal were not shared.</p>.<p>The JV will establish a manufacturing facility to manufacture fermented animal-free protein to cater to the global markets, it added.</p>.Amazon India announces up to 12% reduction in selling fees ahead of festive season.<p>The acquisition also marks Zydus' foray into specialised biotech products for health and nutrition, specifically catering to consumers who prefer animal-free protein or suffer from lactose intolerance, the Gujarat-based firm said.</p>.<p>Perfect Day's precision-fermented protein is found in ice creams, cream cheese, sports nutrition products, and baked goods with high functionality benefits and lower environmental impact.</p>.<p>Sterling Biotech is currently engaged in manufacturing and sale of fermentation-based API products and gelatine.</p>.<p>"We are dedicated to promoting growth through partnerships and are consistently exploring new collaborations to position India as a premier global supply chain hub," Zydus Lifesciences MD Sharvil Patel said.</p>.<p>The collaboration with Perfect Day creates a win-win combination that leverages both strengths and expertise to create value for the consumers, he added.</p>.<p>Perfect Day Interim CEO Narayan TM said, this partnership allows the company to significantly boost its capabilities to meet the demands of the fast-growing global market. </p>