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Bayer Pharma Concludes JV with Zydus Lifesciences by Acquiring Remaining 25% Stake

Written by : Nikita Saha

May 3, 2024

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Bayer bought a 25% stake in the JV in April 2018, increasing its ownership interest to 75%. With 25% more, it has now taken full ownership as per pre-agreed JV terms.

The Germany-based Bayer Pharma has successfully acquired a 25% stake, it didn't already own, in its joint venture with Ahmedabad-based Zydus Lifesciences for INR 282.2 Cr ($33.8 million)

With this, the 50:50 JV Bayer Zydus Pharma Ltd, created in 2011 for the sales and marketing of pharmaceutical products in India has finally reached completion.

Bayer has acquired full ownership of the entity, as per pre-agreed JV terms.

Commenting on the completion of the joint venture, Shweta Rai, MD, India & country division head, South Asia, Pharmaceuticals Division, Bayer, said, "As we assume full ownership of Bayer Zydus Pharma Private Limited (BZPPL), Bayer remains committed to ensuring its steadfast presence in India. Building on the gains made over more than a decade, we aim to carry forward our mission of 'Health for All, Hunger for None'.

More on Bayer & Zydus’s JV

Bayer bought a 25% stake in the JV in April 2018, increasing its ownership interest to 75%. With 25% more, now, it has taken full ownership as per pre-agreed JV terms.

Headquartered in Mumbai, the joint venture operated across segments including women's healthcare, metabolic disorders, diagnostic imaging, cardiovascular diseases, anti-diabetic treatments, and oncology

Over the years, the JV leveraged the strengths of both companies. The JV combined Zydus's hold in marketing, sales expertise, wide distribution reach, and rich industry network in India, with Bayer's global expertise in commercializing novel products and bringing innovation to India.

India's pharmaceutical market has been growing rapidly in recent years, driven by factors such as increasing healthcare awareness, rising disposable incomes, and a growing middle class. The country's pharmaceutical industry is expected to reach $65 billion by 2024 and $120-130 billion by 2030.

Established in 1863 by Friedrich Bayer and Johann Friedrich Weskott, Bayer is a global company specializing in healthcare and nutrition. It aims to address challenges posed by a growing and aging population.

In January, Sun Pharma inked a pact with Bayer to market and distribute Finerenone, a drug for the treatment of chronic kidney disease in India.

Under the terms of the agreement, Bayer has granted non-exclusive rights to Sun Pharma to market and distribute a second Finerenone product under the brand name Lyvelsa. Additionally, Finerenone was first launched by Bayer under the brand name Kerendia in 2022.

In a similar development, Sun Pharma also inked a licensing agreement with Zydus Lifesciences Limited to co-market Desidustat, a novel drug, in India.

As per the agreement, Zydus granted Sun Pharma semi-exclusive rights to co-market the product in India under the brand name RYTSTAT. While, Zydus has already been marketing this drug since 2022, under the brand name Oxemia and will further continue to market it.

Formerly known as Cadila Healthcare, Zydus Lifesciences is an Indian multinational pharmaceutical company founded in 1952 by Ramanbhai Patel. The company is engaged in producing formulations for active pharmaceutical ingredients, animal healthcare products, and wellness products.

Globally, the group is well-represented in the highly visible markets of Latin America and South Africa as well as the regulated markets of the US and Europe (France and Spain). It is also well-established in 25 other developing markets throughout the world.


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