Zydus Lifesciences Limited has announced an extension in the timeline for its proposed acquisition of the API (Active Pharmaceutical Ingredients) business of Sterling Biotech Limited (SBL).
The company had earlier signed a Business Transfer Agreement (BTA) on September 17, 2024, with an initial completion target of December 31, 2024. This deadline was later extended to September 30, 2025.
Now, Zydus has informed that as SBL is still in the process of completing certain conditions precedent under the BTA, both parties have agreed to extend the closing date once again to December 31, 2025.
Accordingly, the transaction is now expected to be completed on or before the new deadline
