Shares of Zydus Lifesciences fell by 4.03% to ₹1,130.50 as of 10:30 AM on Monday, following news of the company’s strategic move in the biopharmaceutical sector.
Zydus Lifesciences, through its wholly owned subsidiary, has entered into a strategic partnership with Perfect Day Inc., a Temasek portfolio company. As part of this deal, Perfect Day will sell its 50% stake in Sterling Biotech (SBL) to Zydus.
This acquisition will result in Sterling Biotech becoming a 50:50 joint venture between Zydus and Perfect Day, with both companies having equal representation on the board. Sterling Biotech, known for manufacturing fermentation-based products such as gelatine and APIs, will shift its focus to producing animal-free protein products.
Nomura kept its neutral outlook on the stock with a target price of ₹1,020, while Motilal Oswal also maintained a neutral position, setting a target price of ₹1,210.
The newly-formed joint venture aims to build a facility dedicated to the production of fermented, animal-free protein products, addressing the rising consumer demand for sustainable and ethically sourced nutrition.
