Bayer Pharmaceuticals Private and Zydus Lifesciences (formerly Cadila Healthcare) have announced the completion of their joint venture - Bayer Zydus Pharma Private Limited (BZPPL), the company informed in a press statement on Thursday. Established in 2011 as a 50:50 joint venture for pharmaceutical sales and marketing in India, Bayer has now acquired the remaining 25 per cent stake to secure full ownership of the entity, in accordance with pre-agreed joint venture terms.
The statement from the company further informed that the joint venture capitalised on the strengths of both companies to cater to India's rapidly expanding pharmaceutical market. Zydus brought to the table its robust Indian marketing and sales expertise, extensive distribution network, and strong industry connections, while Bayer contributed its global experience in launching novel products and driving innovation in India. Over the years, BZPPL has made significant advancements across various therapeutic areas, including cardiovascular diseases, diabetes, women's health, ophthalmology, and oncology.
Shweta Rai, Managing Director - India and Country Division Head - South Asia at Bayer's Pharmaceuticals division, expressed her thoughts on the conclusion of the joint venture. Rai acknowledged Zydus Lifesciences as a valuable partner in their shared mission of introducing innovative healthcare solutions and addressing unmet medical needs in India. With Bayer now assuming full ownership of BZPPL, Rai reiterated the company's commitment to maintaining a strong presence in India.
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