Bayer Pharmaceuticals and Zydus Lifesciences announced the successful conclusion of their joint venture (JV) – Bayer Zydus Pharma. The 50:50 joint venture was established on January 28, 2011, for the sales and marketing of pharmaceutical products in India. Bayer is now securing full ownership of the entity, as per pre-agreed JV terms.
A press statement from Bayer informed, “The JV successfully leveraged the strengths of both companies to better serve the fast-growing Indian market. It combined Zydus’s Indian marketing and sales expertise, wide distribution reach and, rich industry network, with Bayer’s global expertise in commercialising novel products and bringing innovation to India. Bayer Zydus Pharma made developments in various therapies including cardiovascular diseases, diabetes, women’s health, ophthalmology and, oncology.”
Commenting on the conclusion of the JV, Shweta Rai, MD – India and Country Division Head – South Asia, Bayer’s Pharmaceuticals division, said, “As we assume full ownership of Bayer Zydus Pharma, 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’.