Zydus Lifesciences acquires 6.5 per cent stake in Mylab Discovery Solutions

The acquisition represents collective vision to transform healthcare by combining therapeutic expertise in human formulations and diagnostic capabilities of the two companies

Zydus Lifesciences through its wholly owned subsidiary Zydus Animal Health &Investments Limited (ZAHIL), has acquired 6.5 per cent stake in Mylab Discovery Solutions from Rising Sun Holdings Pvt Ltd, an investment company owned by Adar Poonawalla. The acquisition represents collective vision to transform healthcare by combining therapeutic expertise in human formulations and diagnostic capabilities of the two companies.

Hasmukh Rawal, Managing Director, Mylab, said, “The research and development capabilities of Zydus in therapeutics, combined with the R&D expertise of Mylab in diagnostics, along with Zydus’ last-mile access, have the potential to bring decentralised healthcare solutions to the masses. By focusing on decentralized healthcare, the companies can empower individuals, healthcare providers, and communities with timely and accurate diagnostics, effective treatments, and localised healthcare services.”

Sujit Jain, Director of Strategy, Mylab Discovery Solutions said, “It is the first time in India, a pharmaceutical company, a diagnostic company, and a vaccine manufacturer join forces with each other. I am confident that this partnership will revolutionize the way diseases are diagnosed, treated, and prevented.”

The synergy through this collaboration will open up new possibilities for advancements in precision medicine, personalised treatments, and preventive care. It will foster innovation, promote cross-disciplinary collaboration, and pave the way for new discoveries and therapies.

The transaction is subject to the fulfilment of customary closing conditions.