Pharmaceutical Giant Zydus & Perfect Day Partner to Make India an Animal-Free Protein Hub
Pharmaceutical giant Zydus Lifesciences has announced an agreement to acquire a 50% stake in Sterling Biotech, a manufacturing company based in Mumbai, purchased by the Californian biotech Perfect Day from bankruptcy for $78 million in 2022. Both Zydus and Perfect Day will have equal representation on Sterling Biotech’s Board post-transaction. It is worth highlighting that India is the world’s largest milk producer, contributing 25% of global milk production. According to Zydus Lifesciences, the joint venture aims to make India a “bright spot” in the global supply chain of sustainable proteins to reduce the environmental impact of food production and meet the growing demand for ethically sourced nutrition. The 50:50 joint venture will combine Zydus’ manufacturing strength with Perfect Day’s advanced technology in precision fermentation to establish a …