Zydus Lifesciences, through its wholly-owned subsidiary, has announced a strategic partnership with Perfect Day Inc., a Temasek portfolio company. As part of the deal, Perfect Day will divest its 50% stake in Sterling Biotech (SBL), resulting in a 50:50 joint venture between Zydus and Perfect Day.
The new JV will shift SBL’s focus from its current fermentation-based products to animal-free protein production. The partnership aims to establish a manufacturing facility dedicated to producing sustainable, fermented, animal-free protein products for global markets, addressing the rising consumer demand for ethical and lactose-free nutrition.
Zydus will contribute its manufacturing and commercial expertise, while Perfect Day will enhance its technological capabilities in India. Perfect Day’s precision-fermented proteins, already featured in various products such as ice creams and sports nutrition items, will play a key role in the JV’s offerings.
Sharvil Patel, Managing Director of Zydus Lifesciences, expressed enthusiasm about the collaboration, highlighting the potential to leverage combined strengths. Narayan TM, Interim CEO of Perfect Day, emphasized that the partnership would enhance their global market capabilities and mutual benefits.
