Pharmaceutical firm Zydus Cadila on Friday said it would form a joint venture with Germany's Bayer Healthcare to sell drugs in India.
The 50:50 joint venture — Bayer Zydus Pharma — will operate in key segments, including women's healthcare, metabolic disorders, diagnostic imaging, cardiovascular disease, anti-diabetic treatments and oncology, the company said in a statement.
Commenting on the development, Zydus Cadila Managing Director Pankaj Patel said: “We have always believed in partnering growth, have keenly explored new opportunities and look at synergies in the market place.”
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The two partners will leverage on each other's strengths, look at future possibilities and create a common platform to pool in expertise, he added.
“With this step, Bayer Healthcare aims to significantly accelerate its capabilities to better serve the fast growing Indian market,” Bayer Healthcare Chairman of the Board Jorg Reinhardt said.
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The joint venture will start operations with the Bayer Healthcare's pharmaceutical division, contributing to its existing sales and marketing business in India to the new company, while Zydus will pool in its women's healthcare products, diagnostic imaging business and other products.
Besides Bayer Healthcare's existing products in India, the new company intends to focus on sales and marketing of future patented pipeline products, it added.
Bayer Healthcare and Zydus will supply the joint venture with products from their respective manufacturing operations at existing locations.
Ahmedabad-based Zydus Cadila is one of India's leading pharmaceutical firms with eight facilities supporting product launches not just in India but also in the regulated markets of the U.S., Europe and Latin America. — PTI