Home-grown pharma major Zydus Lifesciences Limited, through its wholly owned subsidiary, has signed a deal with Perfect Day Inc to acquire 50% stake in Sterling Biotech Limited. The acquisition marks Zydus’ entry into the fermentation-based protein sector.
Post-transaction, Sterling Biotech will operate as a 50:50 joint venture, with both companies sharing equal board representation. Perfect Day Inc is a portfolio company of Temasek. The JV plans to establish a new facility to manufacture fermented, animal-free protein for global markets. This initiative aligns with the rising consumer demand for eco-friendly, ethically sourced nutrition.