Bayer Zydus Cadila form joint venture business in India

Bayer and Zydus Cadila form joint venture for business in India

3:42 PM, 25th May 2011
Bayer and Zydus Cadila form joint venture for business in India

BERLIN, GERMANY/MUMBAI, INDIA: Bayer HealthCare and Zydus Cadila signed an agreement to form a joint venture company Bayer Zydus Pharma in India. With this newly established marketing and sales enterprise, Bayer aims to enhance its presence in the fast growing pharmaceutical market in India. Each party will hold 50 per cent of the shares of Bayer Zydus Pharma, and be equally represented on its management board.

 

“With this step, we aim to significantly accelerate our capabilities to better serve the fast growing Indian market. We believe that the JV between Bayer HealthCare and Zydus Cadila will provide a win-win situation for both partners,” said Dr Jörg Reinhardt, CEO, Bayer HealthCare AG. “We expect to leverage on the strengths of the joint venture such as the optimized product portfolio and the distribution capabilities to enhance the launch of new products and the sales of existing brands.”

 

Both partners will bring into Bayer Zydus Pharma a complementary product portfolio and specialized sales forces in women’s healthcare, diagnostic imaging and general medicines as well as oncology. The new company, headquartered in Mumbai, India, will furthermore combine Zydus Cadila’s strong Indian marketing and sales expertise as well as distribution and industry network with Bayer HealthCare’s expertise in successfully commercializing novel products. Bayer Zydus Pharma will operate in key segments of the Indian pharma market with a focus on: women’s healthcare, diagnostic imaging, cardiovascular diseases, anti-diabetic treatments, and oncology.

(C) WOC News

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