Ahmedabad: Zydus Lifesciences Limited, an Indian pharmaceutical giant, has signed an agreement through its wholly owned subsidiary to acquire a 50% stake in Sterling Biotech Limited from Perfect Day Inc.

This acquisition marks Zydus’ entry into the fermentation-based protein industry. Following the transaction, Sterling Biotech will become a 50:50 joint venture, with equal board representation from both companies. Perfect Day Inc is a portfolio company of Temasek.

The joint venture plans to establish a new facility to produce fermented, animal-free proteins for global markets, aligning with the growing consumer demand for sustainable and ethically sourced nutrition.