Zydus Lifesciences acquires a 50% stake in Sterling Biotech from Temasek's Perfect Day Inc, forming a 50:50 joint venture for animal-free protein production.

Indian pharma firm Zydus Lifesciences acquires a 50% stake in Sterling Biotech from Perfect Day Inc, a Temasek portfolio company. The acquisition creates a 50:50 joint venture with equal board representation. The joint venture will establish a manufacturing facility to produce fermented animal-free protein, targeting health and nutrition consumers who prefer animal-free protein or have lactose intolerance. Perfect Day's precision-fermented protein is used in various products, including ice creams, cream cheese, sports nutrition, and baked goods, with high functionality benefits and lower environmental impact.

August 24, 2024
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