Zydus Lifesciences Forms 50:50 JV in Sri Lanka

Zydus Lifesciences Limited has entered into a Share Subscription and Shareholders' Agreement with Sunshine Healthcare Lanka Limited to form a 50:50 joint venture, Zydus Sunshine Lifesciences (Private) Limited. The JV will focus on manufacturing pharmaceutical products in Sri Lanka, aiming to strengthen local production and reduce import dependence. Zydus will invest up to USD 5 million in tranches. The new entity, Zydus Sunshine, is recently incorporated and has no prior turnover. The transaction is expected to be completed within 90 working days and is not considered a related party transaction.