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Zydus Lifesciences to Form 50:50 JV With Sunshine Healthcare in Sri Lanka

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Zydus Lifesciences (NSE:ZYDUSLIFE, BOM:532321) has entered into a share subscription and shareholders' agreement with Sunshine Healthcare Lanka and Zydus Sunshine Lifesciences to acquire a 50% stake in the latter.

Post investment, Zydus Sunshine will operate as a 50:50 joint venture between Zydus and Sunshine Healthcare and will set up a pharmaceutical manufacturing facility in Sri Lanka's Horana Export Processing Zone, according to a stock exchange filing on Friday.

The investment of up to $5 million will be completed within 90 working days of execution of the agreement.

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