Zydus Board approves business transfer agreement for acquisition of API biz of Sterling Biotech

At meeting held on 17 September 2024

The Board of Zydus Lifesciences at its meeting held on 17 September 2024 has approved a Business Transfer Agreement (BTA) to purchase the API business (the Target Business) of Sterling Biotech (SBL), on a going concern basis, on slump sale basis, without values being assigned to individual assets and liabilities, on cash-free and debt-free basis at a pre-defined lump-sum consideration of Rs. 84 crore.

The Target Business of SBL consists of a portfolio of fermentation-based API products like Lovastatin, Daunorubicin, Doxorubicin and Epirubicin.

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