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Cadila Healthcare gains on extending tenure of JV with Bayer

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Cadila Healthcare jumped 4.94% to Rs 597.40 after the company announced extension of its joint venture agreement with Bayer (South East Asia) for a further period of two months.

Bayer Zydus Pharma is a joint venture (JV) company of Cadila Healthcare and Bayer (South East Asia).

Cadila held 24.9999% stake in JV firm while the remaining 75.0001% stake was owned by Bayer.

On 28 January 2011, JV partners had entered into an agreement for marketing pharma products. The joint venture term has now been extended for further period of two months for exploring possibilities of further collaboration.

Cadila Healthcare is a global pharmaceutical company that discovers, develops, manufactures and markets a broad range of healthcare therapies.

Cadila Healthcare reported 40.6% rise in consolidated net profit to Rs 512.50 crore on a 6.2% rise in net sales to Rs 3,753.70 crore in Q3 FY21 over Q3 FY20.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Wed, May 05 2021. 13:04 IST