Bayer is acquiring full ownership of a joint venture with Zydus Lifesciences Ltd (formerly Cadila Healthcare).

Bayer Zydus Pharma Private Limited (BZPPL) was initially set up as a 50:50 joint venture on January 28, 2011, for sale and marketing of pharmaceutical products in India.

Subsequently, Bayer increased its stake to 75 per cent. It is now acquiring the remaining 25 per cent to secure complete control under the pre-agreed JV terms.

“Zydus Lifesciences has been a formidable partner in our joint mission towards introducing best-in-class innovative health solutions and addressing the unmet healthcare needs of patients in India.

“As we assume full ownership of BZPPL, Bayer remains committed to ensuring its steadfast presence in India. Building on the gains made over more than a decade, we aim to carry forward our mission of ‘health for all, hunger for none’,” Shweta Rai, managing director — India and country division head — South Asia, Bayer’s Pharmaceuticals division, said while commenting on the conclusion of the joint venture.

According to its website, the focus of the business has been on prescription products, especially for cardiology and women’s health care, and on specialty therapeutics in the areas of oncology, hematology and ophthalmology.