Bayer and Zydus Cadila sign joint venture agreement to strengthen pharmaceutical business in India
Posted: 28 January 2011 | | No comments yet
Bayer HealthCare and Zydus Cadila signed today an agreement in Mumbai, India, to form the Joint Venture Company Bayer Zydus Pharma…
Bayer HealthCare and Zydus Cadila signed today an agreement in Mumbai, India, to form the Joint Venture Company Bayer Zydus Pharma...
Bayer HealthCare and the Indian company Zydus Cadila signed today an agreement in Mumbai, India, to form the Joint Venture Company Bayer Zydus Pharma. With this newly established marketing and sales enterprise, Bayer aims to enhance its presence in the fast growing pharmaceutical market in India. Each party will hold 50 percent of the shares of Bayer Zydus Pharma, and be equally represented on its management board.
For Bayer HealthCare the formation of Bayer Zydus Pharma is a crucial element of the company’s strategy to build a stronger presence in the emerging markets. “With this step, we aim to significantly accelerate our capabilities to better serve the fast growing Indian market. We believe that the Joint Venture between Bayer HealthCare and Zydus Cadila will provide a win-win situation for both partners,” said Dr. Jörg Reinhardt, CEO of Bayer HealthCare AG. “We expect to leverage on the strengths of the Joint Venture such as the optimized product portfolio and the distribution capabilities to enhance the launch of new products and the sales of existing brands.”
Both partners will bring into Bayer Zydus Pharma a complementary product portfolio and specialized sales forces in women’s healthcare, diagnostic imaging, and general medicines as well as oncology. The new company, headquartered in Mumbai, India, will furthermore combine Zydus Cadila’s strong Indian marketing and sales expertise as well as excellent distribution and industry network with Bayer HealthCare’s expertise in successfully commercializing novel products and sophisticated administration and sales processes according to international standards. In total some 600 employees, coming from both Bayer HealthCare as well as from Zydus Cadila, will join Bayer Zydus Pharma.
Bayer Zydus Pharma will operate in key segments of the Indian pharma market with a focus on: women’s healthcare, diagnostic imaging, cardiovascular diseases, anti-diabetic treatments, and oncology. Bayer Zydus Pharma’s future product portfolio will not only include in-licensed and originator brands, but also patented pharmaceuticals from Bayer HealthCare’s pipeline. The combined portfolio will encompass among others such popular brands as Glucobay®, Xarelto®, Nexavar® and Yaz/Yasmin® from Bayer HealthCare as well as products currently marketed by Zydus Cadila such as Euglim® , Progynova® and Ultravist®.
