28 January 2011 08:43 [Source: ICIS news]
The 50:50 marketing and sales enterprise named Bayer Zydus Pharma will be headquartered in Mumbai, the company said.
Financial details of the transaction were not disclosed.
The JV would have about 600 employees, Bayer said.
"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," said Bayer HealthCare CEO Jorg Reinhardt in a statement.
Bayer Zydus Pharma would operate in key segments of the Indian pharmaceutical market, with a focus on women’s healthcare, diagnostic imaging, cardiovascular diseases, anti-diabetic treatments, and oncology.
Its future product portfolio would include in-licensed and originator brands, as well as patented pharmaceuticals from Bayer HealthCare’s pipeline, Bayer said.
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