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Pharmaceutical majors Cadila Healthcare Ltd (Zydus Cadila) and Bayer Healthcare on Friday announced an agreement to set up a joint venture company, Bayer Zydus Pharma (BZP), for the sales and marketing of pharmaceutical products in India.
The two entities signed an agreement in this regard, by which each party will hold 50 per cent of the shares of BZP and will be equally represented on the board. Headquartered in Mumbai, BZP will start operations with Bayer HealthCare's Pharmaceutical Division transferring its existing sales and marketing business in India to the new company, and Zydus its women's healthcare products, diagnostic imaging business and other products, according to a company statement here.
BZP will operate in key segments of the Indian pharmaceuticals market with a focus on women's healthcare, metabolic disorders, diagnostic imaging, cardiovascular diseases, anti-diabetic treatments and oncology. In addition to Bayer HealthCare's existing pharmaceutical product portfolio in India, the JV is also intended to focus on the sales and marketing of future patented pipeline pharmaceutical products.
Both Bayer HealthCare and Zydus will supply the JV with products sourced from their manufacturing operations at existing locations.
Emerging markets
Through this pact, Bayer HealthCare and Zydus underline the importance of the emerging markets, specifically India, Mr Pankaj R Patel, Chairman and Managing Director, Zydus Cadila, said.
Through the JV, while Bayer HealthCare is expected to enhance its marketing capabilities in India as part of its emerging market growth strategy, Zydus Cadila will maintain its position in India and strengthen its network with global healthcare players, including in relation to its manufacturing capabilities.
Dr Jörg Reinhardt, CEO, Bayer HealthCare AG, said he expected to leverage the strengths of Bayer Zydus Pharma, such as the optimised product portfolio and the distribution capabilities to enhance the launch of new products and the sales of existing brands.
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