Zydus Lifesciences Limited has acquired 6.5 per cent stake in Mylab Discovery Solutions from Rising Sun Holdings, an investment company owned by Adar Poonawalla, for ₹106 crore.
The deal was executed through Zydus Lifesciences’ wholly-owned subsidiary Zydus Animal Health &Investments Limited.
Hasmukh Rawal, Managing Director, Mylab, said the research and development capabilities of Zydus in therapeutics, combined with the research expertise of Mylab in diagnostics, along with Zydus’ last-mile access, had the potential to bring decentralized healthcare solutions to people. “By focusing on decentralised healthcare, the companies can empower individuals, healthcare providers, and communities with timely and accurate diagnostics, effective treatments, and localised healthcare services,” he added.
Sujit Jain, Mylab’s Director of Strategy, pointed out this was the first time in India, a pharmaceutical company, a diagnostic company, and a vaccine manufacturer have come together.
The collaboration will open up opportunities for advancements in precision medicine, personalized treatments, and preventive care, the note said, adding, the transaction was subject to fulfilment of conditions.
(eom)