Bayer sets up marketing JV deal with India's Zydus Cadila to strengthen pharma business in India

31 January 2011

German drug and chemicals major Bayer (BAY: DE) has signed an agreement with India’s Zydus Cadila to form 50%/50% sales and marketing joint venture to be called 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.

Fast-growing Zydus Cadila already has a JV with Switzerland’s Nycomed (Zydus Nycomed, formed in 1998), a licensing deal with US health care major Abbott Laboratories and a strategic alliance with Mallinckrodt to market generic drugs in the USA (The Pharma Letters passim).

India’s drugs sector has attracted a deal of interest from multinational drugmakers, including several outright acquisitions that have irked the government, Currently valued at some $10.5 billon, the Indian prescription pharmaceutical market is increasing at a compound annual growth rate (CAGR) of 19.6%.

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