The Board of Zydus Lifesciences at its meeting held on 17 September 2024 has approved a Business Transfer Agreement (BTA) to purchase the API business (the Target Business) of Sterling Biotech (SBL), on a going concern basis, on slump sale basis, without values being assigned
to individual assets and liabilities, on cash-free and debt-free basis at a pre-defined lump-sum consideration of Rs. 84 crore.
The Target Business of SBL consists of a portfolio of fermentation-based API products like Lovastatin, Daunorubicin, Doxorubicin and Epirubicin.