Cadila Healthcare, Bayer to extend JV Bayer Zydus Pharma by 3 years
Mumbai: Bayer (South East Asia) Pte Ltd and Cadila Healthcare Limited have announced the extension of their Joint Venture by three years from June 2021.
The companies first entered into an agreement on January 28, 2011 to set up the Joint Venture - Bayer Zydus Pharma Private Limited for the sales and marketing of pharmaceutical products in India, with headquarters in Mumbai.
"Over the last ten years, Bayer Zydus Pharma has been a successful partnership combining Bayer's scientific expertise and commercialization of novel products backed by Cadila Healthcare's strong India presence. The Joint venture company focused on addressing the unmet healthcare needs of patients in India by providing best-in-class innovative health solutions," the release stated.
During the term of the joint venture, the company also launched some of Bayer's global innovative assets like Xarelto, EyleaTM and Visanne in India.
As per a recent statement, "Bayer Zydus Pharma will continue to operate in core therapies including cardiovascular diseases, diabetes, women's health ,ophthalmology and oncology, with new products in the pipeline."
Key products in the company's pharmaceutical portfolio include Xarelto, Glucobay, EyleaTM, Yaz, Mirena and Visanne amongst others.
Through strategic and time-honoured alliances with local partners, Bayer Zydus Pharma will continue to offer new-generation therapies to address the nation's prevailing and emerging health concerns, the firm said in a statement.
Mr. Manoj Saxena, Managing Director, Bayer Zydus Pharma, said, "The Joint Venture with our trusted partner Zydus Cadila has been successful over the last decade in driving scalable reach of our health solutions to patients across the country. We endeavour to carry this momentum forward, harnessing the benefits of our partnership towards delivering innovation-led, patient-centric offerings and digital health tools in India. By sustaining the gains we have made over the years, we aim to fulfill unmet patient needs, strengthen the Indian healthcare ecosystem and translate our vision of 'Health for All, Hunger for None' into reality."
Speaking on the development, Managing Director of Cadila Healthcare Ltd., Dr. Sharvil Patel said, "We have always believed in the power of collaboration and working with partners to create win-win alliances which unlock value for patients and the healthcare system at large. The spirit of partnership in this joint venture has all been about channeling the core strengths of both Zydus and Bayer for the benefit of the patients. By maximizing the reach, enabling access to innovative products for the patients and leveraging expertise for better health outcomes, the JV has set a benchmark. Moving ahead, we see the efforts intensifying as we address a common goal of contributing to a robust and sustainable healthcare system in India."
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