Zydus Lifesciences extends Sterling Biotech API business acquisition deadline

Zydus Lifesciences Limited announced a further extension to the closing date for its acquisition of the API business from Sterling Biotech Limited (SBL). The transaction, initially expected to close by December 31, 2024, was previously extended to September 30, 2025.

SBL is currently working to fulfill certain conditions precedent outlined in the Business Transfer Agreement (BTA). Consequently, Zydus Lifesciences and SBL have mutually agreed to extend the closing date again to December 31, 2025.

The company had initially informed about the execution of the BTA for the acquisition of the "Target Business" on September 17, 2024. The transaction is now expected to be completed on or before the newly agreed December 31, 2025 deadline.