Cadila extends tenure of JV with Bayer for 3 years; Stock climbs 1%

The JV company is Bayer Zydus Pharma Private Limited.

Jun 21, 2021 11:06 IST India Infoline News Service

Cadila Healthcare
Zydus Cadila, listed as Cadila Healthcare, on Monday announced that the company has signed an agreement to extend the tenure of the joint venture agreement (“JVA”) with Bayer (South East Asia) PTE Limited, one of the companies of the Bayer Group, for three years.

The JV company is Bayer Zydus Pharma Private Limited.

The purpose of entering into the JVA is for carrying on the business of marketing pharmaceutical products.

The amendment is to extend the term of the JVA for three years till May 1, 2024. The Company believes that the extension of the JVA would be beneficial considering the prospects of the growth of the JV over the next three years.

At around 11.46 AM, Cadila was trading at Rs624.50  per piece up by Rs4.30 or 0.69% on Sensex.

The stock has touched an intraday high and low of Rs627.65 per piece and Rs613.75 per piece respectively.  

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