Zydus to acquire stake in Mylab firm for 106 cr

Mumbai: Zydus Lifesciences announced that it will acquire a 6.5% stake in diagnostic firm Mylab Discovery Solutions for Rs 106 crore. Zydus Animal Health, a subsidiary of Zydus Lifesciences, will acquire the stake from Rising Sun Holdings, an investment company owned by Serum Institute promoter Adar Poonawalla. The acquisition represents collective vision to transform healthcare by combining therapeutic expertise and the diagnostic capabilities of the two companies, says a company statement.
Sujit Jain, director of strategy, Mylab, said, “I am confident this partnership will revolutionise the way diseases are diagnosed, treated, and prevented.” TNN