Zydus Life, Sunshine Healthcare form JV for pharma manufacturing in Sri Lanka
This story was originally published at 17:40 IST on 27 June 2026
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NEW DELHI – Zydus Lifesciences Ltd. and Sunshine Healthcare Lanka Ltd. announced a strategic joint venture company, Zydus Sunshine Lifesciences Pvt. Ltd., with an investment commitment of over $20 million. The joint venture will set up a pharmaceutical manufacturing facility in Sri Lanka aimed at strengthening local production and reducing import dependence, Zydus Lifesciences said in a press release Friday.
Zydus Lifesciences said in an exchange filing that it has entered into a share subscription and shareholders' agreement with Sunshine Healthcare and Zydus Sunshine Lifesciences to subscribe to 50% of the total paid-up equity share capital of the joint venture company for up to $5 million in one or more tranches, the company said. The share subscription is expected to be completed within 90 working days from the date of execution of the share subscription and shareholders' agreement.
Zydus Sunshine will primarily manufacture pharmaceutical products in Sri Lanka. It plans to set up a state-of-the-art manufacturing facility in the Horana Export Processing Zone on the island. The aim is to strengthen local production in Sri Lanka, reduce import dependence, improve access to high-quality medicines, and support national supply chain resilience. "The plant will focus on manufacturing pharmaceutical products for Sri Lanka's retail market, improving access to high-quality medicines while supporting national supply chain resilience," the company said.
For the March quarter, Zydus Lifesciences had reported a consolidated net profit of INR 12.7 billion on revenue of INR 75.87 billion. Thursday, its shares ended at INR 1,101.40 on the National Stock Exchange, up slightly from Wednesday. The domestic equity market was shut Friday for Muharram. End
US$1 = INR 94.39
Reported by Vaishali Tyagi
Edited by Rajeev Pai
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