Zydus Lifesciences Forms USD 20M+ Joint Venture in Sri Lanka

Zydus Lifesciences has partnered with Sunshine Healthcare Lanka Limited to form a 50:50 joint venture, Zydus Sunshine Lifesciences (Private) Limited. The JV will invest over USD 20 million to build a state-of-the-art pharmaceutical manufacturing facility in the BOI zone in Horana, Sri Lanka. Key Deal Details: Investment & Equity: >USD 20 million total commitment; Zydus subscribes to 50% of the paid-up equity. Governance: A 6-member Board of Directors (3 from each partner). Zydus appoints the Chairperson, holding a casting vote on non-reserved matters. Milestone: The foundation stone was laid on June 26, 2026, on a nearly 4-acre site. Strategic Rationale: Import Substitution: The facility will manufacture medicines for the local retail market, significantly reducing Sri Lanka's import dependence and bolstering national healthcare supply chain resilience. Synergies: Combines Zydus’s global manufacturing and technology transfer expertise with Sunshine’s established local market presence and distribution network. Market Expansion: Deepens Zydus's footprint in South Asia while creating skilled local employment and driving industrial growth. Outlook: This localized manufacturing strategy secures long-term market access and revenue visibility for Zydus in a high-growth region, aligning with global trends toward regional supply chain security.