Zydus Lifesciences has announced an extension of the closing date for its acquisition of the active pharmaceutical ingredient (API) business of Sterling Biotech Limited (SBL). The transaction, which was initially expected to be completed by December 31, 2024, has now been extended to September 30, 2025.
The company had first disclosed the deal on September 17, 2024, after signing a business transfer agreement (BTA) with SBL. However, as per a subsequent update on December 27, 2024, both parties mutually agreed to extend the deadline to March 31, 2025, citing the need to fulfil certain conditions precedent.
In its latest regulatory filing, Zydus Lifesciences stated that SBL is still in the process of completing the required conditions, necessitating another extension. As per the revised agreement signed on March 28, 2025, the new deadline for the transaction’s completion has been set for September 30, 2025.
“SBL is still working on fulfilling certain conditions outlined in the BTA, and it is expected to take additional time. As per the terms of the agreement, both parties have mutually decided to extend the closing date,” Zydus Lifesciences said in its statement.
The acquisition is expected to strengthen Zydus Lifesciences’ API business by expanding its manufacturing capabilities and market reach.
