Bayer unveils Indian joint venture with Zydus Cadila

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The German chemical and pharmaceutical group Bayer said Friday it would create a joint venture in India with Zydus Cadila to enhance its presence in that country's fast growing market.

Bayer Zydus Pharma will focus on women's healthcare, diagnostic imaging, general medecines and oncology, a Bayer statement said.

"With this step, we aim to significantly accelerate our capabilities to better serve the fast growing Indian market," it quoted Joerg Reinhardt, chief executive of Bayer's HealthCare unit, as saying.

The new company is expected to have staff of 600, drawn from the parent groups, but financial details were not provided.

© 2011 AFP

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