Zydus Lifesciences, via a wholly-owned subsidiary, has determined to accumulate a 6.5% fairness stake in biotechnology firm Mylab Discovery Solutions for ₹106 crore.
The proposed funding will assist Zydus take part in the rising diagnostics area which is predicted to witness elevated penetration via in-clinic options with ‘point of care’ testing gadgets, the corporate mentioned in a submitting on Zydus Animal Health and Investments signing a share buy settlement with Rising Sun Holdings and Mylab Discovery Solutions to accumulate a bit of over 65 lakh shares.
Mylab is into analysis, growth in addition to manufacturing and advertising and marketing of in-vitro diagnostics kits, tools, reagents and associated therapeutic merchandise linked to its diagnostic portfolio, and affords portfolio options to different labs and hospitals. In the fiscal ended March, it clocked a turnover of ₹95 crore.
