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21 signals for Supply Chain · Sri Lanka · Update
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Zydus Lifesciences and Sri Lanka's Sunshine Healthcare on Friday announced the setting up of a joint venture with an investment commitment of over USD 20 million to establish a pharmaceutical manufacturing facility in the island nation. The company has entered into a share subscription and shareholders' agreement (SSSHA) with Sunshine Healthcare Lanka Ltd (Sunshine) and Zydus Sunshine Lifesciences (Pvt) Ltd (Zydus Sunshine), Zydus Lifesciences said in a regulatory filing. Under the SSSHA, Zydus Lifesciences will subscribe 50 per cent of the total paid-up equity share capital of Zydus Sunshine for up to USD 5 million in one or more tranches, it added.