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Zydus enters biologics CDMO market with $125 million acquisitions
Under the agreement, Zydus will acquire Agenus' biologics facilities in Emeryville and Berkeley, California, for an upfront payment of $75 million (₹642 crore). It will come with an additional $50 million (₹428 crore) payable over three years, contingent upon achieving certain revenue milestones.
The acquisition gives Zydus immediate biologics manufacturing capabilities and a base in California, considered a major hub for biotechnology in the US.
The company said the acquired facilities would allow it to offer end-to-end services from pre-clinical development through largescale commercial manufacturing. The CDMO business will be housed under a new independent entity.
As part of the transaction, Zydus will also become the exclusive contract manufacturer for two of Agenus' late-stage immuno-oncology candidates, Botensilimab and Balstilimab. It will hold the first right of negotiation for future pipeline products.
The acquired facilities include an experienced professional team, which Zydus plans to expand. The company said it expects to create additional jobs and contribute to the local economy of California.
Sharvil Patel, managing director, Zydus Lifesciences, said, 'The acquisition will give Zydus a strategic foothold in the US and enhance our ability to partner with innovation-centric entities, advancing new products and prioritising patient-centric solutions. This move strengthens our long-term biologics vision and positions us to better serve the needs of the global biopharmaceutical industry.'
According to estimates cited by Zydus, the global biologics CDMO market is projected to grow at a compound annual growth rate (CAGR) of 15.7 per cent between 2025 and 2034, reaching around $84.9 billion by 2034.
The market's growth is being driven by increasing complexity of therapies, a shift towards biologics, and limited manufacturing infrastructure among small biotech companies.
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