Bayer Healthcare has signed an agreement with Zydus Cadila to form a joint venture company, Bayer Zydus Pharma.

Through the joint venture company, Bayer hopes to increase its presence in the Indian pharmaceutical market, establishing a complementary product portfolio with specialised sales forces in women’s healthcare, diagnostic imaging and oncology.

Capitalising on Zydus Cadila’s experience of the Indian pharmaceutical market, Bayer hopes to encompass popular brands such as Glucobay, Xarelto and Nexavar.

The two companies will each hold a 50% stake in Bayer Zydus and will be equally represented on its management board.