Bayer HealthCare and the Indian company Zydus Cadila signed an agreement in Mumbai, India, to form the Joint Venture Company Bayer Zydus Pharma. With this newly established marketing and sales enterprise, Bayer aims to enhance its presence in the fast growing pharmaceutical market in India. Each party will hold 50 percent of the shares of Bayer Zydus Pharma, and be equally represented on its management board. For Bayer HealthCare the formation of Bayer Zydus Pharma is a crucial element of the company's strategy to build a stronger presence in the emerging markets. "With this step, we aim to significantly accelerate our capabilities to better serve the fast growing Indian market. We believe that the Joint Venture between Bayer HealthCare and Zydus Cadila will provide a win-win situation for both partners," said Dr. Jörg Reinhardt, CEO of Bayer HealthCare AG.