Clifford Chance joined hands with J Sagar Associates (JSA) and AZB & Partners to jointly advise Bayer Healthcare on its JV with Cadila Healthcare.
Clifford Chance London partner Sumesh Sawhney, who made partner at the magic circle firm a year ago, led the deal alongside Bayer relationship partner Christoph Witte who is based in Dusseldorf, Germany.
AZB and JSA jointly advised Bayer, with JSA Mumbai partner Nitin Potdar and senior associate Rinku Bhiwandkar handling the initial structuring and strategic advice throughout the transaction, said Potdar. He added that he had a long-standing relationship with Bayer.
AZB’s Mumbai team was led by partner Abhijit Joshi.
The Clifford Chance team also included London senior associate Rishi Gautam, Dusseldorf lawyer Cosima Linzenbach and London trainee solicitor Arunava Mukherjee.
Bayer is a long-standing client of Clifford Chance and Sawhney commented that he expected the transaction to become an important landmark in pharmaceutical industry M&A, which has witnessed heavy activity.
Cadila was represented by its in-house legal team, said Potdar.
Zydus Group-owned Cadila entered into a joint venture (JV) to sell pharmaceutical products in India, a market which is expected to cross the $12bn-$13bn mark by 2012, growing at almost 10 per cent, according to the Wall Street Journal.
The Mumbai-based JV entity Bayer Zydus Pharma would sell products related to women's health, metabolic disorders, cardiovascular diseases, diabetes and cancer, while also selling diagnostic imaging devices.
Photo by blmurch