New Delhi, June 3 -- Zydus Lifesciences announced on Tuesday it is acquiring two biologics contract manufacturing facilities in California from US-based Agenus Inc for a total consideration of up to $125 million. The deal includes an upfront payment of $75 million, with the remaining $50 million to be paid over the following three years.

The Ahmedabad-based pharmaceutical firm said the acquisition will establish its presence in the rapidly-expanding global biologics contract development and manufacturing organization (CDMO) sector.

Zydus is also acquiring a 5.9% stake in Agenus for $16 million, through its wholly-owned subsidiary Zynext Ventures USA LLC, it said in an exchange filing on Tuesday.

The drugmaker has also entered into a li...