Biocon Biologics Ltd. (BBL), a subsidiary of Biocon Ltd, has announced Shreehas Tambe, Deputy CEO of Biocon Biologics, as the new Managing Director and CEO of the company effective December 5, 2022. Tambe will lead BBL in realising its goal of being a global biosimilars leader, the company said.
Tambe has taken over from Arun Chandavarkar, who continues to serve as a non-Executive, non-Independent Director on the Board of Biocon Biologics. Tambe played an important and very effective role in supporting Arun Chandavarkar since March 2021.
Kiran Mazumdar-Shaw, Executive Chairperson, Biocon & Biocon Biologics, said: "It is extremely pleasing that Shreehas is taking on the responsibility of leading Biocon Biologics as MD & CEO at a time when the company is gearing up for global leadership in biosimilars with the closing of the Viatris acquisition. She added that Shreehas will be aided by a highly experienced Executive Leadership Team in building a futureready, world leading biosimilars player and a well-recognized global brand that is committed to impact global healthcare."
Tambe said he "is deeply humbled and honored by the confidence that the Board of Biocon Biologics has reposed in him to lead the company".
He mentioned how the recent acquisition of Viatris’ global biosimilars business is a game changing event in Biocon's journey. "Undoubtedly these are exciting times, and together with an exceptional team, I am looking forward to leading Biocon Biologics in the next phase of growth," Tambe said.
About Chandavarkar’s contributions, Mazumdar-Shaw thanked Arun for his tremendous contributions to the Biocon Group and Biocon Biologics over the past three decades.
She stated that under his leadership, Biocon Biologics has made rapid strides towards realizing its strategic goal of being a global leader in biosimilars. "He led the Company’s recovery from pandemic-related setbacks and steered the organization back onto the path of sustainable growth. I look forward to his active contributions to the BBL Board," she said
Arun Chandavarkar, the outgoing MD, Biocon Biologics, said it has been his "privilege to have led Biocon Ltd and now, Biocon Biologics through many pivotal moments and pioneering achievements over the three-decade association with the company".
Tambe holds a Masters’ degree in Bioprocess Technology from ICT (UDCT), University of Mumbai and has also studied Pharmaceutical Sciences & Technology at the University of Pune. He was conferred the coveted Distinguished Alumnus Award (Professional) by his alma mater, the prestigious ICT, Mumbai, in 2020.
On Monday, the company's scrip on BSE closed 1.5% lower at Rs 279.
Also read: Biocon Biologics To Close Viatris Deal Soon, IPO Plan Likely In 12-24 Months
Also read: John Shaw, former Biocon VC and Kiran Mazumdar-Shaw’s husband, passes away
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