Page 11 - Biocon

Biocon Biologics elevates Shreehas Tambe as managing director, CEO

Biocon Biologics on Monday said it has elevated Shreehas Tambe as Managing Director and CEO of the company with immediate effect. Tambe was Deputy CEO of Biocon Biologics, a subsidiary of Bengaluru-based Biocon. He takes over from Arun Chandavarkar, who will continue to serve as a non-executive, non-independent director on the Biocon Biologics board, the company said in a statement. 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, Biocon & Biocon Biologics Executive Chairperson Kiran Mazumdar-Shaw said. Shreehas will be aided by a highly experienced executive leadership team in building a future-ready, world leading biosimilars player and a well-recognised global brand that is committed to impacting global healthcare, she added. Tambe has been with Biocon since 1997 and has held diverse leadership and operational roles.

Shreehas Tambe elevated as MD & CEO of Biocon Biologics effective Monday

He was earlier the firm's deputy CEO; Outgoing MD Arun Chandavarkar to remain on co Board

Biocon Biologics completes acquisition of Viatris' global biosimilars biz

Biocon on Tuesday said its unit Biocon Biologics has completed the multi-billion dollar acquisition of the global biosimilars business of its partner Viatris Inc. In February this year, Biocon Biologics inked a pact to acquire Viatris Inc's biosimilars business for consideration of up to USD 3.33 billion (about Rs 24,990 crore). Biocon Biologics and Viatris have obtained all applicable approvals from key global regulators, including the US Federal Trade Commission, the Competition Commission of India and the Reserve Bank of India, and its investors, the Bengaluru-based company said in a statement. Effective from the date of closing, Biocon Biologics will recognise the combined revenue and associated profits from the acquired products, a step up from the existing profit share arrangement, it added. As a part of completing the transaction, Biocon Biologics has issued Compulsorily Convertible Preference Shares (CCPS) valued at USD 1 billion, equivalent to an equity stake of at least 1

China-Plus-One strategy: Indian API firms start to reap benefits

Rising Chinese labour costs, geopolitics, pandemic-stricken uncertainties have forced global players to derisk

Stocks to Watch:TCS, Keystone Realtors, Tata Power, Biocon, HG Infra, Adani

Stocks to Watch: Keystone Realtors will debut on the BSE and NSE today. The issue price has been fixed at Rs 541 per share

Trying to lock in vendors who don't want to buy from China: Biocon CEO & MD

Siddharth Mittal, CEO & MD, Biocon, elaborates on his plans to grow this business further

Sensex jumps 249 pts on late buying, Nifty tops 18,400; Airtel, ICICI lead

CLOSING BELL: A late rally in the market, helped the benchmark indices end the rather lacklustre day with notable gains. Debutant Fusion MicroFinance ended at a 12 per cent discount to issue price.

Biocon Q2 results: Net profit declines 10% to Rs 168 crore, revenue up 26%

Biocon's core Ebitda came in at Rs 816 crore, up 34 per cent

MSCI India index rebalancing could stoke Rs 13,000-crore churn

Varun Beverages, Tube Investments, IHCL seen as potential inclusions

I am devastated, will always be guided by John: Biocon chief Kiran Majumdar

Biocon Chief Kiran Majumdar-Shaw, who lost her husband, stated that she is devastated. Sharing her thoughts on social media, she maintained that she will always be guided by her husband John Shaw

Devastated to lose my husband: Biocon founder Kiran Mazumdar-Shaw

Biocon founder Kiran Mazumdar-Shaw said she was devastated to lose her husband and will miss him profoundly. John Shaw, who had served the Bengaluru-headquartered biopharmaceutical company as the Vice-Chairman and Non-Executive Director for over 22 years, passed away at a private hospital here on Monday. "I am devastated to lose my husband, my mentor and soul mate. I will always be spiritually guided by John as I pursue my purpose. Rest in Peace my darling John. Thank you for making my life so very special. I will miss you profoundly," Mazumdar-Shah said. John Shaw, a Scotsman and Indophile, headed a leading textiles MNC Madura Coats as Chairman and Managing Director before joining Biocon in 1999. "He has contributed majorly to the transformation of Biocon from a small enzymes company to a globally recognised biopharmaceutical company and has played an important role in ensuring the highest levels of corporate governance in the company, as well as, in the financial and strategic .

John Shaw, husband of Biocon chief Kiran Mazumdar Shaw, passes away

Biocon executive chairperson Kiran Mazumdar Shaw's husband John Shaw passed away on Monday morning in a private hospital, family sources said. He was 73. Shaw was admitted to the hospital where he was undergoing treatment, they said. The exact reason behind the death was not known. Shaw was the former vice chairman of the Bengaluru-headquartered Biocon Limited. He was an MA (Economics Honours) in History and Political Economy from the University of Glasgow in United Kingdom. He was also the former chairman of Madura Coats Limited and former finance and managing director of Coats Viyella Group.

Biocon falls 12% in 5 days on one major deficiency alert for API unit

The pharma company said it will respond to the European medical regulator with appropriate corrective and preventive actions within the stipulated time.

Biocon sells 5.4% stake in arm Syngene International for Rs 1,220 cr

Drugmaker Biocon on Tuesday divested a 5.4 per cent stake in its research arm Syngene International for a little over Rs 1,220 crore through an open market transaction. According to bulk deal data available with the BSE, Biocon, the promoter of Syngene International, sold a total of 21,789,164 shares, amounting to a 5.4 per cent stake, in the company. The shares were sold at an average price of Rs 560.04 apiece, a discount of more than three per cent to Monday's closing price of Rs 578.75 on the BSE. At this price, the transaction size has been pegged at Rs 1,220.28 crore, the data showed. The scrip of Syngene International has settled 2.38 per cent lower at Rs 565 apiece on the BSE. ICICI Prudential Mutual Fund was among the entities that lapped up the company's shares. As of June year, of the promoters' holding of 70.29 per cent, Biocon held a 69.99 per cent stake in Syngene, the shareholding pattern with the exchange showed. In separate block deals, Raja Ganesan Chandramogan,

Biocon sheds 4%, hits 52-week low as US FDA issues form 483 for 3 sites

The US health regulator has issued Form 483s with 11 observations each for two sites in Bengaluru and six observations for a plant in Malaysia site.

US FDA issues 11 observations each for two sites in Bengaluru: Biocon

Biocon Ltd on Wednesday said the US health regulator has issued Form 483s with 11 observations each for two sites in Bengaluru and six observations for a plant in Malaysia, following inspection of seven manufacturing facilities of its arm Biocon Biologics. As per US Food and Drug Administration (USFDA), Form 483 is issued to a firm's management at the conclusion of an inspection when the investigator has observed any conditions that may constitute violations of the Food Drug and Cosmetic (FD&C) Act and related Acts. The USFDA conducted three on-site inspections of Biocon Biologics' seven manufacturing facilities spanning two sites in Bengaluru, India and one at Johor, Malaysia, Biocon said in a regulatory filing. The inspections started with the Bengaluru site on August 11, 2022 and concluded with the Malaysia site on August 30, 2022, it added. "At the conclusion of these inspections, the agency has issued Form 483s with 11 observations each for the two sites in Bengaluru and six .

CBI files charge sheet in Rs 9 lakh Biocon Biologics bribery case

The CBI has filed a charge sheet in an alleged bribery case in which a senior official of the Central Drugs Standard Control Organisation(CDSCO) and a Biocon Biologics executive were arrested in June this year, officials said It is alleged that the bribe payment of Rs nine lakh to Joint Drug Controller S Eswara Reddy was cleared by the associate vice president of Biocon Biologics L Praveen Kumar, they said. The bribe was allegedly for favourably recommending the file of Insulin Aspart Injection to the Subject Expert Committee (SEC) meeting on May 18 for waiving the phase 3 clinical trial, they said. The agency had filed a charge sheet on August 18, they said. In a coordinated operation, the CBI had arrested Reddy, Kumar, Dinesh Dua, director at Synergy Network India Private Limited, who allegedly gave the bribe to Reddy, Guljit Sethi, an alleged conduit of Biocon Biologics, as well as assistant drug inspector Animesh Kumar in the case. Biocon Biologics, a subsidiary of Kiran Mazum

India at 75: Munjals to Mahindras - 20 visionary industrialists of India

In the decades since Independence, the enterprises steered by these business leaders have morphed into giants. Here's a look at 20 visionary industrialists of India

SAT quashes insider trading charges against Biocon official Shreehas Tambe

The Securities Appellate Tribunal (SAT) has quashed the insider trading charges against Shreehas P Tambe when he was senior vice president of Biocon Ltd.

We're geared to launch a new molecule every 1-2 years: Biocon Biologics MD

In an interview, Arun Chandravarkar explains why a company must continue investing in R&D despite the impact on short-term Ebitda