Cadila Healthcare Ltd reappoints Dr. Sharvil P Patel as MD

The Board of Directors of Cadila Healthcare Ltd at their meeting held today i.e. January 21, 2022, based on the recommendation of the Nomination and Remuneration Committee and subject to approval of the members of the Company, have approved the proposal to re-appoint Dr. Sharvil P. Patel (DIN: 00131995) as the Managing Director of the Company for a further period of 5 (five) year w.e.f. April 1, 2022 to March 31, 2027.

The Company will seek approval of members in an extra ordinary general meeting.

At present, Dr. Sharvil Patel is the Managing Director of the Company, which is one of the leading global healthcare providers and the 4th largest pharmaceutical company in India. He also officiates as the Chairman on the Board of Zydus Wellness Ltd., which is creating several novel experiences for the health conscious consumers and has a basket of niche products and iconic brands such as Sugar Free, Everyuth, Nutralite, Com plan, Glucon D and Nycil. With a specialisation in Chemical and Pharmaceutical Sciences from the University of Sunderland, U.K., and a doctorate also from the same university for his research work in Breast Cancer at Johns Hopkins, Bayview Medical Centre, USA, Dr. Sharvil Patel combines both pharma and research expertise.

Dr. Sharvil Patel's leadership inspires people to look at an expansive canvas of thoughts and ideas while focusing on a well-defined implementation roadmap. He was conferred the '40 Under 40 Most Influential Asians' Award by the Asian Business & Social Forum 2018 (ABSF) and the Young Business Leader '40 under Forty' Award by ET Now in 2017. Recently he has also been conferred the 'The Economic Times Most Promising Business Leaders of Asia 2020-21' Award, 'GenNext Entrepreneur of the Forbes India Leadership Awards (FILA) 2020-21' by the Forbes India and 'Young Turks Award' by India Pharma Awards 2021.

The Company is the first Indian pharma company to launch its own patented NCE-Lipaglyn, the novel drug to be approved for the treatment of diabetic dyslipidemia. The group is also the first in the world to announce a treatment for non-cirrhotic NASH, an unmet healthcare condition globally. Supporting the nation in the fight against the novel Coronavirus, Zydus Cadila is at the forefront manufacturing therapies and lifesaving drugs, exploring new therapy options through research, discovering vaccines and manufacturing diagnostic kits. The company also received the emergency use authorization for the world's first DNA plasmid vaccine ZyCoV-D.

Shares of Cadila Healthcare Limited was last trading in BSE at Rs. 418.60 as compared to the previous close of Rs. 423.95. The total number of shares traded during the day was 100934 in over 4660 trades.

The stock hit an intraday high of Rs. 427.00 and intraday low of 416.30. The net turnover during the day was Rs. 42416938.00.

Source : Equity Bulls

Keywords

CadilaHealthcare INE010B01027 Reappointment MD