Shreehas Tambe appointed as Managing Director & CEO of Biocon Biologics Ltd

Biocon Biologics Ltd. (BBL), a subsidiary of Biocon Ltd. (BSE code: 532523, NSE: BIOCON), announced today that Shreehas Tambe, Deputy CEO of Biocon Biologics, has been appointed as the Managing Director and CEO of the Company from December 5, 2022. Mr Tambe will lead BBL in realizing its goal of being a global biosimilars leader.

Mr Tambe takes over from Dr Arun Chandavarkar, who will continue to serve as a nonExecutive, non-Independent Director on the Board of Biocon Biologics.

Welcoming Mr Tambe, Kiran Mazumdar-Shaw, Executive Chairperson, Biocon & Biocon Biologics, said, "I am extremely pleased 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. His demonstrated track record of business success, deep technical and operational expertise provide him with proven leadership capabilities to assume this role. Shree has 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. I extend my best wishes to him for a successful journey ahead."

Shreehas Tambe, Managing Director & CEO, Biocon Biologics, said: "As I step into the role of Managing Director and CEO, I am deeply humbled and honored by the confidence that the Board of Biocon Biologics has reposed in me to lead the company. It has been an absolute privilege to have participated in the evolution of Biocon from an enzymes company to a global biopharmaceutical enterprise. As a company we have always pushed boundaries, challenged status-quo, and Dared to Dream - Big! The recent acquisition of Viatris' global biosimilars business, is a gamechanging event in our journey. As a fully integrated Biosimilars company this puts us in a unique position to serve patients across the world. 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."

Speaking about Dr Chandavarkar's contributions, Ms Mazumdar-Shaw said: "I would like to thank Arun for his tremendous contributions to the Biocon Group and Biocon Biologics over the past three decades. Arun has been an integral part of Biocon's journey since 1990 and came back from retirement to step in as the Managing Director of Biocon Biologics in January 2021. 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."

Dr Arun Chandavarkar, the outgoing MD, Biocon Biologics, said: "It's been my privilege to have led Biocon Ltd and now, Biocon Biologics through many pivotal moments and pioneering achievements over my three-decade association with the company. I wish my successor Shreehas and all my colleagues the very best in continuing the transformation of Biocon Biologics into a leading global biosimilars company with fully integrated capabilities. The greatest satisfaction comes from knowing that we make a positive difference to patients globally, especially in terms of access and affordability."

As Deputy CEO of Biocon Biologics since March 2021, Mr Shreehas Tambe has played an important and very effective role in supporting Dr Arun Chandavarkar steer the Company towards sustainable growth and build a strong foundation for the future. Both have also played an integral role in Biocon Biologics' historic acquisition of Viatris' global biosimilars business and the strategic alliance with Serum Institute Life Sciences (SILS), which will drive BBL's future growth and create long-term value for all its stakeholders.

Mr Shreehas Tambe has been with Biocon since 1997 and has held diverse leadership and operational roles. Over the past 25 years, he has helped build and shape Biocon's biosimilars business and spearheaded the Group's strategic capital investments, including its first overseas facility in Malaysia. He has also been instrumental in securing regulatory approvals and enabling the successful launch of several of the Company's biosimilar assets in global markets such as the U.S. and EU.

Mr Shreehas 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.

Shares of Biocon Limited was last trading in BSE at Rs. 283.70 as compared to the previous close of Rs. 285.50. The total number of shares traded during the day was 42724 in over 819 trades.

The stock hit an intraday high of Rs. 285.25 and intraday low of 282.00. The net turnover during the day was Rs. 12094641.00.

Source : Equity Bulls

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