Biocon Biologics Limited (BBL), a subsidiary of Biocon Limited, has announced Shrihas Tambe, Deputy CEO of Biocon Biologics, as the new Managing Director and CEO of the company with effect from December 5, 2022. Tambe will lead BBL in realizing its goal. Being the global biosimilar leader, the company said.
Tambe takes 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 from March 2021 onwards.
Kiran Mazumdar-Shaw, Executive Chairperson, Biocon and Biocon Biologics, said: “It is with great pleasure that Shrihas will take over as MD & CEO of Biocon Biologics at a time when the company is poised for global leadership in biosimilars. Completion of the Vytris acquisition. He added that Shree is future-ready, aided by a highly experienced executive leadership team in building the world’s leading biosimilar player and a renowned global brand committed to impacting global healthcare. Will be
Tambe said he is “extremely humbled and honored by the confidence that the Board of Biocon Biologics has placed in him to lead the company.”
He mentioned how the recent acquisition of the global biosimilar business of Vytris is a game changing event in Biocon’s journey. “These are undoubtedly exciting times, and with an exceptional team in place, I look forward to leading Biocon Biologics into its next phase of growth,” said Tambe.
Regarding Chandavarkar’s contribution, Mazumdar-Shaw thanked Arun for his tremendous contribution to the Biocon Group and Biocon Biologics over the last three decades.
He said that under his leadership, Biocon Biologics has made rapid progress towards realizing its strategic goal of being a global leader in biosimilars. “He led the company’s recovery from the pandemic-related shock and steered the organization back on the path of sustainable growth. I look forward to his active contribution to the BBL Board,” he added.
Arun Chandavarkar, outgoing MD of Biocon Biologics, said, “It has been a privilege for him to lead Biocon Limited and now, Biocon Biologics, through many pivotal moments and three decades of pioneering achievements with the company.”
Tambe holds a post graduate degree in Bioprocess Technology from the University of ICT (UDCT), Mumbai and also studied Pharmaceutical Sciences and Technology at the University of Pune. He was awarded the prestigious Distinguished Alumnus Award (Professional) in 2020 by his alma mater, the prestigious ICT, Mumbai.
On Monday, the company’s stock closed at Rs 279, down 1.5 per cent, on the BSE.
Read also: Biocon Biologics to close Wytris deal soon, plans to bring IPO in 12-24 months
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