360° Coverage : Biocon's Marketing Chief Quits To Join Mylan

2 Updates
Biocon's Marketing Chief Quits To Join Mylan
Photo Credit: Forbes Business

Biocon's Marketing Chief Quits To Join Mylan

Jan 2 2014, 8:38am CST | by

Bangalore-headquartered biopharma firm Biocon hasn’t had the best start to the new year. The company announced Thursday that its marketing chief Rakesh Bamzai has resigned after 19 years with the...

Filed under: news


41 weeks ago

Biocon's Marketing Chief Quits To Join Mylan

Jan 2 2014, 8:38am CST | by

Bangalore-headquartered biopharma firm Biocon hasn’t had the best start to the new year. The company announced Thursday that its marketing chief Rakesh Bamzai has resigned after 19 years with the organization. The news triggered a fall in Biocon’s shares which ended 2% lower at the close of trading.

Bamzai’s departure comes after a reorganisation within Biocon last year; he was reportedly tipped as a CEO candidate. The company is run by founder Kiran Mazumdar-Shaw who features among India’s richest and also ranks among the world’s most powerful women. She recently joined the board of Infosys which itself saw a top-level departure when director and former CFO V.Balakrishnan resigned in December. (He has since joined the Aam Aadmi Party led by anti-corruption crusader Arvind Kejriwal, newly installed as Delhi’s chief minister)

Speaking to Forbes, Mazumdar-Shaw disclosed that Bamzai’s exit was brewing for a few months but the parting was amicable.“Rakesh got a great career opportunity and we didn’t want to come in the way of his advancement.” Bamzai’s responsibilities will be handled by COO Arun Chandavarkar until a replacement is found.

While no details were forthcoming on Bamzai’s next assignment in the official press statement, the company veteran, who is well regarded within India’s pharma sector, is joining the $6.8 billion (revenues) Mylan as president in charge of India and emerging markets. He will be reporting to Harry ‘Hal’ Korman, Mylan’s chief operating officer. Mylan’s global president Rajeev Malik is also of Indian origin.

Biocon and Mylan have an ongoing collaboration that dates back to 2009 when the companies signed a pact to develop high-value generics which was expanded last year to include insulin. They recently secured Indian regulatory approval for a clone of Roche’s breast cancer drug Herceptin. Mylan on its part has made a big bet on India, a market it entered in 2007. Since then it has made a string of acquisitions, the last being the $1.6 billion purchase of Agila Specialities, a unit of pharma firm Strides Arcolab. It has fourteen factories in the country and employs 11,000 people.

Source: Forbes Business


6 weeks ago

Khazanah throws MAS RM6b lifeline

Aug 29 2014 5:01pm CDT | Source: Business Times Singapore

August 30, 2014 1:15 AMKHAZANAH Nasional will inject RM6 billion (SS$2.4 billion) over three years to resuscitate loss-making Malaysia Airlines (MAS) under a recovery plan that includes even an Act of Parliament. Other key moves are migrating its operations, assets and liabilities to a new company (NewCo) and ...
Source: Business Times Singapore   Full article at: Business Times Singapore


7 weeks ago

MAS posts loss of RM307m for Q2

Aug 28 2014 5:00pm CDT | Source: Business Times Singapore

August 29, 2014 1:13 AMMALAYSIA Airlines (MAS) registered a loss of RM307 million (S$122 million) for the second quarter to end-June, but warned of worse to come in the second half when the "full financial impact of the double tragedies of MH370 a ...
Source: Business Times Singapore   Full article at: Business Times Singapore


Don't miss ...


<a href="/latest_stories/all/all/30" rel="author">Forbes</a>
Forbes is among the most trusted resources for the world's business and investment leaders, providing them the uncompromising commentary, concise analysis, relevant tools and real-time reporting they need to succeed at work, profit from investing and have fun with the rewards of winning.


blog comments powered by Disqus

Latest stories

Personalised vaccine to treat ovarian cancer
New York, Oct 17 (IANS) With a new way to identify protein mutations in cancer cells, an Indian-origin researcher has developed a technique to create personalised vaccines to treat patients with ovarian cancer.
Simple test to predict post-surgery complications
New York, Oct 17 (IANS) A simple test may be able to identify which patients are most likely to experience wound-healing complications following a cancer surgery to remove soft tissue sarcomas.
NASA findings brighten up Sun like never before
Washington, Oct 17 (IANS) New findings by NASA spacecraft about how the Sun's atmosphere or corona or what causes solar winds that can impact technological infrastructure in space and on Earth has given the scientific community an unprecedented amount of information about our Sun.
Joan Rivers died from lack of oxygen to brain during operation
New York, Oct 17 (IANS/EFE) US actress Joan Rivers died from cerebral damage caused by lack of oxygen in her blood, a "predictable complication" during a medical procedure, the New York Chief Medical Examiner's Office has announced.

Latest from the Network

Bush shoe-tossing painting hits record at Doha auction
Doha, Oct 15 (IANS/EFE) A controversial painting by Iranian artist Mahmud Obaidi, depicting an Iraqi journalist throwing shoe in 2008 at then US president George W. Bush, was sold for $62,500 at a Sotheby's auction in...
Read more on Celebrity Balla
US offers $45 mn bounty for eight terror leaders
Washington, Oct 15 (IANS) The US said Tuesday it is offering rewards totalling up to 45 million dollars for information on eight key leaders of the Al Qaeda in the Arabian Peninsula (AQAP) terrorist organisation. The...
Read more on Politics Balla
UNSC extends peacekeeping mission's term in Abyei
United Nations, Oct 15 (IANS) The UN Security Council (UNSC) has renewed the mandate of the UN peacekeeping mission in the Abyei border region between Sudan and South Sudan. In an unanimously adopted resolution, the...
Read more on Politics Balla
Ebola cases in West Africa could reach 10,000 per week: WHO
Geneva, Oct 15 (IANS) The World Health Organisation (WHO) has warned that the Ebola epidemic in West Africa could reach 5,000 to 10,000 cases per week by the first week of December. "Quite frankly, ladies and...
Read more on Business Balla
Turkey, Singapore sign strategic partnership agreement
Ankara, Oct 15 (IANS) Turkey and Singapore have signed a strategic partnership agreement to boost economic, political and cultural cooperation, as well as security collaboration, during the official visit of...
Read more on Politics Balla
Christina Aguilera is returning to 'The Voice' USA
Christina Aguilera will return to 'The Voice' USA next year. The 'Your Body' hitmaker, who previously shared a rotating spot on the judging panel with Shakira, has been replaced by Gwen Stefani this season as she is...
Read more on Celebrity Balla
Kesha's music producer hits back
Kesha is being countersued by her record company boss, Dr. Luke. The 41-year-old music producer, who runs Kemosabe Records, claims the 27-year-old 'Tik Tok' singer is a liar and is trying to extort him after she accused...
Read more on Celebrity Balla
Jason Derulo won't get back together with Jordin Sparks
Jason Derulo insists his split from Jordin Sparks is permanent. The 'Talk Dirty' hitmaker, who recently ended his relationship with the 'No Air' singer after three years of dating, has ruled out getting back together...
Read more on Celebrity Balla
Josh Groban feels 'very lucky' to be dating Kat Dennings
Josh Groban feels ''very lucky'' to be dating Kat Dennings. The 'Brave' hitmaker was very nervous before singing in front of the '2 Broke Girls' actress for the first time at the Carousel of Hope Ball in Beverly Hills,...
Read more on Celebrity Balla
Australian Richard Flanagan wins 2014 Man Booker prize
London, Oct 15 (IANS) The first Man Booker prize to allow American nominees was Tuesday night won by an Australian, with Richard Flanagan triumphing for a novel of love and war that tells the harrowing stories of...
Read more on Celebrity Balla