Leading Indian drug companies such as Dr Reddy’s Laboratories, Sun Pharma, Glenmark and Lupin are now in a transformation mode, from traditional family-run businesses to corporations run by high-profile professionals.
If most of the top 10 Indian drug companies were less than Rs 500-crore turnover ones a decade earlier and were focused only on domestic business, now they are companies with annual businesses ranging from Rs 2,000-Rs 6,000 crore and with operations spanning 60-100 countries and employing 3,000-5,000 people.
Sun Pharma, now an over Rs 4,000-crore company and India’s largest drug manufacturer in terms of market capitalisation, will soon have a new chief executive officer, S Kalyanasundaram, former managing director of GlaxoSmithKline Pharmaceuticals (GSK India) and GSK’s Asia Pacific director. The 26-year-old company was so far headed by Dilip Shanghvi, chairman and managing director, and his brother-in-law, Sudhir Valia, whole-time director.
Last week, Dr Reddy’s Laboratories, the largest Indian drug maker, brought in Sanjeev Verma, a former Moser Baer, Max New York Life and Dell executive as the new head for corporate communications and branding.
The Rs 7,000-crore company, which re-organised its entire drug research and generics business focus last year, had then appointed former Eicher and PepsiCo executive, Umang Vohra, as chief financial officer (CFO) and elevated Saumen Chakraborty, former CFO and HR head as president–corporate and global generics operations.
More info here
