Biocon Biologics Ltd (BBL), a subsidiary of Biocon Ltd (BSE code: 532523, NSE: BIOCON), today announced that the Board of Directors of Biocon Biologics have appointed Kedar Upadhye as the new Chief Financial Officer (CFO) and the Company’s current CFO, MB Chinappa, will transition to take on a strategic finance role at Biocon Group. These leadership changes will be effective October 31, 2023, the company announced through an exchange filing.
MB Chinappa has served as CFO of Biocon Biologics since his appointment in January 2020 and has played an integral role in developing business strategy and enabling profitable growth. He has helped secure over $500M in Private Equity investment and was instrumental in the Company’s recent $3B+ acquisition of Viatris’ global biosimilars business in 2022 and its strategic vaccines partnership with the Serum Institute of India.
A Biocon veteran, Chinappa joined the Biocon Group in 1999 as a key member of the Finance Leadership Team where he was part of several strategic initiatives including Biocon Limited’s successful IPO in 2004. Subsequently, he moved to Biocon’s research services subsidiary, Syngene, as the CFO in 2008 where he played a significant role in driving business strategy and growth and oversaw a successful public listing in 2015. He joined Biocon Biologics as the CFO in 2020 and has been instrumental in setting up the finance function and driving several strategic initiatives at the company.
Shreehas Tambe, CEO & Managing Director, Biocon Biologics Ltd, said “I would like to thank Chinappa for his immense contribution to Biocon Biologics over the past 3 years and to the Biocon Group for more than two decades. He has successfully built a strong foundation of fiscal prudence, financial governance and risk management. Chinappa has played an invaluable role in the multi-billion-dollar acquisition of Viatris’ global biosimilars business and set up the organization for success.
Biocon Biologics Ltd shares
The shares of Biocon Biologics Ltd on Thursday at 3:30 pm IST closed at Rs 235.55, down by 1.30 percent.