This story first appeared in DNA Money edition on January 03, 2014.
Post the US parent Mylan Inc accomplishing the $1.75-billion acquisition of Agila injectables businesses from Strides Arcolab in December last year, the Indian subsidiary is now understood to be getting on board a top-notch pharma industry veteran to lead its Indian business activities.
Touted to be taking up a leadership position with Mylan India is Rakesh Bamzai, (pictured) who recently quit as president of Bangalore-based biopharmaceutical company, Biocon Ltd, after 19 years of association.
“He (Bamzai) is joining Mylan India,” confirmed an industry source familiar with the move.
Bamzai could not be reached for a comment on this move, while Mylan India did not respond to a email seeking confirmation on the same.
While details about the leadership position at Mylan India is still unknown, industry sources say it could very likely be a similar position Bamzai held at Biocon or possibly a higher management position.
Interestingly, in a notification to the exchanges, Biocon had said that Bamzai has decided to leave the organisation to accept a new leadership role.
“Rakesh has decided to take up a very senior and challenging leadership assignment,” said Kiran Mazumdar-Shaw, chairperson and managing director, Biocon.
Media reports had indicated that Bamzai was widely considered to be the next chief executive officer (CEO) of Biocon despite the fact that the biopharmaceutical company was going through a process of extensive reorganisation.
Mylan Labs’ current CEO and managing director, B Hari Babu, has been associated with the company since May 2001.
Hari is responsible for all of Mylan Labs’ operations including research and development, active pharmaceutical ingredient (API) and finished dosage production, supply chain management, environmental health and safety, sales and marketing, human relations and finance.
Mylan Labs is one of the world’s largest manufacturers and suppliers of over 150 APIs.
Among a wide range of therapeutic categories being catered to by Mylan include antibacterials, central nervous system agents, antihistamine/anti-asthmatics, cardiovasculars, antivirals, antidiabetics, antifungals, proton pump inhibitors and pain management drugs.
Update from Mylan Inc.
Mylan Inc (Nasdaq: MYL) announced that Rakesh Bamzai has joined the company and has been appointed president, India Commercial and Emerging Markets.
Bamzai has more than 20 years of experience in the Indian and global biopharmaceutical industry. Prior to joining Mylan, he was president of Marketing at Biocon, where he played a key role in building the company's global biopharmaceutical business. He had overall responsibility for active pharmaceutical ingredients (API) and branded formulations and managed a team of more than 2,000 people across functional areas and geographies.
Through the years, he also spearheaded many strategic partnerships that enabled the organization to gain wider global access and greater market penetration for its biopharmaceuticals business. Bamzai also led Biocon's foray into branded formulations and built many successful brands across therapies in India and Gulf Cooperation Council states.
Post the US parent Mylan Inc accomplishing the $1.75-billion acquisition of Agila injectables businesses from Strides Arcolab in December last year, the Indian subsidiary is now understood to be getting on board a top-notch pharma industry veteran to lead its Indian business activities.
Touted to be taking up a leadership position with Mylan India is Rakesh Bamzai, (pictured) who recently quit as president of Bangalore-based biopharmaceutical company, Biocon Ltd, after 19 years of association.
“He (Bamzai) is joining Mylan India,” confirmed an industry source familiar with the move.
Bamzai could not be reached for a comment on this move, while Mylan India did not respond to a email seeking confirmation on the same.
While details about the leadership position at Mylan India is still unknown, industry sources say it could very likely be a similar position Bamzai held at Biocon or possibly a higher management position.
Interestingly, in a notification to the exchanges, Biocon had said that Bamzai has decided to leave the organisation to accept a new leadership role.
“Rakesh has decided to take up a very senior and challenging leadership assignment,” said Kiran Mazumdar-Shaw, chairperson and managing director, Biocon.
Media reports had indicated that Bamzai was widely considered to be the next chief executive officer (CEO) of Biocon despite the fact that the biopharmaceutical company was going through a process of extensive reorganisation.
Mylan Labs’ current CEO and managing director, B Hari Babu, has been associated with the company since May 2001.
Hari is responsible for all of Mylan Labs’ operations including research and development, active pharmaceutical ingredient (API) and finished dosage production, supply chain management, environmental health and safety, sales and marketing, human relations and finance.
Mylan Labs is one of the world’s largest manufacturers and suppliers of over 150 APIs.
Among a wide range of therapeutic categories being catered to by Mylan include antibacterials, central nervous system agents, antihistamine/anti-asthmatics, cardiovasculars, antivirals, antidiabetics, antifungals, proton pump inhibitors and pain management drugs.
Update from Mylan Inc.
Mylan Inc (Nasdaq: MYL) announced that Rakesh Bamzai has joined the company and has been appointed president, India Commercial and Emerging Markets.
Bamzai has more than 20 years of experience in the Indian and global biopharmaceutical industry. Prior to joining Mylan, he was president of Marketing at Biocon, where he played a key role in building the company's global biopharmaceutical business. He had overall responsibility for active pharmaceutical ingredients (API) and branded formulations and managed a team of more than 2,000 people across functional areas and geographies.
Through the years, he also spearheaded many strategic partnerships that enabled the organization to gain wider global access and greater market penetration for its biopharmaceuticals business. Bamzai also led Biocon's foray into branded formulations and built many successful brands across therapies in India and Gulf Cooperation Council states.
Mylan President Rajiv Malik commented, "We were extremely pleased when Rakesh asked to join our company. Many of us at Mylan have had a firsthand opportunity to work with Rakesh over the course of our strategic partnership with Biocon and have observed his strong business and marketing acumen, his strategic insight and outstanding leadership skills. In this new role overseeing all of Mylan's commercial operations in India and emerging markets, we believe that Rakesh will add significant value to Mylan."
Bamzai said, "I have had the privilege of collaborating with Mylan during my time at Biocon, and I am excited about the significant opportunities I see for the company in India and other emerging markets. I believe Mylan's commitment to quality and to setting new standards for innovation, reliability and service for patients and physicians in India will further distinguish Mylan from its peers. I look forward to supporting Mylan's continued expansion and differentiation in these exciting growth markets."
Bamzai graduated from the University of Mumbai (Department of Chemical Technology).
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