Jubilant Life Sciences Limited, an integrated pharmaceuticals and life sciences company, has named Gurpartap Singh Sachdeva (GP Singh) as CEO of its wholly owned firm Jubilant Pharma Ltd, it said on Tuesday.
To be based in the US, Singh will be responsible for the operations under Jubilant Pharma and will report to the Jubilant Pharma board.
Singh previously served as president of Sun Pharmaceuticals, USA. He has worked extensively both in India as well as the US in various leadership roles pertaining to strategy, M&A, commercial and operations.
In the recent past, Pramod Yadav and Rajesh Srivastava were appointed as co-CEOs of the life science ingredients business of Jubilant Life Sciences.
Shyam S Bhartia, chairman and managing director and Hari S Bhartia, co-chairman and managing director of Jubilant Life Sciences Limited, said in a joint statement, “Our pharmaceuticals segment has attained significant scale and the businesses therein have great potential for growth. Singh’s rich experience in pharmaceuticals industry will help the company enhance its focus and competitiveness thereby unlocking shareholder value.”
Jubilant Life Sciences Limited is a global pharmaceutical and life sciences company engaged in manufacture and supply of APIs, generics, specialty pharmaceuticals and life science ingredients. It also provides services in contract manufacturing and drug discovery.
In 2013 it had transferred its pharmaceutical business to a wholly-owned Singapore-based subsidiary Jubilant Pharma and said it plans to list it separately overseas.
As part of its restructuring, the company transferred its active pharmaceutical ingredients (API) and dosage form businesses to Jubilant Pharma Ltd, Singapore. This subsidiary also controls shares held by the group in Jubilant Pharma Holding Inc (USA) and Jubilant Pharma NV (Belgium).
The move was part of a plan to consolidate its API, solid dosage form, radiopharma, allergenic extracts, sterile injectables and ointment, cream and liquid businesses under Jubilant Pharma and to raise money through options including by way of listing the pharma business and reduce debt.
Jubilant Pharma has manufacturing operations in India, the US and Canada.
However, the proposed listing of Jubilant Pharma is pending.
Last year, International Finance Corporation (IFC), a World Bank arm, said it is lending $147.5 million (Rs 865 crore) to Jubilant Pharma.
(Edited by Joby Puthuparampil Johnson) Leave Your Comment