Mumbai-based pharma major Lupin Ltd has appointed Theresa Stevens as chief corporate development officer for its global operations and will be responsible for global merger and acquisitions (M&A) and speciality business strategy.
She joins Lupin from Aptalis Pharma, a US-based speciality drugmaker, which was previously owned by private equity giant TPG. At Aptalis, she was the chief corporate development officer responsible for M&A, strategy and global business development. Aptalis, which was set to go public, eventually opted for a deal where it was acquired by Forest Laboratories for $2.9 billion.
Theresa has close to three decades of experience in the pharmaceutical and biotech sector. She started her career as a research scientist at DuPont and has worked with Novartis for almost a decade and held various senior positions.
She has also worked with Antex Biologics Inc, Pennie & Edmonds and DuPont Merck Pharmaceuticals in the past.
“I am very pleased to welcome Theresa to the Lupin family. I am sure her rich experience in the areas of M&A and speciality strategy within the pharmaceutical and biotech industry sector will help Lupin’s growth plans,” said Nilesh Gupta, MD of Lupin.
Given Lupin’s recent moves, the new appointment signals a push coming from inorganic growth strategy.
Theresa obtained a Masters degree in biochemistry from University of Maryland and is a Juris Doctor (JD) from the Widener University School of Law, Wilmington, Delaware.
Established in 1968 by Desh Bandhu Gupta, Lupin is a significant player in the cardiovascular, diabetology, asthma, pediatric, CNS, GI, anti-infective and NSAID space. The company started selling branded products in the US in 2004 after acquiring Suprax antibiotic from Wyeth.
For the financial year ended March 31, 2013, Lupin’s consolidated turnover and net profit were Rs 9,461.6 crore ($1.74 billion) and Rs 1,314.2 crore ($242 million), respectively.
Recently the firm acquired Mexico-based ophthalmic products firm Laboratorios Grin, S.A. De C.V. (Grin) and Dutch complex injectables firm Nanomi B.V. for an undisclosed amount.
(Edited by Joby Puthuparampil Johnson)