The abrupt exit of the CEO of Biocon, Ltd.’s biosimilars arm, Christiane Hamacher, was a major talking point at the company’s third quarter earnings call though the firm's management stressed that a “seamless” transition was underway with retired executive and company old-timer Arun Chandavarkar back at the helm.
Biocon Biologics CEO Makes Surprise Exit
Retired Company Veteran Chandavarkar Back At Helm
The CEO of Biocon’s biosimilars subsidiary has unexpectedly departed the role. Management stresses there is no disruption to its "strategic intent", but COVID-19 has "dampened" the arm’s push to reach its aspirational $1bn revenue target by 2022.
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