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Biocon Biologics CEO Makes Surprise Exit

Retired Company Veteran Chandavarkar Back At Helm

 
• By Anju Ghangurde

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.

Cubes with CEO
Biocon Biologics CEO Departs Over Professional Differences WIth Chair • Source: Shutterstock

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.

Ex-Roche executive Hamacher who took over as CEO of the biosimilars subsidiary, Biocon Biologics, in 2019 stepped down following “professional differences” with chairperson Kiran Mazumdar-Shaw on “strategic priorities and vision for the company”

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