Stock Report

Zydus appoints Mr. Punit Patel as President and CEO to lead its business operations in North America

Posted On : 2023-10-16 10:43:30( TIMEZONE : IST )

Zydus appoints Mr. Punit Patel as President and CEO to lead its business operations in North America

Zydus Lifesciences Limited (including its subsidiaries/affiliates hereafter referred to as "Zydus") a discovery-driven, global lifesciences company announced the appointment of Mr. Punit Patel as President and Chief Executive Officer, Americas. He will be responsible for the business operations of all Zydus entities in North America which include generics, injectables and specialty business, rare and orphan disease portfolio and also future forays into novel therapeutics. He will be based out of the group's office in Pennington, New Jersey, U.S.

A licensed pharmacist who earned his Doctorate of Pharmacy from Massachusetts College of Pharmacy and Allied Health Sciences, Mr. Punit Patel has more than 20 years of experience in the generics and branded pharmaceutical marketplace. His deep understanding of the complex generic pharmaceutical market (specialty, 505b2, injectables & biosimilars), coupled with his people leadership and results-driven style, unlocks value by enabling long-term strategy to be translated into actionable plans.

Speaking on the development, Mr. Punit Patel said, "For two decades, Zydus has been contributing with a patient-centric approach to the healthcare spectrum in the US, addressing the twin aspects of access and affordability. I look forward to joining Zydus and creating new avenues for growth. As the company leverages its expertise across different portfolios ranging from generics to specialty business and innovation-driven novel therapeutics, it's going to be an exciting journey ahead for Zydus".

Prior to his joining Zydus, Mr. Punit Patel was the President of Red Oak Sourcing, helming a multibillion-dollar generic portfolio. He was overseeing all aspects of Red Oak's business including setting and implementing the strategic roadmap, overseeing supplier relationships, managing financial obligations, transforming company culture and collaborating with the company's stakeholders - CVS Health, Cardinal Health and OptumRx. Under his leadership, Red Oak was recognized as a Great Place to Work for the first time since its inception. Mr. Punit Patel has also worked at Novartis Vaccines & Diagnostics and CVS Caremark.

"We look forward to Punit joining our organisation," said Dr. Sharvil Patel, Managing Director, Zydus Lifesciences Ltd., "As a seasoned and successful business leader, Punit brings rich and varied experience in healthcare and pharmaceuticals to lead Zydus into the future. Building on the strong foundation that has already been laid, we hope to hone our strategic direction, build and nurture new relationships which will help Zydus grow and strengthen its presence in North America."

Shares of Zydus Lifesciences Limited was last trading in BSE at Rs. 591.65 as compared to the previous close of Rs. 593.30. The total number of shares traded during the day was 20426 in over 1028 trades.

The stock hit an intraday high of Rs. 594.00 and intraday low of 587.20. The net turnover during the day was Rs. 12062058.00.

Source : Equity Bulls


ZydusLifesciences INE010B01027 Appointment CEO NorthAmerica