Biocon has named Peter Bains its next CEO as the company looks to expand its presence in North America and beyond.
As part of the move, which became effective Monday, Bains will step down from Biocon’s board of directors and will report directly to Kiran Mazumdar-Shaw, the group chairperson, the company said in a Sept. 18 press release.
Bains previously led the Indian drugmaker’s contract research organization Syngene for five years, including through a public offering in 2015. After Biocon sold some of its Syngene shares in February, the company still owned a majority stake of the publicly traded company, according to an Economic Times report at the time.
With Bains' appointment, Siddharth Mittal of Biocon, Shreehas Tambe of Biocon Biologics and Jonathan Hunt of Syngene International will each continue to lead their respective units as CEOs and managing directors.
“Peter has a unique fit and profile for the role having both extensive global leadership experience and success across the biopharmaceutical field and a comprehensive understanding of the Biocon Group," Mazumdar-Shaw said in the release.
The appointment follows a period of activity by Biocon that includes the $7.7 million purchase by Biocon Generics of Eywa Pharma’s solid dosage manufacturing plant in New Jersey and the completed integration by Biocon Biologics of Viatris’ biosimilars franchise in North America.
Under the $3.3 billion Viatris deal, Biocon gained full control of Semglee, a biosimilar referencing Sanofi’s blockbuster insulin med Lantus and the first FDA-approved interchangeable biosimilar.
Biocon has previously said that the complete Viatris biosimilar portfolio could generate revenues of more than $1 billion in 2023.