India’s prominent pharmaceutical company, Aurobindo Pharma, announced the appointment of T. Vijaya Kumar as President of the Research and Development (R&D) division specializing in Specialty Drug Delivery, effective April 5, 2024. Kumar brings with him extensive expertise, holding a Master’s in Pharmacy from Gulbarga University, Gulbarga (India), with a focus on Pharmaceutical Technology.
With nearly three decades of experience in the pharmaceutical sector, Kumar’s appointment underscores Aurobindo Pharma’s commitment to advancing its research and development capabilities.
Recognizing his dedication and contributions, Kumar was honored with the Global Desh Bandhu Gupta Spirit of Lupin Award 2022 for his commitment to excellence.
Aurobindo Pharma’s robust financial performance further underscores its growth trajectory. In the October-December quarter of the fiscal year, the company witnessed a remarkable 90.6 percent year-on-year increase in consolidated net profit, amounting to Rs 936.2 crore.
The company’s strategic investments in expansion projects are also notable, with a significant net capex of $103 million reported, including substantial allocations towards its bulk drugs PLI project. As of December 31, 2023, the total investment in the PLI project stands at $230 million, with an additional $305 million dedicated to the biosimilar project. Aurobindo Pharma’s unwavering commitment to research and development is further underscored by its substantial R&D expenditure of Rs 398 crore for the quarter.
Aurobindo Pharma’s stock showed a marginal increase on April 5, with shares closing just slightly higher by 0.01 percent at Rs 1,123.70 apiece.
Sources: moneycontrol.com