Kedar Upadhye Appointed New CFO Of Biocon Biologics

Biocon Biologics (BBL), a subsidiary of Biocon, announced that the Board of Directors of Biocon Biologics have appointed Kedar Upadhye as the new Chief Financial Officer (CFO) and the Company’s current CFO, MB Chinappa, will transition to take on a strategic finance role at Biocon Group, the company said in a press statement on October 19th. These leadership changes will be effective from October 31, 2023, the company further informed.

MB Chinappa who served as CFO of Biocon Biologics since his appointment in January 2020 and has played an integral role in developing business strategy and enabling profitable growth, has helped secure over USD 500 million in private equity investment and was instrumental in the Company’s recent USD 3 billion acquisition of Viatris’ global biosimilars business in 2022 and its strategic vaccines partnership with the Serum Institute of India.

Shreehas Tambe, CEO and Managing Director, Biocon Biologics Ltd, said “I am delighted to welcome Kedar to Biocon Biologics. He joins us at an inflection point in our journey to become a leading global biosimilar company as we look to consolidate and unlock value in the acquired business. I am confident that he will build further on the strong 2 foundation and with his expertise and experience work closely with all stakeholders to drive growth and deliver on our business goals.”

Kedar Upadhye will be joining Biocon Biologics as CFO on 31st October 2023. He brings with him over 23 years of experience in senior global leadership roles spanning Corporate Finance, Strategy, Accounting, FP&A, Business Finance, Governance and Investor Relations at leading Pharma, Energy and FMCG players such as Cipla, Dr Reddy’s, PepsiCo, and Thermax.

Kedar Upadhye, the newly appointed CFO, Biocon Biologics, said “I would like to thank the Board of Directors and Leadership Team of Biocon Biologics for placing their trust in me and I am extremely excited to join the Company at an important point in its growth trajectory. I look forward to working with the Biocon Biologics team in an enriching journey to build a global biosimilar business which delivers strong, sustainable and profitable growth.”