The pharmaceutical company on Friday announced that it has appointed Srinivas Sadu as executive chairman and chief executive officer (CEO) of the company, with effect from 10 June 2024.
In a regulatory filing, the company said, Srinivas Sadu, the incumbent managing director (MD) and CEO, has been appointed as executive chairman and CEO of the company, effective 10 June 2024.
Srinivas Sadu, a seasoned professional with over two decades of experience, has been a key part of Glands journey. He assumed the role of MD and CEO on 25 April 2019, and has been instrumental in the company's growth and success. His career with the company began in 2000, and he steadily rose through the ranks to become chief operating officer in 2011, said the firm.
Gland Pharma is one of the largest and fastest growing injectable-focused companies, with a global footprint across 60 countries, including the United States, Europe, Canada, Australia, India, and other markets. It has a wide range of injectables, including vials, ampoules, pre-filled syringes, lyophilized vials, dry powders, infusions, oncology, and ophthalmic solutions. The company also pioneered Heparin technology in India.
The pharma company reported a consolidated net profit of Rs 192.42 crore in Q4 FY24, steeply higher than Rs 78.68 crore posted in Q4 FY23. Revenue from operations soared 95.85% to Rs 1,537.5 crore during the quarter as against Rs 785.01 crore recorded in Q4 FY23.
The scrip gained 1.05% to end at Rs 1,856 on the Friday, 7 June 2024.
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