The pharma major announced that it has appointed Abdelaziz Toumi as the chief executive officer (CEO) of its newly formed subsidiary, Lupin Manufacturing Solutions (LMS).
LMS is engaged in the development, manufacture, sale of active pharmaceutical ingredients (API) and is starting to build its contract development and manufacturing operations (CDMO) business.
The appointment of Toumi is effective from 17 June 2024 and it is not for a fixed term, Lupin said in the press release.
Toumi holds a Doctorate in Chemical Engineering and a Masters degree in Business Administration from the University of Southern Queensland.
He brings over two decades of experience in the biotech, pharma and CDMO sectors, spanning Europe, North America and Asia. He has held leadership positions at Bayer, Merck, Catalent, Lonza, and KBI Biopharma, where he was responsible for driving growth, innovation and operational excellence. Toumi will be based in Switzerland and will spend considerable time in India.
Mumbai-based Lupin is an innovation-led transnational pharmaceutical company. It develops and commercializes a wide range of branded and generic formulations, biotechnology products, and APIs in over 100 markets in the U.S., India, South Africa, and across the Asia Pacific (APAC), Latin America (LATAM), Europe, and Middle East regions.
The companys consolidated net profit tumbled 41.38% to Rs 359.43 crore on 3.64% decline in revenue from operations to Rs 4,895.11 crore in Q4 FY24 over Q4 FY23.
The scrip shed 0.09% to end Rs 1,603.85 on Friday, 14 June 2024. The market is closed today on occasion of Bakrid.
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