Kedar Upadhye is the new CFO of Biocon Biologics

The Board of Directors of Biocon Biologics has appointed Kedar Upadhye as the new Chief Financial Officer, effective from October 31, 2023. At the same time, the current CFO, MB Chinappa, will transition to a strategic finance role within the Biocon Group.

MB Chinappa has been the CFO of Biocon Biologics since his appointment in January 2020. He has been instrumental in securing over $500 million in private equity investments and has played a key role in the company’s significant acquisition of Viatris’ global biosimilars business in 2022, as well as its strategic vaccines partnership with the Serum Institute of India.

Chinappa, a seasoned Biocon veteran, originally joined the Biocon Group in 1999 and was an integral part of the Finance Leadership Team. He contributed to several strategic initiatives, including Biocon Limited’s successful IPO in 2004. Subsequently, he moved to Biocon’s research services subsidiary, Syngene, as the CFO in 2008, where he played a significant role in driving business strategy and growth, overseeing a successful public listing in 2015. In 2020, he took on the role of CFO at Biocon Biologics and was instrumental in establishing the finance function and driving various strategic initiatives.

Given Chinappa’s extensive understanding and experience across Biocon Group companies during his 24-year tenure, he will assume a strategic finance role and collaborate with Peter Bains, the recently appointed Group CEO of Biocon Limited.

Shreehas Tambe, CEO & Managing Director of Biocon Biologics Ltd, expressed his gratitude to Chinappa for his significant contributions and welcomed Kedar Upadhye as the new CFO. Upadhye brings over 23 years of global leadership experience in corporate finance, strategy, accounting, FP&A, business finance, governance, and investor relations. He has held senior positions at leading pharmaceutical, energy, and FMCG companies such as Cipla, Dr. Reddy’s, PepsiCo, and Thermax.

Kedar Upadhye most recently served as the Chief Financial Officer at ReNew Energy Global Plc, a NASDAQ-listed decarbonization and renewable energy company. Before that, he was the Global CFO at Cipla, where he was instrumental in enhancing the global finance footprint and driving the organization towards higher growth and superior returns.

Upadhye expressed his excitement at joining Biocon Biologics and looks forward to contributing to the company’s journey towards building a leading global biosimilar business with strong, sustainable, and profitable growth.

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