CEOWORLD magazine

5th Avenue, New York, NY 10001, United States
Phone: +1 3479835101
Email: info@ceoworld.biz
CEOWORLD magazine - Latest - Banking and Finance - Biocon CFO’s Departure Causes Decline in Company’s Shares

Banking and Finance

Biocon CFO’s Departure Causes Decline in Company’s Shares

Biocon Ltd. has announced the resignation of its CFO, Indranil Sen, who departed to pursue opportunities outside the organization. The company has yet to disclose Sen’s successor. Meanwhile, the company marked a notable shift in its third-quarter performance, transitioning from a loss to a considerable profit compared to the same period last year.

This turnaround is chiefly attributed to the flourishing biosimilars division and the divestment of certain non-core assets. Biocon additionally benefited from the sale of its dermatology and nephrology branded formulation businesses to Eris Lifesciences during the quarter. Furthermore, the company realized more gains by diluting its stake in its subsidiary, Bicara Therapeutics.

Although Biocon’s financial results were impressive, its shares closed 1.9% lower on Thursday. The impact of this financial upturn and the CFO’s resignation on the company’s long-term market performance remains uncertain.

 

Have you read?
Ranked: Countries with Highest (and Lowest) Rates of Infant Mortality, 2024.
Ranked: Countries That Waste the Most Food In The World, 2024.
Ranked: Countries with highest malaria death rates in the world, 2024.
Ranked: These are the countries with the highest (and lowest) death rate from malnutrition, 2024.
Revealed: 100 Best-Selling Mobile Phones of All Time.


Add CEOWORLD magazine to your Google News feed.
Follow CEOWORLD magazine headlines on: Google News, LinkedIn, Twitter, and Facebook.
Copyright 2024 The CEOWORLD magazine. All rights reserved. This material (and any extract from it) must not be copied, redistributed or placed on any website, without CEOWORLD magazine' prior written consent. For media queries, please contact: info@ceoworld.biz
CEOWORLD magazine - Latest - Banking and Finance - Biocon CFO’s Departure Causes Decline in Company’s Shares
Anna Siampani
Anna Siampani, Lifestyle Editorial Director at the CEOWORLD magazine, working with reporters covering the luxury travel, high-end fashion, hospitality, and lifestyle industries. As lifestyle editorial director, Anna oversees CEOWORLD magazine's daily digital editorial operations, editing and writing features, essays, news, and other content, in addition to editing the magazine's cover stories, astrology pages, and more. You can reach Anna by mail at anna@ceoworld.biz