Cipla, one of India’s leading pharmaceutical companies, announced that Subhanu Saxena, will come on board as Chief Executive Officer from February 1 next year. Saxena joins the $ 1.4 billion Cipla, founded in 1935, and a considered a thorn-in-the-side of big pharma, with products like its revolutionary cocktail of anti-retroviral medications priced at less than a dollar a day, at a time when the Indian major is consolidating its presence in key geographies. The company has made a bid for a controlling 51 per cent stake in its marketing arm in South Africa, Cipla Medpro.
Saxena comes to Cipla with rich work experience of 25+ years, having worked most recently with Novartis Pharma as well as with companies such as Citicorp, The Boston Consulting Group, and PepsiCo, across markets in Europe, North America, Africa and Asia.
In his last assignment he led the Global Product Strategy and Commercialisation functions at Novartis Pharma AG. In this role, Saxena was a part of the Global Pharma Executive Committee ($30 billion sales), with responsibility for marketing, sales, global medical affairs and health economics. He has a graduate degree in Engineering from Oxford University and an MBA from INSEAD, France.
The Board sub-committee entrusted with the search process was particularly impressed with Saxena’s work experience in diverse industries—non-pharma as well as pharma–in diverse geographies, in successfully managing large and complex profit businesses, and the culture fit with Cipla and its core values. In an immediately preceding assignment, Saxena, as CEO and Country President of Novartis Pharma UK, led a business turnaround resulting in the company’s pharma organisation becoming one of the fastest growing UK pharma businesses.
In the last one year, Cipla has staffed senior executives in some of its key business functions, verticals and geographies, including key corporate and business heads in markets such as Europe and Australia, and corporate functions such as HR, IT, Legal and Strategy. Saxena will report to the Chairman and the Board of Directors of the company.
Speaking of the appointment, Dr Yusuf K Hamied, Chairman, Cipla said, “We are delighted to have found such a good match for Cipla in Saxena. Cipla has a strong vision for the future. I am confident Saxena will build on Cipla’s core values to deliver the next phase of growth, competitiveness and return on shareholder value.”
Saxena said, “It is indeed an honour and privilege to be working for Cipla. I am looking forward to working with such a talented and committed team, under the guidance of Dr Hamied and the Board. Cipla has achieved several milestones but a wider canvas lies ahead in terms of opportunity and areas for growth”.
EP News Bureau
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