Suven Pharma Appoints Vivek Sharma As Executive Chairman

Suven Pharmaceuticals Ltd. named Vivek Sharma as the new executive Chairman of the firm, taking over the position from Vaidheesh Annaswamy according to a press release from the firm on BSE.

“This an exciting time for the contract development and manufacturing organization industry and especially for Indian players. Within this landscape, Suven, with its track record and especially its technology capabilities, is well placed to capture market tailwinds. I’m very excited to take up this role at Suven, where our work shall contribute to transforming patient lives. I look forward to being an integral part of Suven’s incredible growth journey, where we shall make a meaningful impact through innovation and collaboration.” Sharma said.

Annawswamy has decided to shift from the board, and will now be the Vice-Chair Of Suven's Advisory Council.

“Given the stage of my career, I have decided to move to an advisory role where I shall continue to contribute to Suven’s growth strategy as Vice Chair of the Advisory Council. I am glad to have Vivek as my successor. Vivek brings tremendous industry experience, and will continue the efforts I had initiated, to make Suven one of the leading tech-led diversified CDMOs," Annaswamy said in the release.

Shares of Suven Life Sciences Ltd. closed 2.96% higher at Rs 1,178.75  apiece on the BSE, compared to a 0.29% advance on the BSE Sensex.