Updated on 5 May 2014
The press conference also witnessed the official announcement of appointing Biocon's new CEO and joint managing director, Dr Arun Chandavarkar. However, Dr Kiran will still continue to serve as the CMD of Biocon.
Talking to BioSpectrum, Dr Chandavarkar said, "There is a focus on increasing profitability on our product portfolio through changing product mix and selecting products which are difficult-to-make. We don't want to starve one business to support the other. So there will be opportunities to sell APIs and converting APIs in to finished formulations, and we will pursue both."
Recently, there has been a shift in big pharmaceutical companies acquiring other companies. In this regard, Dr Chandavarkar opined, "In the big pharma space, companies are downsizing to ward-off the threat from patent expirations. Some companies want to focus more on their core areas. Each company is moving towards identifying their core area of work. In the generic pharma space, there is a lot of consolidation happening. Companies are getting acquired, recently for example, the acquisition of Ranbaxy by Sun Pharma."