Biocon has appointed Peter Bains as its new CEO as the company seeks to expand its presence in North America and beyond. This leadership change took effect on Monday, and as part of the transition, Peter Bains will step down from Biocon’s board of directors. He will now report directly to Kiran Mazumdar-Shaw, the group chairperson of Biocon.
Peter Bains previously served as the head of Biocon’s contract research organization, Syngene, for five years, which included overseeing a public offering in 2015. Despite Biocon’s sale of some Syngene shares in February, the company retained a majority stake in the publicly traded Syngene, according to reports.
With the appointment of Peter Bains, the leadership structure at Biocon remains intact, with Siddharth Mittal, Shreehas Tambe, and Jonathan Hunt continuing to lead their respective units as CEOs and managing directors.
Kiran Mazumdar-Shaw praised Peter Bains, stating that he possesses a unique profile for the role due to his extensive global leadership experience in the biopharmaceutical industry and a deep understanding of the Biocon Group.
This appointment comes after a period of significant activity for Biocon, including the acquisition of Eywa Pharma’s solid dosage manufacturing plant in New Jersey by Biocon Generics for $7.7 million. Additionally, Biocon Biologics successfully integrated Viatris’ biosimilars franchise in North America.
“Biocon is entering a dynamic phase of growth for its 3 core businesses, Biocon Biologics, Biocon Generics and Syngene, and for the Group as a whole. Peter has a unique fit and profile for the role having both extensive global leadership experience and success across the biopharmaceutical field and a comprehensive understanding of the Biocon Group, having led Syngene for 5 years, taking it through its very successful IPO in 2015. I am confident that this appointment will serve the integrated business objectives of the Biocon Group of companies and deliver added value to all stakeholders.”
– Ms Kiran Mazumdar-Shaw, Biocon Group Chairperson
Through the $3.3 billion Viatris deal, Biocon gained full control of Semglee, a biosimilar referencing Sanofi’s blockbuster insulin medication, Lantus. Semglee is notably the first FDA-approved interchangeable biosimilar. Biocon has previously projected that the complete Viatris biosimilar portfolio could generate revenues exceeding $1 billion in 2023.
The appointment of Peter Bains as CEO reflects Biocon’s commitment to advancing its global presence and leveraging its strategic acquisitions and partnerships to drive growth in the biopharmaceutical industry.
