Ex-Cipla Executive To Helm PE-Controlled JB Chemicals
The former CEO of Cipla’s India business is set to steer JB Chemicals and Pharmaceuticals, as the Indian firm embarks on a new phase of growth, backed by a revamped board, following its takeover by US private equity firm KKR.
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Gilead is closely evaluating the situation for remdesivir in India as the country tackles shortages of the drug, which has several local licensees, with instances of black marketing adding to the local woes. The US firm clearly will not want any momentum towards possible compulsory licensing as initiated by Hungary and Russia, even as Indian firms have cut prices of the antiviral.
More C-Suite level pharma executives are lending their domain expertise to private equity firms, which then use their skills for commercial due diligence on targets or in an operating partner role in portfolio companies once a deal is sealed. PEs are also increasingly opting for control deals, at least in India, with an aim to run the acquired firm professionally thereon.