Business Daily from THE HINDU group of publications
Tuesday, Mar 13, 2007
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Business Daily from THE HINDU group of publications Tuesday, Mar 13, 2007 ePaper |
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Pharmaceuticals Corporate - People Pharma sector in throes of top-level management churn P.T. Jyothi Datta
Greener pastures With MNCs expanding operations in India and domestic companies bracing up for new challenges, opportunities are aplenty to choose from, said an industry official.
Mumbai March 12 Last week Aventis Pharma Ltd informed the BSE that Dr S. Bhattacharya had resigned from the company as Wholetime Director and Alternate Director. After over two decades with Aventis, Dr Bhattacharya is joining American drugmaker Merck in Singapore as its Chief Marketing Officer (Asia-Pacific). In the last six months, the pharmaceutical industry has seen churn in its top echelons and Dr Bhattacharya's move from Aventis Pharma, or Sanofi-Aventis as it is called after its global takeover, is the most recent. Other top-level movements in the recent past include Mr Lalit Kumar, former Executive Director with Wockhardt who has joined the fledgling Reliance Pharmaceuticals Private Ltd (part of the Mukesh Ambani group) as President and CEO. Pfizer's erstwhile Senior Medical Director Dr Shoibal Mukherjee, after 16 years with the MNC, has joined Ranbaxy as Vice-President (Medical Affairs and Clinical Research). And Wockhardt's former President (Domestic Operations), Mr Arvind Vasudeva, has joined RPG Life Sciences as Managing Director. With MNCs expanding operations in India and domestic companies bracing up for new challenges, opportunities are aplenty to choose from, said an industry official. While opportunities have been spurring the movement is some cases, in others it is the change in environment within the company that has triggered the churn, he added. Though few in number currently, cross-sectoral poaching is going to increase, with Indian drug companies attracting top officials from MNCs to propel their operations onto a global platform, an industry representative said. Another Senior Director with Pfizer, Mr K.G. Ananthakrishnan, is now President and Managing Director of Fulford. Wockhardt has gained two people from Ranbaxy: Mr Brij Khera has joined as Head of IPR and Patent issues in the US, while Mr Rajesh Sharma has joined Vice-President (Marketing), in charge of Merind, one of Wockhardt's marketing divisions. Earlier this year, Mr Hasit Joshipura assumed office as Managing Director of GlaxoSmithKline Pharmaceuticals Ltd. He was President and Executive Director (Pharmaceuticals) at Johnson & Johnson till October last year. While churn is not alien to the corporate world, the pharmaceutical industry has its peculiarities, said an analyst. The domestic drug industry is the cynosure of all eyes, with opportunities and challenges emerging after India ushered in the product patent regime in January 2005. Despite opportunities in pharmaceuticals, change has also seen people move to different sectors. One such is Unichem's Company Secretary, Mr Santosh Nair, who has moved on to joint the IT industry, an industry-watcher familiar with the development said.
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