Lupin appoints former executives from two major American companies, as independent directors to its board 

Drugmaker Lupin Ltd has appointed executives from two major American corporations to its board — ex-Pfizer man Jeffrey Kindler and former Eli Lilly executive Alfonso “Chito” Zulueta — as independent directors to its board.

• Also read: Lupin: Strong revival in US priced into valuations

Vinita Gupta, CEO, Lupin, said that the new appointees’ experience in building healthcare institutions and deep understanding of the evolving global pharmaceutical landscape, would help Lupin advance its growth plans.

Kindler has held leadership positions including at Pfizer, where he was Chairman and Chief Executive Officer, besides McDonald’s Corporation and General Electric Company, a note from Lupin said.

With four decades of experience, Kindler is currently CEO of Centrexion Therapeutics, a privately-held biotechnology company, Senior Advisor to Blackstone, Operating Partner at ARTIS Ventures and Global Chair of GLG Institute. He is also on the board of companies including Precigen Inc, Perrigo Pharmaceuticals and Terns Pharmaceuticals, it added.

Zulueta has spent over three decades at Eli Lilly and Company - as Vice-President of Global Marketing, President of Global Oncology and Critical Care Products and most recently, as President of International, responsible for regions outside the US and Canada. He was also a member of Eli Lilly and the company’s Executive Committee. Zulueta previously served as member of the board of the European Federation of Pharmaceutical Industries and Associations and the US-Japan Business Council, the note said.

Zulueta also serves as a Non-Executive Chairman of the board of directors of Interpharma Investments Ltd, the holding company of Zuellig Pharma, one of the largest healthcare services groups in Asia. He is also president/CEO of CZ Ventures, a company focused on start-up investments, and member of the board of directors at Glooko, CTS Corporation, and Bridge PayDay Solutions.

US market

North America accounts for 37 per cent of Lupin’s global sales – at ₹7,246 crore for the year ended March 31, 2024, up 33.8 per cent from ₹5,417 crore in FY23. In the last three months, the region continued to be the highest contributor, at 39 per cent of global sales — at ₹1,900 crore for the period up to March 31, 2024, up 22.6 per cent from ₹1,550 crore in the corresponding quarter of last year.

Lupin has received 12 ANDAs (Abbreviated New Drug Approvals) from the US FDA, and launched six products in the quarter. It has 161 generic products in the US, the company said recently.

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