Novartis India MD Sanjay Murdeshwar resigns

Published On 2024-01-27 10:30 GMT   |   Update On 2024-03-23 11:54 GMT
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Novartis India has said its vice chairman and managing director Sanjay Murdeshwar has resigned. The company's board, at its meeting on Thursday, has accepted his resignation, the drug firm said in a regulatory filing.

Murdeshwar in a letter "dated January 25, 2024, has tendered his resignation as director and employee of the company with effect from close of business hours of April 2, 2024".
"My personal and professional aspirations have evolved overtime, and I believe this is the right time to pursue a new direction for myself," Murdeshwar wrote in his letter to the board.
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Novartis India on Thursday reported a net profit of Rs 26.5 crore for the third quarter ended December 2023.
The company had reported a net profit of Rs 7.6 crore in the third quarter of 2022-23 fiscal.
Revenue from operations stood at Rs 84.5 crore while the same stood at Rs 80.1 crore in the October-December quarter of the last fiscal.

In India, Novartis has had a significant footprint since 1947. The Company have two legal entities namely, Novartis Healthcare Private Limited (NHPL) and Novartis India Limited (NIL) employing about 10,000 people.

Its rich portfolio of both innovative and established medicines address various therapeutic needs: cardiovascular, eye care, immunology, metabolic, neuroscience, oncology, respiratory and organ transplant, to meet the medical needs of patients in India.

India is amongst a handful of countries in the world that have a broad Novartis footprint covering early research, drug development, technical operations, business services and commercial operations.

Original news source: https://www.ptinews.com/story/business/novartis-india-md-sanjay-murdeshwar-resigns/1241112 

Read also: Novartis Gets CDSCO Panel nod to study antimalarial drug KLU156 with Coartem

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