Novartis India MD Sanjay Murdeshwar resigns

Written by Ruchika Sharma Published On 2024-01-27T16:00:36+05:30 | Updated On 23 March 2024 5:24 PM IST

Novartis India MD Sanjay Murdeshwar resigns

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.

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.

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

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

novartis india newsSanjay Murdeshwarresignation

Ruchika Sharma

Ruchika Sharma joined Medical Dialogue as an Correspondent for the Business Section in 2019. She covers all the updates in the Pharmaceutical field, Policy, Insurance, Business Healthcare, Medical News, Health News, Pharma News, Healthcare and Investment. She has completed her B.Com from Delhi University and then pursued postgraduation in M.Com. She can be contacted at editorial@medicaldialogues.in Contact no. 011-43720751