Tambe takes over from Dr Arun Chandavarkar, who will continue to serve as a non-executive, non-independent director on the board of Biocon Biologics.

BBL is a unique, fully integrated, global biosimilars company committed to transforming healthcare and transforming lives by enabling affordable access to affordable biologics for millions of patients worldwide. The company has a pipeline of 20 biosimilar assets across diabetology, oncology, immunology, and other non-communicable diseases. It has many 'firsts' to its credit in the biosimilars industry. It has also signed a strategic alliance with Serum Institute Life Sciences for vaccines (subject to certain closing conditions) to address the inequitable access to lifesaving vaccines. As part of its environmental, social and governance (ESG) commitment, BBL is advancing the health of patients, people and the planet to achieve key UN Sustainable Development Goals (SDGs).

Kiran Mazumdar-Shaw, executive chairperson, Biocon & BBL, said, "I am extremely pleased that Shreehas is taking on the responsibility of leading Biocon Biologics as MD & CEO at a time when the company is gearing up for global leadership in biosimilars with the closing of the Viatris acquisition. His demonstrated track record of business success, deep technical and operational expertise provide him with proven leadership capabilities to assume this role. Shreehas will be aided by a highly experienced Executive Leadership Team in building a future-ready, world leading biosimilars player and a well-recognized global brand that is committed to impact global healthcare. I extend my best wishes to him for a successful journey ahead."

Biocon is an innovation-led, global biopharmaceutical company committed to enhancing affordable access to complex therapies for chronic conditions like diabetes, cancer and autoimmune diseases.

Biocon had reported a net profit (before exceptional items) of Rs 168 crore in Q2 FY23, down by 10% from Rs 188 crore in Q2 FY22. Revenue from operations increased by 26% YoY to Rs 2,320 crore during the quarter.

The Biocon scrip was down 1.52% at Rs 279.40 on the BSE.