Dr. Gupta holds M.B.B.S degree from University College of Medical Sciences, Delhi University. He has over two decades of experience in pharmaceutical sector and brings with him deep experience across therapeutic areas including acute, chronic, metabolic and respiratory.

Meanwhile, the company informed that the Income Tax Department is conducting a survey at some of its offices and subsidiaries.

The pharmaco added that it is fully cooperating with the officials of the IT Department and are responding to the queries raised by them. However, there is no impact on the operations of the company.

“This is the only information that we are able to provide at this stage. Once the survey by the IT Department concludes, the company will update the stock exchanges in case of any material information/ event,” Alkem said in an exchange filing.

Alkem Laboratories is engaged in pharmaceutical business with global operations. The company is engaged in the development, manufacture and sale of pharmaceutical and nutraceutical products.

The pharmaceutical company's consolidated net profit surged 124.64% to Rs 286.73 crore on 15.19% rise in revenue from operations to Rs 2,902.6 crore in Q1 FY24 over Q1 FY23.

Shares of Alkem Laboratories declined 0.17% to Rs 3,697.35 on the BSE.