Mumbai, May 7: Pharma Major, Glenmark Pharmaceuticals Ltd on Tuesday said that it has appointed Dr. Yasir Rawjee as the Chief Executive Officer of Glenmark Life Sciences Ltd, its subsidiary for the API(Active Pharmaceuticals Ingredients) business.
Yasir joins Glenmark Life Sciences from Mylan Inc where most recently, he was the Head of Global API Operations. He has held positions of increasing responsibility at Mylan, including senior Vice President of API Technical Operations and Senior Vice President and Head for Sales and Marketing for the API Business, a company release said.
Yasir started his career with SmithKline Beecham Pharmaceuticals based in the USA and has been associated with GlaxoSmithKline and Matrix Laboratories Ltd. previously. He has over 25 years of experience in the pharmaceutical industry. He has a Ph.D. in Chemistry from Texas A&M University, USA and holds a degree in B.Sc.(Tech.) from UDCT Mumbai, India.
Glenmark's API business has witnessed robust growth rate of 15per cent CAGR over the last 5 years while maintaining its leadership position globally across several molecules. To provide a strategic focus to this business, Glenmark had earlier this year transferred the API business to a wholly-owned subsidiary Glenmark Life Sciences.
''We see significant growth potential in our API business given the increasing demand for good quality and sustained supply of APIs globally. With this view, we housed our API business into a separate subsidiary, which will be run independently. We are happy that Dr Yasir Rawjee will now spearhead the API unit and take it to greater heights with his rich experience both in the technical and marketing aspects of the business,''said Glenn Saldanha, Chairman and Managing Director, Glenmark Pharmaceuticals.
''Glenmark Life Sciences has built strong partnerships across the globe and has a very focused approach to further expand the API business. I am pleased to join the organization at a time when I believe I am getting an opportunity to contribute meaningfully in scaling up and shaping the next leg of growth for the API unit,'' said Dr Rawjee. UNI