Biocon appoints new CEO

Siddharth Mittal has taken over from Dr Arun Chandavarkar as CEO & Joint Managing Director of India-based Biocon

Siddharth Mittal

Biocon has announced that Siddharth Mittal has taken over as CEO & Joint Managing Director. Mittal has been serving as Biocon’s Chief Financial Officer (CFO) since August 2014.

Welcoming Mittal, Kiran Mazumdar-Shaw, CMD, Biocon, said, “Siddharth’s strong leadership qualities, comprehensive understanding of various aspects of the business, deep financial insights and robust operational experience make him an excellent fit for the role of CEO to lead Biocon through its next phase of growth. I am confident that in this new role he will build immense value for Biocon and its stakeholders.”

Mittal said that Biocon is “at an inflection point where it is well-positioned to create value for its shareholders by unlocking the potential of various business segments. Post the creation of Biocon Biologics as a wholly-owned subsidiary, I now look forward to generating value for our stakeholders by focusing on our Small Molecules business with an aim to further strengthen our portfolio of complex APIs and Generic Formulations in key global markets.”

In December Mittal takes over from Dr Arun Chandavarkar who retired on 30 November 2019, after 29 years at Biocon.

Mittal has been a core member of the leadership team at Biocon since May 2013 and has played an instrumental role in the biosimilars success story so far including restructuring of the biosimilars business into Biocon Biologics with an objective to unlock value for Biocon’s shareholders. He also played a pivotal role in managing global collaborations. As the CFO, he has successfully created a compelling Shareholder Value Proposition for Biocon over the last 6 years, including value unlocking of Syngene which was listed on the Indian capital markets in 2015.

He has over 20 years of global and diversified experience in the fields of general management, strategic finance and accounting, mergers and acquisitions, taxation etc.

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