Peter Bains News Today

Weight loss products have driven revenues in recent years for global giants like Novo Nordisk and Eli Lilly

Weight-loss drugs: Biocon Ltd. is shifting focus to anti-obesity therapies as patents for key medications expire, leading to a surge in generic supply. The Bengaluru-based company secured UK approval for the first generic version of liraglutide injectible, positioning itself as a leader in this evolving market.

The Bengaluru-based firm has scored an early win among its peers with the UK approval for the first generic version of liraglutide injectible, which is losing patent protection in November.

Biocon Ltd. is pivoting to anti-obesity therapies as patents for the blockbuster medications start to expire, unleashing a wave of generic supply for the global weight-loss market that’s expected to touch $100 billion by 2030.

"We are looking at a number of options to reduce that... I can say that youll see the debt level coming down in the coming quarters," he said. Bains, who took over as group CEO of Biocon in September, declined to comment on specific debt reduction plans or timeline.

Kedar Upadhye has been appointed as the new Chief Financial Officer (CFO) of Biocon Biologics while current CFO, M.B. Chinappa will take on a strategic finance role at Biocon Group. These leadership changes will be effective October 31, stated ...

Biocon announced that its Board of Directors has approved the appointment of Peter Bains as Group CEO,...

Upadhye will be replace current CFO MB Chinappa who will take up strategic finance role at Biocon Group and will work with Peter Bains, the recently appointed Group CEO of Biocon. The leadership changes will be effective October 31, 2023, Biocon Biologics said in a statement.

Torrent Pharmaceutical is in preliminary talks with Apollo Global Management to secure a loan of up to $1 billion to help fund a planned bid for Cipla, Reuters reported.

"Every one of our individual businesses is at an inflection point of high growth. Peter Bains, who is a veteran when it comes to the pharma and biopharma industry in terms of his global experience, also understands the Biocon Group because he has basically played a very key role in Syngene. Through Syngene, he has understood the entire Biocon business very well."