| | DECEMBER 20238Tata Steel appointed Akshay Khullar as the Vice President for Engineering and Projects. Additionally, Peeyush Gupta's role was restructured to Vice President for TQM group strategic procurement, and supply chain at the company."Tata Steel outlined its succession plan for senior management personnel, appointing Akshay Khullar as Vice President Engineering & Projects (Designate) from December 1, 2023, and officially as Vice President of Engineering & Projects from February 1, 2024. Meanwhile, Peeyush Gupta, the current Vice President of Group Strategic Procurement and Supply Chain, will also take on the Total Quality Management (TQM) function in addition to his existing responsibilities.As of February 1, 2024, Gupta's role will transition to Vice President of TQM, Group Strategic Procurement, and Supply Chain. The regulatory filing by Tata Steel also confirmed the forthcoming retirement of Avneesh Gupta, Vice President of TQM, and Engineering & Projects, after serving the company for over 37 years. Avneesh Gupta's tenure will conclude on February 1, 2024." Drug manufacturers are aiming to reduce their dependence on Chinese contractors involved in producing drugs for clinical trials and early-stage manufacturing. This shift is favoring competitors in India, as indicated by discussions with ten industry executives and experts. China has been the primary choice for pharmaceutical research and manufacturing services for nearly two decades due to the cost-effectiveness and swiftness offered by contract drugmakers there. Despite challenges such as the US-China trade war during the Trump administration and disruptions in supply chains faced by various industries amid the Covid-19 pandemic, this association largely remained intact. However, escalating tensions with China have led several Western governments to advise companies to diversify their supply chains to minimize exposure to the Asian powerhouse.Some biotech firms are contemplating utilizing manufacturers in India to produce active pharmaceutical ingredients (API) for clinical trials or other outsourced tasks. Tommy Erdei, Jefferies' global co-head of healthcare investment banking, highlighted a trend where companies are refraining from sending requests for proposals (RFPs) to Chinese firms due to concerns, stating, "I'm not willing to risk my product entering China, even if they can offer a cheaper solution". Dr. Ashish Nimgaonkar, the Founder of Glyscend Therapeutics, a US-based biotech company focusing on type 2 diabetes and obesity treatments in early trials, also expressed that China has become a less appealing option for their operations.Nimgaonkar mentioned Glyscend's preference for Indian contract development and manufacturing organizations (CDMOs) when issuing RFPs in later stages of medicine development. Additionally, four prominent Indian CDMOs - Syngene, Aragen Life Sciences, Piramal Pharma Solutions, and Sai Life Sciences - reported increased interest and requests from Western pharmaceutical companies, including major multinationals, this year. TATA STEEL SELLECTS AKSHAY KHULLAR AS VICE PRESIDENT FOR ENGINEERING AND PROJECTSINDIAN DRUG MANUFACTURERS GAIN BIG PHARMA INTERESTIN FOCUSIN FOCUS
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