Madan Mohan Reddy takes charge as Pharmexcil Chairman
Aurobindo Pharma’s whole time Director Madan Mohan Reddy has assumed charge as Chairman of Pharmaceuticals Export Promotion Council of India (Pharmexcil), as announced during the 65th annual meeting of Committee of Administration (CoA) in Hyderabad on Friday. He was elevated to the present post after serving for two years as Vice Chairman of Pharmexcil.
Madan Mohan Reddy, a post-graduate in organic chemistry, has more than 25 years of experience in the pharma industry. He has worked in several senior management positions in top pharma companies. For the past ten years, manufacture of formulations at Aurobindo was his forte. Prior to this, he was the Managing Director of Srichakra Remedies Ltd.
Pharmexcil will soon fill the post of Vice-Chairman from the newly elected COA members. The election process has already begun as per the new regulations of the Union Commerce Ministry. Within a month, the names of the new Vice-Chairman and the COA members from their respective segments will be announced, Dr. P V Appaji, Director General of Pharmexcil told The Dollar Business Bureau.
Speaking about the new Chairman, Appaji said, “This is the first time Pharmexcil is being chaired by a representative of a big organisation like Aurobindo which has a global presence and leads in several international markets. Under his leadership, all the Pharmexcil members will benefit from his guidance, direction, and support. The new chairman also has plans to segregate the pharma companies under small, medium and big, in order to focus better on their segment specific issues.”
Headquartered in Hyderabad, Pharmexcil was set up by the Government of India under the provision of the Foreign Trade Policy, in May 2004. It promotes the interests of the industry by organising various trade activities across the globe in association with the Central and state government bodies.
According to Pharmexcil, India’s pharma exports are likely to touch $55 billion by 2020 from the current $16.8 billion.