Sun Pharma elevates Kirti Ganorkar as MD; Dilip Shanghvi to stay on as exec chairman
Dilip Shanghvi & Kirti Ganorkar (From left to right)
NEW DELHI:
Sun Pharma
announced that its India business head, Kirti Ganorkar will be elevated as the company's managing director to succeed the founder,
Dilip Shanghvi
, effective September 1. The move is part of a structured and forward-looking succession planning process at Sun Pharma, underscoring the organisation's commitment to leadership continuity and strategic governance, a company statement said.
Ganorkar, who has been heading the India business since June 2019, will now lead the company's entire business including all its geographies, and functions.
Shanghvi will continue to chair the board as executive chairman, while his son Aalok, who recently became the chief operating officer, has been additionally entrusted with the responsibility for the North America business.
Shanghvi, the 69-year-old founder, will focus on strengthening Sun Pharma's specialty portfolio and provide insights towards shaping the company's long-term strategy
Ganorkar's appointment is subject to shareholder approval at the upcoming annual general meeting.
He has held various leadership roles across business development, marketing, M&A, project management, IP and litigation at Sun Pharma. A chemical engineer and MBA, he joined Sun Pharma in 1996.
In another development, Abhay Gandhi – president & CEO, North America, has decided to pursue his interests outside Sun Pharma, the statement says.
Further, Richard Ascroft will be joining as CEO – North America, succeeding Gandhi.
Richard, a seasoned biopharmaceutical executive, most recently, served as senior VP and business unit head of the US plasma-derived therapies at Takeda Pharma, and was a member of both the US and global executive leadership teams.
Key Milestones under Shanghvi's tenure
1983: Sun Pharma was established
1991: First R&D Center, Sun Pharma Advanced Research Center (SPARC) set up in Gujarat
1994: Launched IPO, oversubscribed 55 times
1997: First international acquisition, Caraco Pharmaceutical Laboratories facilitated entry into US
2010: Launched first generic version cancer drug, DOXOrubicin Hydrochloride in US
2015: Acquired Ranbaxy in a $4 billion landmark transaction to become the world's 5th largest specialty generic pharma company and No. 1 in India
2018: Launched innovative product, Ilumya (tildrakizumab-asmn) in US
2022: Global revenues crossed US$5 billion
2025: Acquired Checkpoint Therapeutics, an immunotherapy and targeted oncology company, for $ 355 million
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