Panchal is set to transition to a global role within the AstraZeneca Group, based in Gaithersburg, Maryland, US. The board acknowledged his resignation and placed on record its appreciation for his contributions during his tenure.
Following the recommendation of the nomination and remuneration committee, the board has approved the appointment of Praveen Rao Akkinepally as the new MD. He will take charge from 1 July 2025, for a term of three years.
Akkinepally is a senior commercial leader with over two decades of experience across the US, global markets, and India, particularly in oncology and biopharmaceuticals. He has led several brand launches and driven global commercial strategies at AstraZeneca.
His previous role as oncology business unit head for India saw significant growth in the company’s market presence and a series of successful oncology product launches.
Beyond his corporate achievements, he has contributed to healthcare policy through his work with the Federation of Indian Chambers of Commerce and Industry’s cancer round tables.
Akkinepally holds an MBA from the University of Michigan’s Ross School of Business and a master’s in public health from Johns Hopkins University.
AstraZeneca is a global biopharmaceutical company focused on the discovery, development, and commercialization of prescription medicines in four areas: Oncology, Cardiovascular, Renal & Metabolism, and Respiratory & Rare Diseases. It operates in over 100 countries.
The company's standalone net profit rose 47.54% to Rs 58.25 crore, while revenue from operations rose 25.39% to Rs 480.48 crore in Q4 March 2025 over Q4 March 2024.