The company’s board accepted the resignation of Siddharth Mittal as CEO and managing director, effective close of business hours on 31 March 2026. Mittal will transition into another leadership role within the Biocon Group and will cease to be key managerial personnel of the company.
Based on the recommendation of the nomination and remuneration committee, the board approved Tambe’s appointment as an additional director and CEO & MD for a period of five years, subject to shareholder approval. He will continue to serve as CEO and managing director of Biocon Biologics.
Tambe brings nearly three decades of experience within the Biocon Group, having joined as a management trainee and rising through various leadership roles. Under his leadership, Biocon Biologics has emerged as one of the world’s top five biosimilar companies by revenue, achieving a valuation of $5.5 billion in 2025. He played a key role in the acquisition and integration of Viatris’ biosimilars business, helping build a fully integrated global biologics enterprise. He has also led the global expansion of the insulin business, including the establishment of a large integrated insulin manufacturing facility in Malaysia. An innovator by background, Tambe is credited with 61 patents and holds a master's degree in bioprocess technology from the Institute of Chemical Technology, Mumbai.
In a parallel development, the board accepted the resignation of Mukesh Kamath as interim chief financial officer, effective 31 March 2026, as he takes on another role within the group. He will also step down as key managerial and senior management personnel.
The company has appointed Kedar Narayan Upadhye as chief financial officer with effect from 1st April 2026. Upadhye, who currently serves as CFO of Biocon Biologics, will continue in that role alongside his new responsibilities. He brings over 23 years of experience across corporate finance, strategy, and investor relations, having previously held leadership positions at companies such as Cipla, Dr Reddy’s Laboratories, PepsiCo, Thermax, and ReNew Energy Global. At Biocon Biologics, he played a key role in a landmark $800 million bond issuance listed on the Singapore Exchange, strengthening the company’s financial flexibility and investor base.
Further strengthening its leadership team, Biocon has designated Akhilesh Nand, Company Secretary of Biocon Biologics, as Head of Governance, Risk and Compliance, effective 1 April 2026. He has also been appointed as key managerial personnel and senior management personnel of the company from the same date.
Akhilesh Nand is a seasoned legal and governance professional with over 25 years of multi-industry experience. He leads global governance functions at Biocon, covering corporate secretarial, risk management, compliance, internal audit, and investigations. He has played a key role in major M&A deals, including the merger of Ranbaxy Laboratories with Sun Pharmaceuticals and Biocon’s acquisition of Viatris’ biosimilars business. Over the past decade at Biocon, he has built and strengthened its legal, risk, compliance, and audit framework, while supporting large transactions, private equity fundraises, and strategic collaborations. Nand continues to serve as Company Secretary of Biocon Biologics and is known for aligning legal strategy with business objectives and driving strong corporate governance practices
As part of broader organisational changes, the board designated Naveen Narayanan, Head of Global HR at Biocon Biologics (BBL), as the chief human resources officer of the company, effective 1 April 2026, and Mandar Shrikant Ghatnekar, Global Head of IT & Digital Transformation at BBL, as the chief technology officer, effective 1 April 2026. Both have been appointed as senior management personnel of the company from the same date. The Board also approved the cessation of certain senior management personnel, effective close of business hours on 31 March 2026.
Biocon is a global biopharma company dedicated to improving affordable access to therapies for chronic conditions such as diabetes, cancer, and autoimmune diseases.
The company's consolidated net profit surged to Rs 143.80 crore in the quarter ended December 2025 as against Rs 25.10 crore during the previous quarter ended December 2024. Sales rose 9.28% to Rs 4,123 crore in Q3 FY26 as compared with Q3 FY25.
Shares of Biocon slipped 1.88% to Rs 372.55 on the BSE.