Future-proofing Biocon: Putting a succession plan in place

KIRAN MAZUMDAR-SHAW has always been seen as an iconic entrepreneur. Mazumdar-Shaw, who is widely credited with a biotech revolution in India with the around ₹20,000-crore Biocon group, is now busy preparing her company for the future. While the previous decade was about getting ready with investments that would catapult Biocon into the next phase of growth, the stage is now set for putting the strategy into action. With a hefty ₹10,000 crore invested in R&D and another ₹10,000 crore in manufacturing to prepare for future demand, Biocon is now set for the future. The next phase of growth will involve high-value biotech innovation, powered by emerging technologies like AI. Alongside, Biocon has put in place a simpler corporate structure, merged its generics and biologics businesses, and reduced debt. And in another major step, Shreehas Tambe — a long-time Biocon executive who was recruited as a management trainee by Mazumdar-Shaw — has now taken over as CEO and MD.