India’s API supplier IOLCP picks Vikas Vij as its new CEO following the exit of Dr. Sanjay Chaturvedi

INDIA – IOL Chemicals and Pharmaceuticals Limited (IOL) has selected Mr. Vikas Vij as the new Chief Executive Officer, following the departure of long-standing CEO Dr. Sanjay Chaturvedi.

The new CEO replaces Dr. Sanjay Chaturvedi, who is a seasoned global business executive with an excellent 25-year track record in the specialty chemicals and pharmaceutical industry.

This announcement was authorised by the Board of IOL Chemicals and Pharmaceuticals Limited.

Dr. Chaturvedi has stepped down from the position of Executive Director & CEO of IOLCP after his tenure ended on 3^rd April 2023.

In a press release, IOLCP said: “The Board placed on record its appreciation for the contribution made by Dr. Sanjay Chaturvedi during his tenure with the Company.”

The Board of Directors also approved the change of the designation of Mr. Vikas Gupta from Executive Director to Joint Managing Director of the Company.

Additionally, Mr. Abhiraj Gupta has been named as the Additional Director on the Board of the Company with immediate effect.

Following Dr. Chaturvedi’s resignation, Vikas Vij is expected to aid the company to bolster growth across domestic and international markets by leading IOL’s portfolio enhancement and efficiencies.

“Mr. Vikas Vij is a demonstrated leader who brings in tremendous capabilities of driving sales and scaling businesses in the pharmaceutical and specialty chemicals domains,” Vikas Gupta, the Joint Managing Director of IOL Chemicals and Pharmaceuticals, said in a statement.

As the incoming CEO of IOLCP, a generic pharmaceutical company operating in India, Vij will be responsible for driving the transformational growth of IOL in India as well as in advanced and emerging markets.

In the long term, he is projected to further cement IOL Chemicals and Pharmaceuticals Limited’s position as one of the top pharma Active Pharmaceutical Ingredients (API) and speciality chemicals manufacturers in the world.

This appointment comes as IOLCP announced the completion of its Unit 9, a multi-product manufacturing facility at the Barnala Plant site based in Punjab, India.

Vij has a techno-commercial background and is well-suited to lead the company’s vision to develop global strategic alliances with quality leaders and expand into new markets.

Commenting on his appointment, Vij said: “It is a great privilege to lead a company that is making a significant impact on people’s lives and the growth of the Indian pharmaceutical industry.”

Before his stint at IOLCP, Mr. Vij worked for some of the most renowned healthcare companies in India including Ranbaxy, GVK Biosciences, Alembic Pharmaceuticals, Sun Pharma, and Apollo Hospitals.

He also served as the Senior Vice President of API and Access Business Units at Cipla, which manufactures and distributes branded medicines, generics, and active pharmaceutical ingredients.

Moreover, Vij is a seasoned leader with close to three decades of leadership experience across the pharma value chain.

For all the latest healthcare industry news from Africa and the World, subscribe to our NEWSLETTER, and YouTube Channel, follow us on Twitter and LinkedIn, and like us on Facebook.