Alkem Laboratories Ltd.'s Chief Executive Officer Vikas Gupta has turned in his resignation, the company informed via a regulatory filing on Friday.
"I am writing to formally resign from my position as Chief Executive Officer of Alkem Laboratories Ltd," Gupta stated in his resignation letter.
According to the filing, Gupta shall continue in his position upto June 30, 2026 for smooth transition of responsibilities, post which he will pursue new professional opportunities.
Vikas had joined Alkem from rival Cipla, where he had headed the India formulations business. Gupta holds a medical degree and a deep knowledge of the Indian market and has held previous stints in Glenmark and Ranbaxy.
Earlier reports had indicated that Gupta is being wooed by a few organisations, including a few private equity players, for a leadership role.
"This was not an easy decision, but I have decided to step down to pursue new professional opportunities that align closely with my long term professional and personal goals," Gupta mentioned in his letter.
He went on to thank his colleagues for their collaboration during "challenging times" and extended best wishes to the company for the future.
Alkem Labs Share Price
The shares of Alkem Labs ended 5.17% lower at Rs 5,235 apiece on the NSE. This compared to a 1.14% decline in the Nifty index on Friday.
The stock has fallen 5% year-to-date, but risen 0.65% in the last 12 months.
About Alkem Labs
Founded in 1973 and headquartered in Mumbai, Maharashtra, Alkem labs is one of India's largest generic and specialty pharmaceutical firms, with a strong global presence in over 40 countries and major operations in India, the US, and other markets
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