Bengaluru, Karnataka, India, December 2025 — Biocon Biologics Ltd. has announced that upon completion of its integration as a wholly owned subsidiary of Biocon Limited, Kedar Upadhye will assume the role of Chief Financial Officer of the combined business — no later than March 31, 2026, subject to statutory approvals. The appointment reflects the company’s commitment to disciplined financial stewardship, strategic capital management, and value creation.
Mr. Upadhye brings over 23 years of global leadership experience across corporate finance, strategy, financial planning & analysis, business finance, governance, and investor relations, accumulated at leading pharmaceutical, energy, and FMCG companies. He joined Biocon Biologics in November 2023 as CFO, where his financial acumen and strategic vision helped steer the company through complex capital markets activity. Notably, he played a key role in orchestrating a benchmark‑sized US$800 million bond issuance listed on the Singapore Exchange — among the largest by an Indian pharma company in a decade. Under his financial leadership, Biocon Biologics achieved sustainable cash flows, disciplined capital allocation, and transparent investor engagement, earning recognition for robust stewardship and business enablement.
Prior to Biocon Biologics, Upadhye served as Group CFO at ReNew Power, where he oversaw finance functions during a period of rapid expansion. Before that, he served as President & Global CFO and Head of IT at Cipla, driving global finance strategy and investor relations for a major pharmaceutical company. Earlier roles include Vice President and Head of Global Generics Finance & Investor Relations at Dr. Reddy’s Laboratories, where he managed global generics finance and led investor‑relations efforts, and senior finance roles at PepsiCo, where he began his professional journey in financial analysis and reporting. Through this varied experience, Upadhye has built a reputation for financial discipline, strategic capital management, and investor‑centric governance.
In his new capacity, Upadhye will oversee the consolidated finance function of Biocon and Biocon Biologics — ensuring financial health, strategic capital deployment, compliance with global standards, and effective investor communication — as the combined entity positions itself for growth across biosimilars, innovations, and global markets.
About Biocon Biologics / Biocon
Biocon Biologics Ltd. is a fully integrated global biosimilars organization, operating under the umbrella of Biocon Limited. The company leverages cutting-edge science, innovative technology platforms, and advanced research & development capabilities to deliver affordable biologic treatments worldwide. Its portfolio spans multiple therapeutic areas including diabetes, oncology, immunology, and other non-communicable diseases. Biocon Biologics has successfully brought several molecules from lab to market globally — including developed markets such as the United States, EU, Australia, Canada, and Japan. With a workforce of around 4,800 people, the company is deeply committed to transforming healthcare and improving lives through access, affordability, and quality.
Following the full integration with Biocon Limited, the combined business aims to build on this legacy — scaling operations, enhancing R&D capabilities, optimizing global reach, and delivering sustained shareholder value, backed by strong financial leadership and strategic governance.
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