HYDERABAD: Hyderabad-based drug maker Gland Pharma is gearing up for overseas acquisitions. The company said in an exchange filing on Monday that it has appointed Xiao Le as Chief Investment Officer of Gland Pharma International Pte. Ltd., its wholly owned Singapore subsidiary, effective November 9.
His brief
- Identify investment opportunities in the US, China, Singapore and other international markets
- Strengthen the group's mergers and acquisitions capability
- Report to the CEO of the Singapore subsidiary
Xiao Le has more than 15 years in investment and asset management. He was earlier Senior Director of M&A and Strategic Investments at WuXi AppTec and CFO of Singapore-based MegaRobo Technologies. The company has not named any target or deal size.
In the September quarter, Gland's revenue rose 23% to ₹1,833.6 crore and net profit rose 58% to ₹290.8 crore. Deepak Sapra takes over as CEO on November 16.
