Shares of Solara Active Pharma Sciences Ltd declined 5% in early trade on February 24, following the announcement of Managing Director (MD) and CEO Poorvank Purohit’s resignation. The stock dropped to ₹466.55, down from the previous close of ₹491.10, as investor sentiment turned cautious.
The company has appointed Sandeep Rao as its new MD and CEO, effective February 21, 2025, for a term of three years, subject to shareholder approval. Rao replaces Poorvank Purohit, who resigned due to personal reasons.
Rao brings over 25 years of experience in strategic growth, value creation, and partnership management. His recent roles include:
- CEO of Tenshi Pharma since July 2024, overseeing API business operations.
- Vice President and Head of Business Development for Emerging Markets at Viatris.
- 16 years at Biocon Group, last serving as Senior VP & Head of Insulins Business.
Additionally, Sarat Kumar has been appointed as Chief Financial Officer (CFO) and Key Managerial Personnel (KMP), replacing Arun Kumar Baskaran, who also stepped down citing personal reasons.
Kumar, a London Business School Sloan Fellow, has 18+ years of finance leadership experience across pharmaceuticals, power, oil & gas, and biologics sectors. He has previously worked at Strides Pharma Science, BioCina, Torrent Power, and Shell Plc.
