ARCH PHARMALABS (USA) INC. NAMES DR. RAJ IYER AS PRESIDENT
San Francisco, CA, April 3, 2006 – Arch Pharmalabs Limited, Mumbai, India, announces that effective April 15, 2006, Raj Iyer Ph.D. becomes the President of their US subsidiary, Arch Pharmalabs (USA) Inc. Dr. Iyer will lead Arch’s strategic, commercial and marketing initiatives aimed at the North American pharmaceutical and biotech sectors with a goal of building a world-class provider of active pharmaceutical ingredient and drug intermediate manufacturing services across the product life cycle and creating winning partnerships within these sectors. He will be based in the San Francisco Bay area.
In making the appointment, Ajit Kamath, Chairman and Managing Director of Arch Pharmalabs Limited, said, “Dr. Iyer brings several years of product, business development and program management experience to Arch. He has an excellent understanding of the regulatory process and industry models, and is adept at delivering cost-effective, customer-focused solutions across product life cycles from development through commercialization and genericization. We believe he will strengthen Arch’s foothold in the dynamic and innovative North American market because of his established relationships within large, specialty pharma and biotech communities.”
Prior to this new position, Dr. Iyer was the Director of Business Development at Rhodia Pharma Solutions, Inc. where he spearheaded the company’s business initiatives for the North American specialty pharmaceutical and biotech markets and significantly expanded market share, while crafting value-added deals with several well-known players in these sectors. Dr. Iyer has also been employed by Dey LP where he contributed to development of two respiratory care, niche-market 505(b)(2)-based products which generate annual sales in excess of USD 200 million. He began his professional career with Pfizer, Inc (formerly Parke-Davis Pharmaceutical Research).
“I’m excited about joining Arch,” Dr. Iyer explained. “With the emergence of India as a global scientific powerhouse and her Parliament's ratification of the WTO-sponsored Trade-Related Aspects of Intellectual Property (TRIPS) Agreement in 2005, Arch is poised to achieve global recognition as a customer-centric provider of custom active ingredient and intermediate manufacturing services across the product life cycle. We will work hard to empower our customers and partners with cost-advantaged, timely and quality-focused manufacturing solutions in support of product development, launch and line extension efforts with innovation, transparency and integrity. Arch will strive to bridge the gap between product conceptualization, development and marketing approval by helping our customers achieve more milestones / goals within finite budgets through the India Advantage and an unwavering commitment to quality and delivery.”
Dr. Iyer holds both a Bachelor of Science and a Master of Science from the University Institute of Chemical Technology in Mumbai, India. He received his Ph.D. in analytical biochemistry from George Washington University in Washington, DC. and was a Post Doctoral Research Fellow in Psychiatry & Neuroscience at Yale University School of Medicine in New Haven, CT.
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Arch Pharmalabs Limited and Arch Pharmalabs (USA)
Arch Pharmalabs is supported by a number of marquee investors, including the SwissTec Venture Capital Fund, sponsored by the Swiss government; and ICICI Venture, owned by India’s second largest bank. The company has also recently announced that an additional $40MM USD will be raised through private equity funding.
Steady growth has been demonstrated through the company’s history. Since FY02, Arch Pharmalabs has averaged approximately 60% in annual revenue growth and approximately 20% in EBITDA margin. For 2005, Arch Pharmalabs forecasts total worldwide revenues of more than $36MM USD.
Arch Pharmalabs (USA) was established in September 2005 as the company’s United States subsidiary. Arch Pharmalabs (USA) is uniquely positioned to offer the US pharmaceutical and biotech market a combination of North American market expertise and Indian research and manufacturing technology. This subsidiary office will help allow Arch Pharmalabs to enhance its status as a preferred supplier of APIs and Intermediates and grow the company’s custom synthesis business.
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For more information, please contact Raj Iyer at (707) 938-1247, or Christine Delfino-Seneca at (914) 747-1400.