CORONA Remedies appoints four independent directors to strengthen board governance

Ameetkumar H Desai, Bhaskar V Iyer, Shirish G Belapure, and Monica H Kanuga join CORONA Remedies’ Board as Independent Directors to support long-term strategy and operational oversight

 CORONA Remedies, an India-focused pharma company backed by Sepia Investments, an affiliate of ChrysCapital, has appointed four Independent Directors to its Board of Directors. The new appointees—Ameetkumar Hiranyakumar Desai, Bhaskar Vemban Iyer, Shirish Gundopant Belapure, and Monica Hemal Kanuga—bring with them a range of experience across strategic, operational, and governance functions.

The appointments come as CORONA Remedies continues to grow within the Indian Pharmaceutical Market (IPM). The company ranks as the second fastest-growing firm among the top 30 in terms of domestic sales between MAT December 2021 and MAT December 2024.

CORONA Remedies is engaged in the development, manufacturing, and marketing of branded pharmaceutical formulations across therapeutic areas such as women’s healthcare, cardio-diabetology, pain management, and urology. The company operates two manufacturing facilities located in Gujarat and Himachal Pradesh and is in the process of commissioning a new hormone manufacturing facility in Ahmedabad, Gujarat.

As of 31 December 2024, CORONA Remedies had a workforce of 4,470 and two facilities covering an aggregate of 2.83 hectares. These facilities have a total installed formulation capacity of 1,285.44 million units annually, supported by 11 production lines.

Commenting on the development, Niravkumar Kirtikumar Mehta, Managing Director and CEO of CORONA Remedies, said, “We welcome these distinguished professionals to our Board. Their breadth of experience and strategic insight will support our mission of delivering impactful healthcare solutions and upholding high governance standards.”

Each of the new board members shared their focus areas on joining:

Ameetkumar Hiranyakumar Desai stated, “I joined the Board of CORONA Remedies, where I will contribute my experience and insights to support the Company’s growth and strategic objectives.”

Bhaskar Vemban Iyer added, “I joined the Board of CORONA Remedies committed to leveraging my industry insights to drive sustainable growth and build long-term stakeholder value. I will use my industry experience to support the Company’s sustainable growth and long-term value creation.”

Shirish Gundopant Belapure commented, “I joined the Board of CORONA Remedies and will contribute to its success through operational excellence and innovation, providing guidance on key appointments and succession planning, aligned with the Company’s long-term vision and sustainability.”

Monica Hemal Kanuga said, “I will contribute to the Board of CORONA Remedies, supporting the Company’s focus on innovation and patient-centric solutions.”

The company stated that these appointments reflect its continued efforts to align board composition with long-term business objectives and to enhance independent oversight across key functions.

ChrysCapital-backed pharma companyCORONA Remedies board appointmentsindependent directors pharmaIndian pharmaceutical industrypharmaceutical board governance
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