Pharmaceutical company Unichem Laboratories on Monday approved the re-appointment of Dr. Prakash A Mody as the chairman and managing director of the company for a period of three years with effect from July 1, 2023, the company informed in a regulatory filing.
Dr Prakash A Mody is the son of founder promoter, Amrut Mody. He has a postgraduate degree from the University of Mumbai and a PhD in organic chemistry. He is a graduate alumnus of Harvard Business School and the former president of the Indian Pharmaceutical Alliance, the industry body representing research-based national pharmaceutical companies.He was appointed as the director of the company in 1974.
Dr. Mody has a rich and varied experience in the industry and has been at the helm of the affairs of the company for over forty years and during this period, Unichem Laboratories has achieved growth and has spread its footprints in the international markets to more than 80 countries in US, Europe, Ireland, South Africa, Brazil, etc.
Earlier last month, Unichem Laboratories posted its fiscal fourth quarter results wherein it reported a net loss of Rs 44.3 crore during the quarter as against a net profit of Rs 71.5 core in the previous year. The company’s consolidated net revenue increased by 8.7 per cent to Rs 402.1 crore against Rs 370 crore in Q4FY22. Its EBITDA margin dropped by 4.1 per cent in Q4FY23.