National, June 24, 2025: CORONA Remedies Limited, backed by Sepia Investments Limited, an affiliate of ChrysCapital, has appointed Mr. Ameetkumar Hiranyakumar Desai, Mr. Bhaskar Vemban Iyer, Mr. Shirish Gundopant Belapure and Ms. Monica Hemal Kanuga as Independent Directors to its Board of Directors bringing in diverse expertise and experience.
CORONA Remedies Limited is an India-focused branded pharmaceutical formulation Company engaged in developing, manufacturing and marketing products in women’s healthcare, cardio-diabeto, pain management, urology and other therapeutic areas.
Mr. Ameetkumar Hiranyakumar Desai currently serves on the board of directors of Adani Aerospace and Defence Limited, Ambuja Cements Limited, Adani Defence Systems and Technologies Limited, Adani Naval Defence Systems and Technologies Limited, and JM Financial Asset Reconstruction Company Limited.
Mr. Bhaskar Vemban Iyer currently serves on the board of Cohance Lifesciences Limited, RPG Lifesciences Limited and Themis Medicare Limited. He has previously served at Abbott Healthcare Private Limited, Advent Pharma Limited and Quadria Capital.
Mr. Shirish Gundopant Belapure currently serves on the board of Innova Captab Limited, Jubilant Pharmova Limited, Jubilant Generics Limited, Natural Capsules Limited, and Uniza Lifecare Private Limited. He earlier served as Managing Director of Zydus Hospira Oncology Private Limited and President – Manufacturing (Formulations) at Zydus Lifesciences Limited apart from working at Cipla Limited, Sun Pharmaceuticals Industries Limited, M. J. Pharmaceuticals Limited, The Fairdeal Corporation (Private) Limited, Griffon Laboratoires Private Limited and Cyanamid India Limited.
Ms. Monica Hemal Kanuga is registered as an insolvency professional with the Insolvency and Bankruptcy Board of India and the Insolvency Professionals Agency, and a qualified Company Secretary from the Institute of Company Secretaries of India. She currently serves on the board of directors of Shilp Gravures Limited.
Welcoming our Independent directors, Mr. 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.”
Mr. Ameetkumar Hiranyakumar Desai, said: “I joined the Board of CORONA Remedies, where I will contribute my experience and insights to support the Company’s growth and strategic objectives.”
Mr. 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.”
Mr. Shirish Gundopant Belapure expressed by stating, 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 Company’s long-term vision and sustainability.”
Ms. Monica Hemal Kanuga stated, “I will contribute to the Board of CORONA Remedies, supporting the Company’s focus on innovation and patient-centric solutions.”
CORONA Remedies is the second fastest growing Company among the top 30 companies in the Indian Pharmaceutical Market (“IPM”) in terms of domestic sales between MAT December 2021 and MAT1 December 2024 (Source: CRISIL Intelligence Report). The Company has two manufacturing facilities, located in the states of Gujarat and Himachal Pradesh and it is in the process of commissioning a hormone manufacturing facility in Gujarat at Ahmedabad. As of December 31, 2024, it had a workforce of 4470 with two facilities which are spread over an aggregate of 2.83 hectares and have an aggregate installed capacity for formulations of 1,285.44 million units per annum, with a total of 11 production lines.
