CORONA Remedies appoints Ameetkumar Desai, Bhaskar Iyer, Shirish Belapure, Monica Kanuga on its Board as Independent Directors

National, June 23, 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. 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[1] 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.

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.”