Suketu Upadhyay Elected to Vertex Board of Directors

Rhea-AI Summary

Vertex Pharmaceuticals (NASDAQ: VRTX) has appointed Suketu Upadhyay as an independent director on its board. With over 20 years of experience in the pharmaceutical sector, Upadhyay currently serves as CFO at Zimmer Biomet. Vertex's CEO, Reshma Kewalramani, expressed enthusiasm about his strategic and financial expertise, especially as the company innovates in treating serious diseases, including cystic fibrosis. Upadhyay's addition raises the board's membership to 11, with 9 independent directors, highlighting Vertex's commitment to strong governance.

Positive

• Suketu Upadhyay brings over 20 years of pharmaceutical experience, enhancing board expertise.
• His background in financial and strategic roles may lead to improved decision-making.
• Vertex continues to focus on innovative treatments, expanding its leadership capacity.

Negative

• Concerns may arise regarding continuity in leadership during the transition.

BOSTON--(BUSINESS WIRE)-- Vertex Pharmaceuticals Incorporated (Nasdaq: VRTX) today announced that Suketu (“Suky”) Upadhyay has been elected to its board of directors as an independent director. Mr. Upadhyay is a global business executive with more than 20 years of experience in the pharmaceutical and medical technology sectors, serving in financial and strategy roles covering multiple areas of the life sciences sector. He is currently the Executive Vice President and Chief Financial Officer of Zimmer Biomet, a leading global innovator and manufacturer of orthopedic solutions, a position he has held since July 2019.

“We are delighted to have Suky join the Vertex Board. His extensive financial and strategic experience in health care, paired with his leadership and expertise across biopharma and medtech, make him a valuable addition to our board of directors,” said Reshma Kewalramani, M.D., Vertex’s Chief Executive Officer and President.

“It’s an honor to join Vertex, a company focused on serial innovation with an industry-leading track record of discovering, developing and commercializing transformative medicines to treat serious diseases. It is particularly exciting to join at such a pivotal time, when the company is in the process of transforming the treatment of multiple serious diseases, as it has done in cystic fibrosis,” said Suky Upadhyay.

Prior to joining Zimmer Biomet, Mr. Upadhyay served as Senior Vice President, Global Financial Operations at Bristol Myers Squibb (BMS), where he was responsible for strategic and operational initiatives across BMS’s supply chain, commercial operations, R&D and business development. Prior to that, he served as Executive Vice President and Chief Financial Officer of Endo International and as an executive in various global finance and strategy leadership roles at BD (Becton, Dickinson and Company) including Interim Chief Financial Officer, Chief Accounting Officer and CFO of International. In addition, Mr. Upadhyay has also held several global finance and strategy roles at AstraZeneca and Johnson & Johnson. Mr. Upadhyay holds a Bachelor of Science in finance from Albright College and an MBA from The Fuqua School of Business at Duke University.

The addition of Mr. Upadhyay brings Vertex’s board of directors to 11 members, nine of whom are independent.

About Vertex

Vertex is a global biotechnology company that invests in scientific innovation to create transformative medicines for people with serious diseases. The company has multiple approved medicines that treat the underlying cause of cystic fibrosis (CF) — a rare, life-threatening genetic disease — and has several ongoing clinical and research programs in CF. Beyond CF, Vertex has a robust pipeline of investigational small molecule, cell and genetic therapies in other serious diseases where it has deep insight into causal human biology, including sickle cell disease, beta thalassemia, APOL1-mediated kidney disease, pain, type 1 diabetes, alpha-1 antitrypsin deficiency and Duchenne muscular dystrophy.

Founded in 1989 in Cambridge, Mass., Vertex's global headquarters is now located in Boston's Innovation District and its international headquarters is in London. Additionally, the company has research and development sites and commercial offices in North America, Europe, Australia and Latin America. Vertex is consistently recognized as one of the industry's top places to work, including 12 consecutive years on Science magazine's Top Employers list and one of the 2021 Seramount (formerly Working Mother Media) 100 Best Companies. For company updates and to learn more about Vertex's history of innovation, visit www.vrtx.com or follow us on Facebook, Twitter, LinkedIn, YouTube and Instagram.

(VRTX-GEN)

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Source: Vertex Pharmaceuticals Incorporated

FAQ

Who is Suketu Upadhyay and what role will he play at Vertex Pharmaceuticals?

Suketu Upadhyay is the newly appointed independent director at Vertex Pharmaceuticals, bringing over 20 years of experience in the pharmaceutical and medical technology sectors.

How does Suketu Upadhyay's experience benefit Vertex Pharmaceuticals?

Upadhyay's extensive experience in financial and strategic roles can enhance Vertex's board dynamics and decision-making, especially in health care innovation.

What is the significance of adding Suketu Upadhyay to Vertex's board?

His addition to the board augments its independence and expertise, which is vital as Vertex pursues innovative treatments for serious diseases.

What is Vertex Pharmaceuticals known for?

Vertex is a biotechnology company recognized for its transformative medicines, particularly in treating cystic fibrosis, and is expanding its pipeline in other serious diseases.