Sun Pharmaceutical Industries Ltd. appointed Richard Ascroft as CEO of Sun Pharma North America, effective June 16. 

Ascroft succeeds Abhay Gandhi. According to a June 25 hiring announcement from the the India-based parent company Gandhi, “played a pivotal role in the growth of the Sun Pharma North America business.”

In his new position, Ascroft is responsible for advancing the Princeton-based company’s portfolio of medicines, generics, and over-the-counter products in the U.S. and Canada.  

Sun Pharma noted the new CEO will play an instrumental role in the upcoming commercial launches of new treatments for alopecia areata and squamous cell carcinoma. 

Ascroft joins Sun Pharma from Takeda Pharmaceuticals. At that company, he most recently served as senior vice president and business unit head of U.S. Plasma-Derived Therapies. Prior to his nearly 10 years with Takeda, Ascroft held several leadership positions with Eli Lilly for more than 20 years, according to his LinkedIn profile. His background spans commercial, market access, clinical development, and corporate affairs across the U.S. and global markets. 

Ascroft will report to Sun Pharma whole-time Director and Chief Operating Officer Aalok Shanghvi. 

“Richard has an extensive and impressive history of driving advancements in healthcare and implementing innovative solutions to get medicines to people in need,” Shanghvi said in a statement “As CEO of the North America business, Richard will continue delivering on our mission of improving patient outcomes and enhancing the quality of life for people across the U.S. and Canada.” 

Ascroft said he was “honored” to accept the position. He added he looks forward to “building on our strong foundation, supporting patients throughout their journey and delivering the highest quality generic and innovative medicines to the people we serve.” 

A larger home

In March, the New Jersey Economic Development Authority board approved $5.24 million in tax credits under the Emerge Program to support Sun Pharma’s new U.S. headquarters in Princeton.   

The new location at 750 College Road E. will create 220 jobs and keep hundreds of positions in-state. Sun Pharma has 230 positions at its current U.S. headquarters, also in Princeton. Additionally, the company has Garden State facilities in Cranbury and New Brunswick that employ more than 600 workers combined. 

As part of the agreement, Sun Pharma will remain in New Jersey for a minimum 11 years.

According to its website, Sun Pharma is the world’s fourth largest specialty generic pharmaceutical company. I has global revenues of $5.4 billion.