Natco CEO donates Rs 15 cr worth shares to children eye research

HYDERABAD: Pharmaceutical firm Natco Pharma's founder and CEO Rajeev Nannapaneni has announced donating Rs 15 crore worth shares in favour of LV Prasad Eye Institute's (LVPEI) research foundation to find innovative approaches to tackle blindness and visual impairment in children.

Rajeev has informed the stock exchanges that he is donating by way of gift through off-market transfer of 1.5 lakh equity shares of Rs 2 each of Natco Pharma in favour LVPEI’s research foundation.

Accepting the donation, LVPEI’s founder and Chair Dr Gullapalli N Rao said, "This support will allow us to transform our efforts in children’s eye health and create a global resource centre with huge impact throughout the developing world. Millions of children will be treated by this act of generosity."

Last year, children constituted 18 per cent of the not-for-profit LVPEI’s patient profile across locations.