Scienture Holdings (SCNX) CEO steps down

SCIENTURE HOLDINGS, INC. (NASDAQ: SCNX) (the “Company”), a holding company for existing and planned pharmaceutical operating companies focused on providing enhanced value to patients, physicians and caregivers through developing, bringing to market, and distributing novel specialty products to satisfy unmet market needs, today announced that Suren Ajjarapu, who has served as Chief Executive Officer (CEO) and Chairman of the Board of Directors (BOD), has stepped down from his roles with the Company, with those positions being assumed by the existing, experienced management team of Dr. Shankar Hariharan and Dr. Narasimhan Mani.

Shankar Hariharan, Ph.D - Executive Chairman of the BOD and Co-CEO

Narasimhan Mani, Ph.D., MBA – President and Co-CEO; Member of the BOD

Suren’s departure comes after several years of dedicated service to the Company, during which he led the Company through significant growth and transformation. Under his leadership, Scienture (f/k/a TRxade Health Inc.) achieved significant milestones in establishing the healthcare IT based market platforms and wholesale distribution operations. In 2024, he led the sale of the Company’s web based market platform to Micro Merchant Systems, Inc. and the completion of the reverse merger with Scienture Inc. to reposition the Company into the value added Specialty Pharmaceutical product development and commercialization space.

“This transition marks the next chapter for Scienture and I’m proud of what we’ve built over the years at the company,” said Suren Ajjarapu. “It has been an honor to lead this exceptional team, and I’m confident that the leadership of Dr. Shankar Hariharan and Dr. Narasimhan Mani will propel the company forward.”

The transition has been carefully planned to ensure continuity and strategic alignment. Dr. Hariharan and Dr. Mani both have extensive experience with the Company’s primary FDA-approved assets (Arbli and Rezenopy), as well as decades of experience in the clinical development and commercialization of pharmaceuticals. Suren Ajjarapu will remain engaged as an advisor to the Company’s board of directors.

“I am excited to take up this new role and want to thank Suren for all his contributions,” remarked Shankar Hariharan. “I look forward to lead the Company in its next phase to drive long term value creation by focusing on strong science, operational agility, and delivering value to patients and the healthcare system.”

“This is a pivotal moment for the Company and I look forward to building a strong organization that is focused on bringing to market novel therapies that provide transformative patient outcomes and delivering shareholder value,” said Narasimhan Mani. “

Shankar Hariharan was the President and CEO of Scienture Inc., prior to its merger with the Company in July 2024. He has over 35 years of experience in the pharmaceutical industry in discovery, development, clinical and regulatory operations and was involved with the development and launch of notable brand products such as Celexa^®, Lexapro^®, Namenda^® and Megace ES^®. His past experiences include leadership, executive management and board positions in several branded and specialty pharmaceutical companies. Prior to the transition to his new role, he served on the board of directors and as CEO of Scienture, LLC, which is a wholly owned subsidiary of the Company. He will continue to serve in that capacity as well.

Narasimhan Mani is an experienced healthcare professional with over 25 years of experience in the pharmaceutical industry. He has held Executive Leadership and Board positions with oversight of Commercial Operations, Portfolio Strategy, Business Development, Corporate Finance and P&L management, at small and large specialty and branded pharmaceutical companies. He has led various product development initiatives and commercial launches of well known products such as Ritalin^®, Morphelan^®, Namenda XR^® , and Nucynta ER^®. Prior to transitioning to his new role, he served as the President of Scienture, LLC, which is a wholly owned subsidiary of the Company. He will continue to serve in thay capacity as well.

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