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DiRx Appoints Nagy Shagrithaya as Chief Business Officer

Monroe, New Jersey, October 20, 2020

DiRx Inc., an emerging digital health company, announced today that Nagy Shagrithaya has joined the company as its Chief Business Officer (CBO). Nagy will oversee Corporate Development, Strategic Planning, Business Development, Competitive Business Intelligence, and Financial Evaluation & Analysis supporting various corporate transactions.

Nagy has over 24 years of experience in the pharmaceutical industry, encompassing Corporate Development, Strategic Planning, Financial Evaluation & Analysis, Treasury and Business Development involving a wide variety of transactions including licensing of pipeline and commercial stage products, commercial collaborations, product supply arrangements, JVs, M&As, and capital market transactions.

Beginning his pharmaceutical career at Merck in its manufacturing divisional finance group, Nagy quickly advanced within the company to become its Regional Treasurer for the Latin America and Canada regions with responsibility for overseeing over 30 legal entities. As Regional Treasurer, he took on a special assignment to lead a cross-functional team of 30+ professionals and external advisors to implement a Latin America regional materials management hub, giving him a thorough understanding of product sourcing and supply chains, international taxation, and transfer pricing. From Treasury, he then moved to Merck's Financial Evaluation & Analysis group, initially supporting the company's business development deals in the EMEA region and then across the world.

He then joined Merck's Corporate BD group as a Transaction Manager, where he was responsible for assembling cross-functional business development deal teams, developing business case / deal structure and terms, securing internal stakeholder alignment, leading negotiations with external partners and executing contractual arrangements. Nagy worked on over 50 business development deals at Merck and closed nearly 20 of them as a Transaction Manager.

Nagy co-founded GenV Biopharma Corp., a New Jersey-based pharmaceutical company, in 2015, focused on 505(b)(2) product development and commercialization of ANDAs in niche markets with limited competition.

Nagy holds an MBA from Carnegie Mellon University, an MS in engineering from the University of Connecticut, a BE from Bangalore University, and is a Chartered Financial Analyst (CFA).

"It is my pleasure to formally welcome Nagy to our leadership team," said Satish Srinivasan, CEO of DiRx. "His unique combination of skill sets in strategic business planning, performance monitoring and deal structuring brings an essential element of solidity and balance that will help us stay on track and achieve our business outcomes."

"I am really excited to join the DiRx team of like-minded people and embark on a mission to make a difference by making prescription medicines affordable and to conveniently deliver them to consumers' homes in all 50 states," said Nagy.

About the Company

Headquartered in Monroe, New Jersey, DiRx is a new type of digital pharmacy that is designed to deliver significant savings to consumers on most commonly prescribed, FDA-approved, generic medications delivered to their doorstep on a recurring subscription model. Envisioned by a team of experienced health care leaders whose goal is to put consumers first and enhance affordability, DiRx's service will be available on a cash-only subscription basis, without insurance.

For more information:

Phone: 908.356.0764