Nilesh Gupta to Dilip Shanghvi, most pharma CEOs took a pay cut in FY19

The CEOs' salaries also have taken a brunt. A quick analysis shows that Shanghvi took a whopping 99 per cent pay cut

As the pharmaceutical sector is going through a slow growth phase, be it in the US market or the Indian domestic market, chief executives (CEOs) of the top drug firms either have taken a pay cut or have taken home a flat package in 2018-19. 

The country’s largest drug firm, Sun Pharmaceutical Industries, which battled allegations of questionable corporate governance practices through the year, saw its founder and managing director (MD) Dilip Shanghvi took home a Rs 1 salary in FY19 apart from perquisites of Rs 262,000, a 99 per cent pay cut. This is despite Sun Pharma registering 27