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After a dream run with the Ranbaxy acquisition, Sun Pharmacheutical Industries founder Dilip Shanghvi’s fortune seems on an uptrend. Israel-based BioLight Life Sciences, in which he holds 21.45 per cent, is gearing for its India foray in the next few months, it is learnt. The medium-sized Israeli company specialises in cancer and glaucoma diagnostic products.
Keen to be present in India, BioLight was in discussion with Sun for a possible tie-up, sources said. The Israeli firm is yet to get a nod from the Indian regulator for its commercial entry.
Suzana Nahum-Zilberberg, chief executive officer of BioLight, was recently in India. According to sources, a distribution gateway in India was on Zilberberg’s agenda during her visit. She has worked for 12 years at Teva Pharma as vice-president (Asia and Pacific), driving Teva’s business into the Japanese and Chinese markets.
An email questionnaire sent to BioLight and Sun Pharma remained un-answered till the time of going to press.
While a possible arrangement between Sun Pharma and BioLight is yet to be finalised, industry sources say Shanghvi’s personal investments have been made keeping in mind the long-term dividends those could offer.
BioLight focuses on investments in small, research-oriented biotech companies. The company has a controlling stake in Micromedic Technologies, which has developed a range of cancer diagnostic tools. The other portfolio company is IOPtima, an ophthalmology specialty company. Sun has a sizeable presence in ophthalmology.
