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Shanghvi steps down as Sun Pharma chairman, but to remain MD

Former Teva boss Israel Makov appointed non-executive chairman Dilip Shanghvi is known for his contrarian bets. In the 1980s, while Indian companies were hawking antibiotics and other short-term treatments to general physicians, Shanghvi started selling medicines for chronic diseases to specialists. There have been many other such instances since then. On Tuesday, he parted ways with conventional wisdom yet again by stepping down as the chairman of Sun Pharmaceut-ical Industries Ltd, India’s most valuable pharmaceuticals company. Shanghvi will, however, remain the company’s ...