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Sun’s Shanghvi Emerges as Top Drug Billionaire: Chart of the Day

Shanghvi becomes world's richest drug tycoon

Dilip Shanghvi has emerged as the world’s wealthiest drug baron, as his planned takeover of Ranbaxy Laboratories Ltd. by Sun Pharmaceutical Industries Ltd. helped add $5.3 billion to his fortune this year.

The CHART OF THE DAY tracks Sun Pharma shares, the Bloomberg Asia Pacific Pharmaceuticals Index and CNX Nifty gauge of 50 Indian companies. The drug maker gained 39 percent through July 28, compared with 23 percent for the equities benchmark and 8.5 percent by the industry measure. The lower panel shows Shanghvi’s $17.9 billion fortune overtaking those of Swiss health-care entrepreneurs Ernesto Bertarelli, who founded Serono SA and sold it to Merck KGaA in 2007, and Hansjoerg Wyss, founder of Synthes Inc., which was acquired by Johnson & Johnson in 2012.

Mumbai-based Sun Pharma is the world’s third-biggest generic drug maker by market value. The company announced April 7 it would purchase domestic competitor Ranbaxy, a unit of Japan’s Daiichi Sankyo Co. An Indian court in late April imposed a stay on the deal to study a petition alleging insider trading. The halt was removed May 24, boosting shares of the company Shanghvi founded in 1983 as mostly a supplier of drugs to treat psychiatric illnesses.

“The company is continuously performing better than expectations,” Ranjit Kapadia, an analyst at Centrum Broking Pvt. in Mumbai, said in a phone interview. “In India, they are growing at almost double the rate of the rest of the industry.”

The 2014 increase by Shanghvi, born in 1955 and raised in Kolkata, where his father ran a pharmaceutical trading company, has been exceeded by only six people this year, including Jack Ma, Mark Zuckerberg and Bill Gates, according to the Bloomberg Billionaires Index. Shanghvi was India’s second-richest person, behind Reliance Industries Ltd. Chairman Mukesh Ambani as of July 28, $200 million ahead of Tata Group’s Pallonji Shapoorji Mistry.

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