Sun Pharmaceutical Industries Ltd.

Sun Pharmaceutical Industries’ promoter Dilip Shanghvi has bought a minority stake in Natco Pharma for 18.34 crore. Shanghvi, among the richest men in India, bought Rs 7.25 lakh shares, or 2.6% of Natco Pharma, from Orange Mauritius Investments at Rs 253 apiece. Natco’s promoters and the promoter group own 63% of the company.

Natco Pharma, which employs 2,500 people, has five manufacturing facilities spread across India with dedicated modern research laboratories and capabilities in new drug development. It sells cancer medicines.

Sun Pharmaceutical Industries manufactures and markets a large basket of pharmaceutical formulations as branded generics as well as generics in India, US and several other markets across the world.