India's richest pharma magnate's wealth is down by $1.1 billion along with a drop in shares of his Sun Pharmaceutical Industries, the world's fifth-largest generics maker. The company's profitability improved in a recent quarter partly due to U.S. sales of the generic version of Glivec, a leukemia drug made by Novartis. Earlier this year Sun acquired 14 drugs from Novartis in Japan for $293 million that will be distributed by Mitsubishi Tanabe Pharma.
Indian cricket captain M.S. Dhoni is brand ambassador for Sun's Revital H health supplement