This is how pharma industry CEOs' pay was impacted by last fiscal’s slowdown

SUMMARY

With the pharmaceutical sector going through a slow growth phase, CEOs of the top drug firms in the country either have taken a pay cut or have taken home a flat package in last fiscal year. Here's the remuneration of India's top pharma executives

By CNBC-TV18Aug 5, 2019 4:58:28 PM IST (Updated)

Dilip Shanghvi, founder and managing director of country’s largest drug firm Sun Pharmaceutical Industries, took home Rs 1 as salary besides the perquisites of Rs 262,000, a 99 per cent pay cut. (IANS)

Following Shanghvi’s example was Lupin’s MD Nilesh Gupta who took an 80 percent year-on-year cut. The drop in income came after the firm witnessed a 32 percent fall in net profit.

However, there is an exception in the form of Dr Reddy’s Laboratories MD and co-chairman GV Prasad. After the company’s profit increased by 92 percent during the fiscal, Prasad saw his remuneration rise by 60 percent.

Cipla’s MD and CEO Umang Vohra saw his remuneration fall by 20 percent despite his salary and bonus remaining more or less unchanged compared to the previous fiscal. This was mainly owing to the reduction in the number of stock options exercised during the last fiscal after its profits rose by over 5 percent during the fiscal.

The remuneration of Cadila’s Sharvil Patel remained unchanged at Rs 25 crore a year despite the company witnessing 4 percent rise in profit.

Torrent Pharmaceutical’s Samir Mehta’s remuneration too remained unchanged at Rs 15 crore despite his firm’s net profit falling by 35 percent.