Mumbai, August 1: Dilip Shanghvi, the founder and managing director (MD) Sun Pharmaceuticals, took a 99 per cent cut in his remuneration in 2018-19, even when the company’s earnings grew by 27 per cent. Wondering what is Dilip Sanghvi's salary? According to the company's annual report mentioned in a Business Standard article, Shanghvi is one of the lowest-paid CEOs in the Indian pharmaceutical sector to draw a salary of Re 1  during 2018-19.

Shanghvi is, however, all set to earn a dividend income of Rs 63.3 crore as against an income of Rs 46.1 crore in FY18. This, however, is subject to shareholder approval. What Is Mukesh Ambani’s Salary? Chairman and MD of Reliance Industries Limited Gets No Pay Hike for 11th Year in a Row.

His remuneration in 2017-18 was Rs 3.36 crore (including a salary of Rs 2.79 crore). Among his peers in the industry, Sharvil Patel, the MD of Cadila Healthcare drew a remuneration of Rs 25 crore, Nilesh Gupta, MD of Lupin had a remuneration of Rs 9 crore.

After Morgan Stanley announced a ‘double upgrade’ on India’s biggest drugmaker to ‘overweight’, Sun Pharma shares had surged last month. The company announced a regulatory filing for a drug in Japan. Sun Pharmaceutical on Thursday said it has filed an application for manufacturing and marketing authorisation of Tildrakizumab, used to treat psoriasis and psoriatic arthritis, with the Japanese health authority.

(The above story first appeared on LatestLY on Aug 01, 2019 01:53 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).