Dilip Shanghvi's swift slide on the Indian billionaire list

From being the richest Indian two years ago, pharma baron Dilip Shanghvi has now slipped to being the sixth richest on the Bloomberg Billionaire Index, after a net worth erosion of $10.6 billion. As much as $4 billion net worth got wiped out in the past three months as the stock of his flagship company, Sun Pharma, lost one fourth of its value during this period.

In March 2015, Sun Pharma founder Dilip Shanghvi raced ahead of Mukesh Ambani to become the country's richest person with a net worth of $21.5 billion. Since then, Sun Pharma, in which he and his family owns 54.4%, has lost nearly 60% in value resulting in shrinking of the pharma baron's wealth.

The developments that led to the slide in the stock have been partly regulatory (US FDA issues at its key plant) and partly market-driven (price erosion amidst intensifying competition in the US market).

Shanghvi is now the third richest in the global healthcare industry after Ernesto Bertarelli, co-owner of specialty pharma company Stallergenes Greer Plc with a net worth of $15.5 billion, and Stefano Pessina, CEO of drugstore chain Walgreens Boots Alliance Inc, with a net worth of $13.3 billion. Shanghvi is ranked 121st on the global Bloomberg Billionaire Index and is 30th richest in the Asia-Pacific region of the Index.