Mumbai: Darshan Patel was 45 when he sold Paras Pharmaceutical Ltd to Actis Capital for $43 million in 2006. The product is giving a tough fight to former market leaders, including Hindustan Unilever’s Axe and McNROE Consumer Products Pvt. “Naya venture to mujhe karna hi tha (I had to start a new business)," Patel said in a phone interview. Piramal sold its domestic formulations business, which manufactured, marketed and sold branded pharmaceutical products in India, Nepal and Sri Lanka in finished form, for $3.72 billion in 2010. Gautam Thapar, who sold his entire stake in Crompton Greaves’ consumer business, is also set to re-enter in the consumer space.

Source: Mint March 15, 2019 20:03 UTC