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Zandu Shareholders Choose Emami Group Over Parikh Family

This article was originally published in PharmAsia News

Executive Summary

Shareholders of India's Zandu Pharmaceuticals split with the controlling Parikh family and voted to sell their shares to a family rival, the Emami group that holds 24 percent of firm. The head of the stockholder group said shareholders feel the Emami should have had a role in the management the Parikh family controls. He said that with Emami involved in Zandu's operation, the shareholders would see a greater value for their stock, which the current management failed to provide. Zandu has not launched a significant new product for the past five years. (Click here for more
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