Sun Pharmaceutical Industries Ltd $SUNPHARMA.NS, the largest drugmaker in India by revenue, announced a significant leadership change on Friday. Kirti Ganorkar has been appointed as managing director, effective September 1, marking a strategic evolution in the company’s executive management. Meanwhile, Dilip Shanghvi, the founding leader who has been instrumental in shaping Sun Pharma’s growth, will continue to serve as executive director and chair the board, ensuring continuity in governance.

Recently, the stocks of Indian pharmaceutical manufacturers experienced a significant downturn. The catalyst for this decline was a statement by U.S. President Donald Trump, indicating that tariffs on pharmaceutical products are still under review. This announcement led to notable shifts in the stock market, particularly affecting the pharmaceutical sector in India.