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The Pharma Billionaires

  Pharma is on a roll. More than a fifth of   the 100 richest billionaires in India  have pharma and health care riches, among them half of the eight newcomers, such as   Hasmukh Chudgar ,  whose Intas Pharmaceuticals was recently valued by Temasek at close to $1.4 billion. Entrepreneur P. V. Ramaprasad Reddy ,  one of three returnees to the list, came back after four years on a threefold jump in shares of his Aurobindo Pharmaceuticals. Pharma also overtakes steel. Founder of Sun Pharmaceutical Industries, India’s most valuable drug company (market cap: $27 billion), becomes the country’s second-richest person, zipping past steel tycoon Lakshmi Mittal. Sun’s shares surged after it acquired scandal-tainted rival Ranbaxy Laboratories from Japan’s  Daiichi Sankyo  for $4 billion in April. Deal awaits approvals, including from the Competition Commission of India, which is examining whether it would give Sun a monopoly on some drugs. Some clouds: ...