Samina is the niece of Cipla non-executive chairman YK Hamied, and daughter of his brother and non-executive vice-chairman, MK Hamied. The company said she would continue as a non-executive director.
A successful deal will take Torrent Pharma to the second-largest company by revenues in India. In domestic formulation business, it will overtake market leader Sun Pharma.
Blackstone s bid to acquire the promoter stake in Cipla, India s third-largest drug company, highlights the fact that an integral part of India s industrial history is set to fade into museums. Cipla has been closely associated with India s struggle for independence, with Khwaja Abdul Hamied forming the company in 1935, chartered by India s most influential independence fighters, including Mahatma Gandhi and Subhash Chandra Bose.
India Business News: MUMBAI: Drug major Cipla's promoters are in talks with private equity (PE) biggies, including Blackstone, Advent and KKR, to sell a part of their hold.