Change Reaction ; It's been more than a year-and-a-half since Prasad Nimmagadda took the back seat at Matrix Laboratories after he sold his 12.1 per cent stake in the Hyderabad-based pharmaceutical company to Mylan Laboratories.

It's been more than a year-and-a-half since Prasad Nimmagadda took the back seat at Matrix Laboratories after he sold his 12.1 per cent stake in the Hyderabad-based pharmaceutical company to Mylan Laboratories. One of his big deals while he was still in charge of Matrix in 2005 was the $264-million (Rs 1,157 crore then) acquisition of Belgiumbased Docpharma. Back then, it was touted as the largest global M &A play by an Indian pharma company, and one that would propel a little-known Matrix into the big league.

A little less than three years on, Matrix's American owners, following the ...