Pankaj Patel's Cadila Healthcare made news claiming to be first Indian pharma firm to have discovered a new combination drug for diabetics. Lipaglyn, a drug that controls both blood sugar and cholesterol levels, was developed at a cost of $250 million over 12 years. It got Indian regulatory approval in June and was launched in September. Despite the news, company's shares have fallen by nearly a fourth. Cadila's newest alliance is with German biotech firm Pieris for developing and marketing a new class of protein therapeutics. His Bombardier Challenger-604 plane was impounded for alleged evasion of customs duty.