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Sterlite Group names Sumil Mathur as new group CFO
Financial veteran joins to power growth, boost strategy and energy transition
MUMBAI: Sterlite Electric, Resonia Ltd., and Serentica Renewables have announced the appointment of Sumil Mathur as group chief financial officer (group CFO).
With nearly 30 years of leadership experience, Sumil is set to steer the group’s financial strategy, governance, and capital framework. He will oversee risk management and financial transformation to fuel sustainable growth and long-term value creation across the companies.
Before joining Sterlite Group, Sumil served as CFO and COO at Emaar India Limited, where he helped shape the company’s post-demerger strategy. His tenure was marked by tighter financial discipline, value creation through asset monetisation, and building scalable project pipelines aligned with long-term objectives.
Sterlite Electric managing director and Resonia Limited and Serentica Renewables chairman Pratik Agarwal, welcomed the appointment, he said, “We are thrilled to have Sumil Mathur on board. His experience in financial leadership and complex transformations will be invaluable as we scale our platforms and strengthen foundations to support growth.”
Sumil Mathur commented, “I am excited to join the group at a time when it is playing a key role in strengthening power infrastructure and driving India’s energy transition. I look forward to working with the team to enhance financial resilience and create long-term value for stakeholders.”
Sumil’s career spans senior roles at HCL, Indus Towers, Airtel, and JCB, giving him extensive exposure across infrastructure, real estate, telecommunications, and manufacturing. His expertise covers large-scale project execution, capital planning, and aligning financial strategies with business priorities.
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Bayer sues Johnson & Johnson over prostate cancer drug advertisements
Legal dispute begins as Bayer claims rival marketing is based on flawed data
NEW YORK: Bayer has filed a federal lawsuit against Johnson & Johnson (J&J) in New York, alleging that the American pharmaceutical company has used false and misleading advertisements to promote its prostate cancer treatment, Erleada. The dispute centres on claims that Erleada is significantly more effective than Bayer’s competing drug, Nubeqa.
The legal action follows a J&J marketing campaign that cited a 51 per cent reduction in the risk of death for patients using Erleada compared to those on Nubeqa. Bayer contends that these figures are based on a study with severe methodological errors rather than a controlled clinical trial.
Bayer’s legal team argues that J&J’s real-world analysis is fundamentally flawed. According to the complaint, J&J claimed to have 24 months of patient data supporting its conclusions, even though many patients included in the study had reportedly been on the medication for only a few months, raising concerns about the reliability of long-term survival comparisons.
The lawsuit also highlights what Bayer describes as a critical approval gap. For most of the period analysed in J&J’s study, Nubeqa had not yet been approved for the specific indication being evaluated, which Bayer argues makes a direct clinical comparison inappropriate and potentially misleading.
Additionally, Bayer contends that the study suffered from significant sample imbalance. The analysis reportedly included five times as many Erleada patients as Nubeqa patients, a disparity that Bayer says introduced statistical bias and undermined the validity of the findings.
Bayer is pursuing the case under the Lanham Act, the U.S. law governing false advertising and unfair competition. The company is seeking an immediate halt to J&J’s current marketing campaign and is asking the court to require corrective statements to physicians to address what it characterises as inaccurate claims.
Furthermore, Bayer is seeking monetary damages, arguing that the alleged misleading advertisements have resulted in lost revenue and reputational harm to Nubeqa.
Johnson & Johnson has responded by stating that it stands by the integrity of its data and the rigour of its analysis. The case will now proceed through the U.S. District Court for the Southern District of New York.
