01 July 2015 | Analysis | By BioSpectrum Bureau
An all-growth year for Sun pharma
Mr Dilip S Shanghavi, MD, Sun Pharma
Sun Pharmaceuticals, India
Managing director: Mr Dilip S Shanghavi
Revenue: $2678.6 mn
Business: Manufacturing and marketing varied pharmaceutical formulations as branded medicines and generics
In 1983, Sun pharma began with just 5 products that treated psychiatry ailments. Today, the company is the world's fifth largest pharmaceutical company with more than 3,000 products in their portfolio serving nearly 150 global markets. Sun pharma is India's largest company by market value and has nearly 25 manufacturing sites across four continents.
Sun Pharma has grown to be the country's largest pharma company in the US market, expanding through acquisitions almost every year. In India, the company is a leader in niche therapy areas of psychiatry, neurology, cardiology, nephrology, gastroenterology, orthopaedics and ophthalmology.
Last fiscal year, has been a landmark year for Sun pharma with high global consolidated revenues The company announced the closure of its merger with Ranbaxy Laboratories and said the integration would deliver synergies worth $250 million (about Rs 1,500 crore) in three years. Announcing an operational blueprint to achieve synergies through value-creation across functions, Sun Pharma declared that it would invest about $300 million (about Rs 1,800 crore) in research and development (R&D) this year, six-seven percent of the combined revenue.
Sun's subsidiary Taro pharmaceuticals demonstrated a strong performance, compensating for the weakness in Sun's US business due to expiry of exclusivity for Novo Nordisk's anti-diabetes drug Prandin.