Sun Pharmaceutical

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Sun Pharmaceutical Industries Limited
Traded as BSE524715
Industry Pharmaceuticals
Founded 1983
Founder Dilip Shanghvi
Headquarters Mumbai, Maharashtra, India
Area served
Key people
Dilip Shanghvi
(Managing Director)
Products Pharmaceuticals, generic drugs
Revenue Increase 31,578 crore (US$4.7 billion) (Mar 2017)[1]
Increase 7,836 crore (US$1.2 billion) (Mar 2017)[1]
Total assets Increase 54,219 crore (US$8.1 billion) (Mar 2016)
Number of employees
52,700 (March 2016)[2]

Sun Pharmaceutical Industries Limited (NSESUNPHARMA, BSE524715) is an Indian multinational pharmaceutical company headquartered in Mumbai, Maharashtra that manufactures and sells pharmaceutical formulations and active pharmaceutical ingredients (APIs) primarily in India and the United States. The company offers formulations in various therapeutic areas, such as cardiology, psychiatry, neurology, gastroenterology and diabetology. It also provides APIs such as warfarin, carbamazepine, etodolac, and clorazepate, as well as anticancers, steroids, peptides, sex hormones, and controlled substances.[3]


Sun Pharmaceuticals was established by Mr. Dilip Shanghvi in 1983 in Vapi, Gujarat with five products to treat psychiatry ailments. Cardiology products were introduced in 1987 followed by gastroenterology products in 1989. Today, it is the largest chronic prescription company in India and a market leader in psychiatry, neurology, cardiology, orthopedics, ophthalmology, gastroenterology and nephrology.

The 2014 acquisition of Ranbaxy has made the company the largest pharma company in India, the largest Indian pharma company in the US, and the 5th largest specialty generic company globally.

Over 72% of Sun Pharma sales are from markets outside India, primarily in the US. The US is the single largest market, accounting for about 50% turnover; in all, formulations or finished dosage forms, account for 93% of the turnover. Manufacturing is across 26 locations, including plants in the US, Canada, Brazil, Mexico and Israel. In the US, the company markets a large basket of generics, with a strong pipeline awaiting approval from the U.S. Food and Drug Administration (FDA).[4]

Sun Pharma was listed on the stock exchange in 1994 in an issue oversubscribed 55 times. The founding family continues to hold a majority stake in the company. Today Sun Pharma is the second largest and the most profitable pharmaceutical company in India, as well as the largest pharmaceutical company by market capitalisation on the Indian exchanges.[5]

The Indian pharmaceutical industry has become the third largest producer in the world in terms of volumes and is poised to grow into an industry of $20 billion in 2015 from the current turnover of $12 billion.[citation needed] In terms of value India still stands at number 14 in the world.

In 2009 Sun Pharma's Caraco Pharmaceutical's plant in Detroit was closed due to unsanitary conditions resulting in the seizure of $20 million of drugs by the FDA for contamination issues.[6][7]

In December 2016 the FDA sent Sun a warning letter about nine violations at its manufacturing plant in Halol.[8][9][10][11]

Sun Pharma requested the USFDA to withdraw approval for 28 Abbreviated New Drug Applications (ANDAs) belonging to its wholly owned subsidiary Ranbaxy Laboratories.[12]

Acquisitions and Joint Ventures[edit]

Sun Pharma has complemented growth with select acquisitions over the last two decades. In 1996, Sun purchased a bulk drug manufacturing plant at Ahmednagar from Knoll Pharmaceuticals and MJ Pharma's dosage plant at Halol that are both U.S. FDA approved today. In 1997, Sun acquired Tamil Nadu Dadha Pharmaceuticals Limited (TDPL) based in Chennai, mainly for their extensive gynaecology and oncology brands. Also in 1997, Sun Pharma initiated their first foray into the lucrative US market with the acquisition of Caraco Pharmaceuticals, based in Detroit.

In 1998, Sun acquired a number of respiratory brands from Natco Pharma. Other notable acquisitions include Milmet Labs and Gujarat Lyka Organics (1999), Pradeep Drug Company (2000), Phlox Pharma (2004), a formulation plant at Bryan, Ohio and ICN, Hungary from Valeant Pharma and Able Labs (2005), and Chattem Chemicals (2008). In 2010, the company acquired a large stake in Taro Pharmaceuticals,[13] amongst the largest generic derma companies in the US, with operations across Canada and Israel. The company currently owns ~ 69% stake in Taro, for about $260 million.[14]

In 2011, Sun Pharma entered into a joint venture with MSD to bring complex or differentiated generics to emerging markets (other than India).

In 2012, Sun announced acquisitions of two US companies: DUSA Pharmaceuticals,[15] a dermatology device company; and generic pharma company URL Pharma [16] In 2013, the company announced an R&D joint venture for ophthalmology with the research company, Intrexon.[17]

On 6 April 2014, Sun Pharma announced that it would acquire 100% of Ranbaxy Laboratories Ltd,[18] in an all-stock transaction, valued at $4 billion. Japan's Daiichi Sankyo held 63.4% stake in Ranbaxy. After this acquisition, Sun Pharma has become the largest pharmaceutical company in India, the largest Indian Pharma company in the US, and the 5th largest generic company worldwide[19]

In December 2014, the Competition Commission of India approved Sun Pharma's $3.2 billion bid to buy Ranbaxy Laboratories, but ordered the firms to divest seven products to ensure the deal doesn't harm competition.[20][21]

In March 2015, Sun Pharma announced it had agreed to buy GlaxoSmithKline's opiates business in Australia to strengthen its pain management portfolio.[21]


In 2007, Sun Pharma demerged its innovative R&D arm, and listed it separately on the stock market as the Sun Pharma Advanced Research Company Ltd. (NSESPARC, BSE532872). In 2013, SPARC declared revenue of Rs. 873 million.[22] SPARC focuses on new chemical entities (NCE) research and new drug delivery systems and offers an annual update[23] of its pipeline (NDDS).[24]


Sun Pharma stood second in the India's Most Reputed Brands (Pharmaceutical) list [25] in a study conducted by BlueBytes,[26] a leading Media Analytics firm in association with TRA Research,[27] a brand insights organization (both a part of the Comniscient Group).

See also[edit]


  1. ^ a b "Sun Pharmaceutical Industries Consolidated Yearly Results, Sun Pharmaceutical Industries Financial Statement & Accounts". Retrieved 28 July 2017. 
  2. ^ "BUSINESS RESPONSIBILITY REPORT, 2013-14" (PDF). Retrieved 19 July 2018. 
  3. ^ "SUN PHARMACEUTICAL INDUS (SUNP:National Stock Exchange of India): Stock Quote & Company Profile - Businessweek". Retrieved 2 July 2015. 
  4. ^ [1][dead link]
  5. ^ "Sun Pharmaceutical Industries Ltds". Retrieved 19 July 2018. 
  6. ^ "Press Announcements - U.S. Marshals Seize Drug Products Manufactured by Caraco Pharmaceutical Laboratories Ltd." Retrieved 11 February 2017. 
  7. ^ "Sun Pharma To Shut Down Detroit Manufacturing Plant". Retrieved 11 February 2017. 
  9. ^ "Reuters". 13 December 2016. Retrieved 14 December 2016 – via 
  10. ^ "USFDA VIOLATION SUN PHARMA HALOL". FDA.GOV. Retrieved 19 July 2018. 
  11. ^ "Official FDA Page". U.S. Department of Health and Human Services. 17 December 2015. Retrieved 14 December 2016. 
  12. ^ "sun pharma announce withdraw anda". 20 December 2016. Retrieved 22 December 2016 – via economic times. 
  13. ^ "USA - Taro Pharmaceutical Industries". Retrieved 19 July 2018. 
  14. ^ "Corporate Website: Acquisitions". Retrieved 19 July 2018. 
  15. ^ "Sun Pharma to buy U.S.-based Dusa for $230 mln". Reuters India. Retrieved 2 July 2015. 
  16. ^ Takeda Pharmaceutical Company Limited. "Takeda to Sell Non-Colcrys URL Pharma, Inc. Generic Business to Sun Pharmaceutical". Retrieved 2 July 2015. 
  17. ^ "Investors - Newsroom - Intrexon". Retrieved 2 July 2015. 
  18. ^ Prabha Hedge. "BTvIn - Sun-Ranbaxy Deal: AP HC Green Signal". Btvin. Retrieved 2 July 2015. 
  19. ^ "Sun Pharma to buy Ranbaxy in $3.2 bn deal". timesofindia-economictimes. Retrieved 2 July 2015. 
  20. ^ "CCI clears Sun Pharma-Ranbaxy deal". Reuters India. Retrieved 2 July 2015. 
  21. ^ a b "UPDATE 1-India's Sun Pharma to buy Glaxo's opiates business in Australia". Reuters India. Retrieved 2 July 2015. 
  22. ^ "Sun Pharma Advanced Research Company Profit & Loss account, Sun Pharma Advanced Research Company Financial Statement & Accounts". Retrieved 2 July 2015. 
  23. ^ [2][dead link]
  24. ^ "SUN PHARMA ADVANCED RESEARCH COMPANY". Retrieved 2 July 2015. 
  25. ^ [3][dead link]
  26. ^ "Blue Bytes". Retrieved 19 July 2018. 
  27. ^ "TRA". Retrieved 19 July 2018. 

External links[edit]