Sun Pharma
Sun Pharmaceutical Industries Ltd. (Sun Pharma) is a multinational pharmaceutical company headquartered in Mumbai, India. It 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.
History
Sun Pharma was established by Dilip Shanghvi in 1983 in Vapi 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.
Acquisitions
Over the years, Sun Pharma has made several acquisitions in the pharmaceutical industry, including Ranbaxy Laboratories in 2014, which made it the largest pharmaceutical company in India, the largest Indian pharmaceutical company in the US, and the 5th largest specialty generic company globally.
Research and Development
Sun Pharma's global presence is supported by 41 manufacturing facilities spread across 6 continents, R&D centers across the globe and a multi-cultural workforce comprising over 50,000 employees. The R&D center has capabilities for developing bio-equivalent generic drugs, novel drug delivery systems (NDDS) and new chemical entities (NCEs).
Controversies
Sun Pharma has faced several controversies, including issues related to corporate governance and insider trading allegations. In 2018, a whistleblower complaint to the Securities and Exchange Board of India (SEBI) alleged that Sun Pharma indulged in irregularities and corporate governance lapses.
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