Sun Pharma MD Dilip Shanghvi says in Q2, Sun Pharma recorded double-digit topline growth and strong margins, driven by market share gain in India, and sustained ramp-up of global specialty biz.
It seems the previous capital raised by Suzlon has been blown away and the company is going back to its existing shareholders for raising fresh capital worth ₹1,200 crore through a rights issue.
The company, set up and funded by Sun Pharma founder and MD Dilip Shanghvi’s family office, is focusing on AI-led pharma research and development, even offering tech tools to the industry for R&D.
US sales have dropped to less than a third of overall revenue from nearly half five years ago and profits have taken a beating despite cost synergies after the acquisition of Ranbaxy Laboratories.