 "An employee speaks on phone as he walks out of research and development centre of Sun Pharmaceutical Industries Ltd in Mumbai")
Sun Pharmaceuticals aims to enhance its presence in specialty product segment in the US.
US market contributes about 50 percent of the company's consolidated revenue and throughout the last year it has ramped up its focus on ophthalmology and dermatology segments. Last September Sun Pharmaceuticals also acquired exclusive rights to Merck's skin ailment drug which is under trial.
“Sun Pharma continues to strengthen and build leadership position in key markets and business segments. As a part of the focus towards enhancing share of specialty/branded business and targeting differentiated product offerings, the ophthalmic and OTC teams in the US have been strengthened,” the drug maker has said in its FY 15 annual report.
Sun Pharmaceuticals acquired Ranbaxy in $ 4 billion deal last year making it the largest Indian pharma company by volume. Following the merger, the company has been restructuring its business and rationalising its manufacturing footprint. While the company expects gains of $ 300 million through synergies by FY 2018, up from initial estimate of $ 250 million and is working with global consultants to help in integration its results for FY 16 are likely to remain subdued due to expenses related to integration and remedial actions to meet regulatory compliance.
“The remediation process at the erstwhile Ranbaxy facilities, which were found to be non-compliant in the past, also continues as per plan. While significant efforts to make these facilities compliant are on, this will be a time-consuming process,” company managing director Dilip Shanghvi said in his letter to shareholders.
