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Sun Pharma

Sun Pharmaceutical (or Sun Pharmaceutical Industries Limited) is an International Pharmaceutical based in Mumbai, India. It makes many generic and brand name drugs that are distributed in the United States, Europe, Asia and worldwide. Sun manufactures both pharmaceuticals and active pharmaceutical ingredients (API), in essence, ingredients to be used in finished pharmaceutical products. Its products are in several therapeutic areas, including psychiatry, neurology, cardiology, diabetology, gastroenterology, respiratory, and orthopedics.

Type Public (BSE: 524715)
Industry Pharmaceutical
Founded Mumbai, India 1983
Headquarters Mumbai, India, India
Products Pharmaceuticals
Revenue ?Rs. 42.7 billion INR (2009)
Net income ?Rs. 18.7 billion INR (2009)
Employees 8,000 (2008)
Website www.sunpharma.com

History

Established in 1983, Sun Pharma was a start-up company with five products. Since 1996, Sun has grown largely through a combination of internal growth, and acquisition of other pharmaceutical companies. For example, it bought US-based Caraco Pharm Labs, and ICN Hungary.

A planned acquisition of Israeli Taro Pharmaceuticals initiated in March 2007 was terminated by the Taro board in May 2008; this was subsequently followed by an unsolicited tender offer in June 2008, the outcome of which remains to be determined.

As of 2008, it has grown to become an international speciality pharma company with more than 8000 employees, 19 manufacturing locations worldwide, two research centers, and a presence in 30 countries. It is one of the leading Indian-based pharma companies in India.

In 1998, the company expanded its line with the purchase of a number of brands from Natco Pharma, adding some Rs 500 million to its sales. The Natco brands gave the company new products in the gastroenterology, orthopedics, pediatrics, and other categories, as well as access to Natco’s time-release technology. Sun bought Milmet Labs, enabling the company to enter the ophthalmology products market for the first time. At the end of 2001, the company merged its MJ Pharmaceuticals subsidiary into its core operation at the beginning of 2002.

By 2002, it had boosted its bulk actives business with the purchase of Madras-based Pradeep Drug Company Ltd. In 2004, Sun acquired a Cephalosporin Actives manufacturer, Phlox Pharma, with European approval for cefuroxime axetil amorphous. Niche brands are bought from the San Diego, US based Women’s First Healthcare. In 2005, Sun bought a plant in Bryan, Ohio, US and the business of ICN, Hungary from Valeant Pharma.Sun acquired the intellectual property and assets of Able Labs from the US District Bankruptcy court in New Jersey in December 2005.In May 2007, Sun along with our subsidiaries, signed definitive agreements to acquire Taro. Pharmaceutical Industries Ltd., a multinational generic manufacturer with established subsidiaries, manufacturing and products across the U.S., Israel, and Canada for $454 million

Key Acquisitions & Rationale

Year Country Acquisition
2008 US Caraco acquired some products of Forest’s Inwood business
2008 Tennessee, US Acquired Chattem Chemicals, Inc.
2005 New Jersey, US Assets of Able labs
2005 Ohio, US Formulation plant in Bryan
2005 Hungary Acquired ICN Hungary
2004 US Women’s Health Brands
2004 Baroda, India Merged Phlox Pharma
2000 Chennai, India Merged Pradeep Drug Company Ltd (PDCL)
1999 India Merged Milmet Labs
1998 India Brands from Natco
1997 Detroit, US Acquired Caraco
1997 Chennai, India Merged Tamilnadu Dadha Pharmaceuticals Ltd (TDPL)
1996 Halol, India Acquired MJ Pharma
1996 Ankleshwar, India Acquired Gujarat Lyka
1996 Ahmednagar, India Bulk Drug plant from Knoll Pharma
September 5, 2010

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