Sun Pharma Expects to Stabilize its India Business
After witnessing disruptions in 2017-18 die to the GST implementation, Sun Pharma an Indian multinational pharmaceutical company aims to stabilize its India business in the current fiscal with ‘reasonable volume growth’. The company sees government’s enforced price cuts and policy changes as the risk factors for the business.
Dilip Shanghvi, Managing Director, Sun Pharma, says, “We expect normalisation of the India business in 2018-19 post the disruption in 2017-18 due to GST implementation. Favourable demographics will ensure reasonable volume growth in India. We are also expecting reasonable growth in our emerging markets business, however, as always, currency fluctuations continue to be a risk.”
Sun Pharma’s India business revenues stood at 8,029 crores in 2017-18 and the company is in the process of gradually ramping up its global specialty business. Also, its specialty products are likely to be commercialized in the U.S in 2018-19. Sun Pharma also expects its R&D investments for 2018-19 to be about eight to nine percent of its revenues.
Founded in 1983, Sun Pharma provides high-quality, affordable medicines trusted by customers and patients in over 150 countries across the world. Its global presence is supported by 50 manufacturing facilities spread across five continents. Headquartered in Mumbai, Sun Pharma fosters excellence through innovation supported by strong R&D capabilities which comprises of over 2,000 scientists.
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