Sun Pharma to discontinue non-strategic business units
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As a part of its integration process with Ranbaxy Laboratories, Sun Pharma is likely to discontinue certain non-strategic businesses to have a smooth and sustainable transition. Sun Pharma had acquired Ranbaxy in a $4 billion deal last year.
As implied by the Sun Pharma Managing Director Dilip Shanghvi said the decision to discontinue the non-strategic part of the business is also coupled with the fact of the company’s foreseeing a loss due to integration charges. However, Sun Pharma eyes synergy benefits of $300 million (around Rs 2,000 crore) by 2017-18 from the merger.
Sun Pharma has also officially reported to the press that it expects its revenues and net profit to be adversely hit in the short term due to supply constraints at Halol facility in Gujarat and high expenses arising out of Ranbaxy integration as well as remedial actions.
Addressing the company's shareholders during the annual general meeting (AGM) on the weekend, Dilip Shanghvi said that in the near term and especially for 2015-16 fiscal, the company's overall growth in revenues and net profit will be adversely impacted due to temporary supply constraints at Halol plant.
As implied by the Sun Pharma Managing Director Dilip Shanghvi said the decision to discontinue the non-strategic part of the business is also coupled with the fact of the company’s foreseeing a loss due to integration charges. However, Sun Pharma eyes synergy benefits of $300 million (around Rs 2,000 crore) by 2017-18 from the merger.
Sun Pharma has also officially reported to the press that it expects its revenues and net profit to be adversely hit in the short term due to supply constraints at Halol facility in Gujarat and high expenses arising out of Ranbaxy integration as well as remedial actions.
Addressing the company's shareholders during the annual general meeting (AGM) on the weekend, Dilip Shanghvi said that in the near term and especially for 2015-16 fiscal, the company's overall growth in revenues and net profit will be adversely impacted due to temporary supply constraints at Halol plant.
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