Sun Pharmaceutical News

Dilip Shanghvi founded Sun Pharmaceutical in 1982 in Vapi, Gujarat. Shanghvi was born into a Gujarati family in the small village of Amreli, Gujarat. In Kolkata, his father had a wholesale pharmaceutical business.

Shares of Sun Pharma settled 2.6 percent higher after the results and snapped six weeks of losses with a gain of 4.8 percent for the week.

Indicative time period for completion of the acquisition is before September 15, 2018, Sun Pharma said.

The company had posted a net profit after taxes, share of profit/loss of associates, joint ventures and non-controlling interests of Rs 2,033.71 crore for the same period a year ago, Sun Pharmaceutical Industries said in a filing to the BSE.

Drug major Sun Pharmaceutical Industries on Saturday said it has received a warning letter from the USFDA over violation of manufacturing norms in its facility at Halol in Gujarat.

Drug major Sun Pharmaceutical Industries on Saturday reported 46.02 percent dip in its consolidated net profit at Rs 1,106.66 crore for the second quarter ended September 30, 2015 on account of lower sales, volatile currency movements and supply constraints.

The lawsuit challenged FDA's revocation of Ranbaxy's tentative approvals for its generic versions of Nexium and Valcyte in the US.

Sun Pharmaceutical on Friday said court convened meeting of its shareholders has approved the scheme of amalgamation of Sun Pharma Global Inc with itself.

Drug majors Sun Pharmaceutical and AstraZeneca Pharma India (AZPIL) on Tuesday said they have entered into a distribution services agreement to distribute AstraZeneca's heart disease treatment drug 'Axcer' in India.

Sun Pharma, which has a market value of nearly $36 billion, is also interested in non-biotech complex generic medicine.

Shares of Sun Pharmaceutical Wednesday recovered nearly 2 percent to close at Rs 967.15 on BSE a day after the stock took a severe beating following Daiichi Sankyo selling its entire 9 percent stake in the company for Rs 20,025 crore.

The company was clarifying on speculations that Sanghvi, who holds 9.61 percent stake in Sun Pharma, had bought shares when Daiichi Sankyo exited from the Indian firm.

The company, which had forayed into the growing Indian pharmaceutical market by buying a majority stake in Ranbaxy Laboratories in 2008 for Rs 22,000 crore, sold over 21 crore shares in Sun Pharma.

Yesterday, Daiichi Sankyo Company Ltd had announced its decision to sell "the entire or part of its holdings of Sun Pharmaceutical shares..."

Japanese drug maker Daiichi Sankyo Monday said it board has approved selling a part or entire 9 percent holding worth over Rs 22,000 crore in Indian drug major Sun Pharmaceutical.

Shares of Ranbaxy Laboratories will stop trading on BSE and NSE with effect from April 6 onwards as the company is merging with Sun Pharmaceutical Industries in a USD 4 billion deal.

Shares of Ranbaxy Laboratories on Wednesday ended with strong gains on the last day of its trade, as the company is being merged with Sun Pharmaceutical in a USD 4 billion deal.

The Punjab and Haryana High Court Monday gave its nod to the merger of two Indian pharmaceutical companies - Ranbaxy Laboratories Limited with Sun Pharmaceutical Industries Limited.

Wind turbine maker Suzlon Energy has signed definitive agreements with Dilip Shanghvi Family and Associates (DSA) for equity investments of Rs 1,800 crore.

Sun Pharmaceutical Industries on Thursday slumped as much as 6 percent, heading towards its biggest single day fall since March 16, 2012.