Sun Pharmaceuticals News

Dilip Shanghvi Networth: Dilip Shanghvi, the visionary founder of Sun Pharmaceuticals, has extensive industrial experience in the pharmaceutical industry. Starting the company with just two employees focused on marketing and distributing medicines under his leadership, Shanghvi transformed Sun Pharmaceuticals into India’s most valuable listed pharma enterprise. Today, the company generates nearly two-thirds of its reported $5.3 billion annual revenue from international markets. In 2023, Sun Pharma marked a significant milestone by completing a $576 million acquisition of the US-based Concert Pharmaceuticals, further solidifying its global footprint. Shanghvi’s business empire now generates an impressive $5.4 billion (approximately Rs 44,971 crore) in annual revenue reportedly.

State-owned refiners BPCL, HPCL and IOC alongside a company floated by directors of drugmaker Sun Pharmaceuticals were on Wednesday declared as winners of the much-hyped small oil and gas field discovery auction.

International brokerage house Jefferies said it is positive about Sun Pharma's strong key fundamentals, though its stock plunged 15 percent Tuesday, a day after the company warned of a deeper cut in bottomline and topline this year due to ongoing integration with Ranbaxy.

The merger has fortified Sun Pharma's position as the world's fifth largest speciality generic pharmaceutical firm.

Shares of wind turbine maker Suzlon Energy today surged nearly 20 per cent, adding Rs 1,089 crore to its market value, following definitive pacts with Dilip Shanghvi Family and Associates (DSA) for equity investments of Rs 1,800 crore.

After Competition Commission of India, US fair trade watchdog FTC has asked Ranbaxy to divest one generic product as a condition for clearing its USD 4 billion deal with Sun Pharma to address monopoly concerns.