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| 1983 |
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| Sun Pharma began operations in Kolkata with five psychiatry - based products, first with two people and then with a ten employee team. Year 1 turnover - Rs. 1 million. Within a year, the marketing effort expand to cover all the eastern states of India. A compact manufacturing facility for tablets/capsules was set up at Vapi.
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| 1986 |
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| Administrative office was set up in Mumbai. Customer coverage was extended to select cities in Western India. |
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| 1987 |
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| Marketing operations were rolled out nation-wide. |
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| 1988 |
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| With the introduction of Monotrate and Angizem, the first few cardiology products were launched. We featured for the first time in a market audit by the prescription tracking company, ORG (later IMS ORG) at rank 107th with 0.1% market share. |
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| 1989 |
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| The corporate office moved to Baroda, Gujarat. Products used in gastroenterology were introduced. Exports to neighboring countries began. |
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| 1991 |
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| Construction began at the first research center SPARC (Sun Pharma Advanced Research center), with 46,000 sq ft of research space, and investments of almost the size of that year's profits. The company's turnover was Rs. 9.74 cr, and market rank 70th. |
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| 1993 |
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| SPARC, the first research center, was inaugurated by His Excellency Shri K. R. Narayanan, the Vice President of India. An office began operations in Moscow. Products were registered across 10 markets in all. |
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| 1994 |
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| After our IPO in October, we were listed on the major stock exchanges in India. The offering was oversubscribed 55 times. A dosage form plant at Silvassa started production. Major expansion at the plant was Vapi was completed. For the first time, a brand from the company, Monotrate, featured among the top 250 pharma brands in the Indian market.
A separate division, Synergy, was carved out to market Psychiatry/ Neurology products, the first of focused marketing divisions.
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| 1995 |
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| Our first API plant at Panoli started production. |
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| A new division, Azura, was begun for cardiology products. Inca, a new division to market critical care medication to intensive care units began operations. International marketing was strengthened with offices in Ukraine and Belarus. |
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| 1996 |
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| An API-manufacturing unit at Ahmednagar, the first of the our acquisitions, was bought from Knoll Pharma. An equity stake was also picked up in Gujarat Lyka Organics Ltd., a manufacturer of Cephalexin Active with a USFDA approval for the intermediate, 7ADCA. At the close of the year, we ranked 27th with 2 products among the country's top selling 300 pharma brands. Product registrations were in place across 24 countries.
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| 1997 |
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| We began the first of our international acquisitions. As part of a technology-for-equity agreement, a stake was acquired in a generic dosage form manufacturer; the Detroit-based Caraco Pharm Labs.
An equity stake was taken in MJ Pharma, a manufacturer of several dosage form lines with UK MHRA approval for Cephalexin capsules.
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| TDPL, a company with an extensive product offering (oncology, fertility, anesthesiology, pain management) was acquired, and its portfolio streamlined. TDPL's products offered a ready entry with known brands and customer equity in new high growth therapy areas like oncology and gynecology. Marketing was reorganized into 6 speciality-focused divisions. A research and development facility over 6,000 sq ft in Mumbai, our second research site, was set up to make dosage forms and create supporting technical documentation for the generic markets in North America and Europe. |
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| 1998 |
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| A basket of products, including several respiratory/asthma brands were acquired from Natco Pharma. Our new formulation plant at Silvassa commenced operations.
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| 1999 |
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| Rank moved within the top 10 in the domestic market. An ophthalmology products company, Milmet Labs, was acquired Cephalexin API manufacturer Gujarat Lyka Organics was merged with Sun Pharma. 6 brands featured among the leading 300 prescription pharma brands in India. |
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| 2000 |
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| Ranked 5th among all companies in the domestic market. Pradeep Drug company, a Chennai based API manufacturer was acquired. |
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| 2001 |
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| A new formulation plant was built in Dadra. This new plant, spread over a 5-acre site with built up area of 120,000-sq. ft. was designed and built to comply with international regulatory requirements, such as the UKMHRA and USFDA. |
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| The erstwhile TDPL division was renamed Spectra. A new division, Arian, targeting cardiologists/physicians and diabetologists, was launched. |
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| 2002 |
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| Forbes Global ranked Sun Pharma in the list of best small 200 companies for 2002 (turnover less than $500 million). |
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| Sun Pharma was selected as the best company by Express Pharma Pulse, for overall performance for 2002 (in the category A - market share over 2.5%).
4 manufacturing sites won the prestigious IDMA awards.
Work commenced on a new, state-of-the-art drug discovery campus in Baroda; this 16-acre site, with space for 600+ scientists, would be commissioned over the next two years.
Work began on a new R&D center in Mumbai, with 50,000 sq. ft. floor area for product development for the North American and European markets.
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| 2003 |
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| Forbes Global ranked Sun Pharma in the list of the best small 200 companies for 2003 (turnover less than $500million) |
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| Sun Pharma was rated amongst the best-managed companies for 2003 across all sectors. (Business Today-AT Kearney study of best-managed companies) |
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| 2004 |
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| We acquired common stock and options from 2 large shareholders of Caraco, increasing stake to over 60% from 44% at a total outlay of about $42 million. |
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| The upgraded and expanded formulation site in Halol, India (the erstwhile MJ Pharma site) received approval from USFDA, UK MHRA, South African MCC, Brazilian ANVISA and Columbian INVIMA. |
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| The BT Stern Stewart survey placed Sun Pharma among the top 20 wealth creators in India and among the top 3 wealth creators in the pharma sector. |
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| Construction at a formulation manufacturing site at Jammu was completed. |
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| Our first joint venture manufacturing unit, in Dhaka, Bangladesh was commissioned. |
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| Two of our API factories received USFDA approval, taking the total number of US FDA approved sites to three. |
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| We acquired a Cephalosporin Active manufacturer, Phlox Pharma, with European approval for cefuroxime axetil amorphous. |
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| Niche brands Ortho-Estin (estropipate) and antimigraine preparation Midrin were bought from the San Diego, US based Women-s First Healthcare. (WFHC, not listed). |
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| Forbes Global ranked Sun Pharma in the list of most valuable companies for 2004 (turnover less than $2bill). |
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| 2005 |
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| We bought a plant in Bryan, Ohio, US and the business of ICN, Hungary from Valeant Pharma. |
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| We acquired the intellectual property and assets of Able Labs from the US District Bankruptcy court in New Jersey in December 2005. |
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| Dilip Shanghvi, our CMD, received the E&Y Entrepreneur of the Year award in healthcare and life sciences for 2005. |
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| Sun Pharma was selected by Forbes amongst the best 200 companies (sales less than USD 1 billion) in Asia. |
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| 2006 |
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| We announced the demerger of innovative research and business with pipelines, people, equipment and funding, into a new company.
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| 2007 |
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| We completed the demerger of the innovative business, with requisite legal and regulatory approvals. SPARC Ltd, the new company, was listed on the stock exchanges in India, the first pure research company to be so listed. |
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| In May 2007, we, along with our subsidiaries, signed definitive agreements to acquire Taro Pharmaceutical Industries Ltd., (TAROF, Pink Sheets), a multinational generic manufacturer with established subsidiaries, manufacturing and products across the U.S., Israel, Canada for $454 mill. This all-cash deal was subject to Taro shareholder approval and requisite regulatory clearances.
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| 2008 |
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Chattem Limited
In November 2008, we along with our subsidiaries acquired 100% ownership of Chattem Chemicals, Inc., a narcotic raw material importer and manufacturer of controlled substances with an approved API facility in Tennessee. This offers vertical integration for our controlled substance dosage form business in the US. |
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| 2010 |
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| In the first week of September, the Supreme Court of Israel unanimously dismissed the appeal by Taro of the previous ruling by the Tel-Aviv District Court holding that the Israeli special tender offer (STO) rules do not apply to the Tender Offer by Suns subsidiary, Alkaloida, to purchase all outstanding Ordinary Shares of Taro. In the last week of September: we completed the acquisition of a controlling stake in Taro and increased economic interest and their voting rights. This doubles the size of our US business. |
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| 2011 |
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| Dilip Shanghvi, our CMD, received the E&Y Entrepreneur of the Year Award for 2010.
(ORG - Operations Research Group Audit of Retail Chemist Sales, later renamed the IMS - ORG Retail Store Audit. Both ORG and IMS are the trademarks of their registered owners)
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