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| 1983 |
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| Sun Pharma begins operations in Kolkata with 5 psychiatry - based products, first with 2 people and then with a 10 - employee team. Year 1 turnover - Rs. 1 million. Within a year, the marketing effort is expanded to cover all eastern states. A compact manufacturing facility for tablets/capsules is set up at Vapi. |
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| 1986 |
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| Administrative office is set up in Mumbai. Customer coverage extends to select cities in Western India. |
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| 1987 |
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| Marketing operations are rolled out nation-wide. |
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| 1988 |
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| With the launch of the brands Monotrate and Angizem, the first few cardiology products are launched. We feature for the first time in a market audit by the prescription tracking company, ORG* at rank 107th with 0.1% market share. |
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| 1989 |
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| The corporate office is shifted to Baroda, in the western state of Gujarat. Products used in gastroenterology are introduced. Exports to neighbouring countries begin. |
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| 1991 |
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| Construction begins 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 is Rs. 9.74 cr, and market rank is 70th. |
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| 1993 |
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| SPARC, the first research center, is inaugurated by His Excellency Shri K. R. Narayanan, the Vice President of India. An office is begun in Moscow. Products are now registered across 10 markets. |
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| 1994 |
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| After an IPO in October, we are listed on the major stock exchanges in India. The offering is oversubscribed 55 times. A dosage form plant at Silvassa starts production. Major expansion at the plant in Vapi is completed. For the first time, a brand from the company, Monotrate, features among the top 250 pharma brands in the Indian market. Experimenting with a focused marketing approach, a separate division, Synergy, is carved out to market Psychiatry/ Neurology products. |
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| 1995 |
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Our first API plant at Panoli starts production.
A new division, Aztec, now renamed Azura, is begun for cardiology products, with a further reallocation of products across divisions. Inca, a new division to market critical care medication to intensive care units begins operations. International marketing is 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, is bought from Knoll Pharma. An equity stake is 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 rank 27th with 2 products among the country's top selling 300 pharma brands. Product registrations are now in place across 24 countries. |
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| 1997 |
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| We begin the first of our international acquisitions. As part of a technology-for-equity agreement, a stake is acquired in a generic dosage form manufacturer; the Detroit-based Caraco Pharm Labs. An equity stake is 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) is merged with Sun Pharma. Non profitable/small generic lines and several smaller brands are dropped to rationalize the product mix. TDPL's products offer a ready entry with known brands and customer equity into new high growth therapy areas like oncology and gynecology. Marketing is reorganized once again, this time into 6 speciality-focused divisions. A research and development facility over 6,000 sq ft in Mumbai, our second research site, is established. This center is equipped 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 brands, which include several in the respiratory/asthma area, are acquired from Natco Pharma. Our new formulation plant at Silvassa commences operations. |
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| 1999 |
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| Rank moves within the top 10 in the domestic market. For a quick entry in ophthalmology, Milmet Labs is merged into Sun Pharma. The Cephalexin API manufacturer Gujarat Lyka Organics is merged with Sun Pharma.
6 brands now feature 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 on a monthly basis. Pradeep Drug company, a Chennai based API manufacturer is merged with Sun Pharma. |
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| Plans are shared to set up a new research campus in Chennai, which is later dropped as a suitable site is found in Baroda where we have an existing base. |
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| 2001 |
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| A new formulation plant is built in Dadra. This new plant is spread over a 5-acre site with built up area of 120,000-sq. ft. and has been designed and built to comply with international regulatory requirements, such as the UKMHRA and USFDA. |
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| The erstwhile TDPL division is renamed Spectra. A new division, Arian, targeting cardiologists/physicians and diabetologists, is launched. |
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| 2002 |
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| Forbes Global ranks Sun Pharma in the list of best small 200 companies for 2002 (turnover less than $500 million). |
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| Sun Pharma is selected as the best company by Express Pharma Pulse, for overall performance for 2002 (in the category A - market share over 2.5%). |
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| 4 manufacturing sites win the prestigious IDMA awards. |
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| Work commences on a new, state-of-the-art drug discovery campus in Baroda; this 16-acre site, with space for 400+ scientists on completion, will be commissioned over the next two years. |
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| Work begins on a new R&D center in Mumbai, with 50,000 sq. ft. floor area for projects aimed at the North American and European markets. |
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| 2003 |
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| Forbes Global ranks Sun Pharma in the list of the best small 200 companies for 2003 (turnover less than $500million). |
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| Sun Pharma is 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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| Sun Pharma acquires 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. By 2007, this stake has reached 75% on a diluted basis. |
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| The formulation site in Halol, India (the erstwhile MJ Pharma site) receives approval from USFDA, UK MHRA, South African MCC, Brazilian ANVISA and Columbian INVIMA. |
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| The BT Stern Stewart survey places 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 is completed. |
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Our first joint venture manufacturing unit, in Dhaka, Bangladesh is commissioned. This modern site is spread over 25,000 sq. ft.
Two of Sun Pharma's API factories receive USFDA approval, taking the total number of US FDA approved sites to three.
Sun Pharma acquires a Cephalosporin Actives manufacturer, Phlox Pharma, with European approval for cefuroxime axetil amorphous. By 2007, a formulations facility to make sterile and non sterile formulations have been built, and the API and non-sterile sections have been approved by the USFDA.
Niche brands are bought from the San Diego, US based Women's First Healthcare. (WFHC, not listed). These brands are the gynecological Ortho-Est® (estropipate), and the antimigraine preparation Midrin®.
Forbes Global ranks Sun Pharma in the list of most valuable companies for 2004 (turnover less than $2bill). |
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| 2005 |
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Sun Pharma buys a plant in Bryan, Ohio, US and the business of ICN, Hungary from Valeant Pharma.
Sun Pharma acquires the intellectual property and assets of Able Labs from the US District Bankruptcy court in New Jersey in December 2005.
Dilip Shanghvi, the CMD, receives the E&Y Entrepreneur of the Year award in healthcare and life sciences for 2005.
Sun Pharma is selected by Forbes amongst the best 200 companies (sales less than USD 1 billion) in Asia. This is the fourth time in 5 years that the company has been selected. |
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| 2006 |
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| Announced the demerger of innovative business with pipelines, people, equipment and funding, into a new company. |
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| 2007 |
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Completed the demerger of the innovative business, with requisite legal and regulatory approvals. SPARC ltd, the new company, is listed on the stock exchanges in India, the first pure research company to be so listed.
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 is subject to Taro shareholder approval and requisite regulatory clearances
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| (*ORG - Operations Research Group Audit of Retail Chemist Sales, later renamed the IMS - |
ORG Retail Store Audit, and then restructured into a stockist audit, the IMS- ORG Stockist Audit. Both ORG and IMS are the trademarks of their registered owners) |
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