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Sun Pharma In The News

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An acquisition just for the sake of size has never been our objective


Sun Pharma will be Rs 5,000-crore company this year. When do you think will you be a Rs 10,000-crore firm?
(Laughs) I don't think we have ever looked at the business in terms of the top line. Also, I don't think that an ac'quisition just for the sake of size has everbeen our obj ective. We will continue to grow as we have in the past.
So, you will continue to focus on the US generics space?
Yes, we will file more ANDAs, includ'ing Taro. We are now at 350 plus.
We see more pharma companies merging or planning to merge their new research entities back into the parent company. How well is SPARC doing and do you have any such plans?
Dr Reddy's followed a different route because it wantedto raise money. They had private equity investment in the research business. We are not looking for PE investors in SPARC and we in'tend to leave the company listed because the underlying reason for which we separated the business, which is development of new chemical entities, is valid. It's true that shareholders will have to wait for a while.
What are your views on the Japanese market?
It is a good market, but one that you should know better to do well. We are looking at various options to see how we can participate in that market because we have not taken any specific steps. Our view is that the market is very differentfrom the US or India and, therefore, it may be better to partner someone. It could be an alliance with one partner or several.
Is the US market becoming more difficult to operate in, compared with a few years back?
It's not just the litigations, it is becoming more competitive. However, conceptually, there won't be any changes in the way we're playing the US mar'ket. Of course, we want to be efficient, enlarge the portfolio an offer an interesting product basket. As for litigation, if we feel comfortable in our understanding of law and feel it helps us, we will take that decision. Once Caraco is 100% part of Sun, we may look at some structural changes.
Would there be any changes in your strategy in the domestic market?
No, we are not adding any new products or therapy areas, we will simply push the existing range because the market itself is growing in double digits.
Did you object to the Wockhardt CDR package?
Our point of view was that bond hold'ers don't have to take a hair cut since from a hierarchy point of view, they have the first claim. So asking bond holders to accept less money than they are entitled to is not a fair position. There was no conversion of the bonds and the company defaulted. Around $20million is blocked and the matter is in court.