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Sun Pharma In The News

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Sun Pharma eyes $300m acquisition in US


Fresh after its long-winding but successful acquisition of Israel's Taro Pharmaceuticals, Sun Pharma is looking at another buyout. This one is expected to be upwards of $300 million and would be in the US' the largest marketfor generic companies.
The company has a war chest of $700 million, for a "meaningful and opportunist" acquisition to continue 
with its strategy of organic growth, Dilip Shanghvi, the media-shy CMD of Sun Pharma, told TOI in an exclusive interview.
Sun Pharma boasts of 16 acquisitions (including bra'nds) since the first one, Knoll Pharma's bulk drug plant in 1996. But the beginnings of the 55-year-old Shanghvi were humble.
He started the business with Rs 10,000, and proudly says that if someone had invested Rs 5,000 in his company in 1994, then that investment would be worth 200 times now (Rs 10 lakh).
"The complexity of managing a new business and integrating it with your business is more or less the same, even if the business may be small or big. With our current size, it makes sense to look at a company (or investment) with a minimum threshold of size.
So we can't look at very small companies...And will look at something like Taro's size," Shanghvi said, adding "if  it's a very large business, the ef'fort is worthwhile". But, at present the company wants to focus on improving Taro's per'formance, and on "how to make it more productive". The company is already generat'ing cash, so money can be in'vested from there, if need be.