Will also focus on improving productivity and compliance
Sun Pharmaceutical Industries has begun the integration of Ranbaxy's business following the successful closure of the US$3.2bn merger of the two Indian pharmaceutical companies.
The integration, planned by Sun Pharma over the past 10 months, will focus on supporting strong growth.
The merger has strengthened Sun Pharma's position as the world's fifth-largest speciality generic pharmaceutical company and the top ranking Indian pharma company. The combined company's manufacturing footprint covers five continents with products sold in more than 150 countries, with a stronger presence in the US, India, Asia, Europe, South Africa, CIS & Russia and Latin America.
Sun Pharma now offers a large range of speciality and generic products and, going forward, will focus on improving productivity, compliance, quality and on sustainable growth.
The company aims to expand its R&D capabilities and global presence ‘significantly’, particularly in emerging markets; enhance its product portfolio and market depth in India, the US, and the Rest of the World; and improve its flexibility and ability to pursue partnerships and further acquisitions.
We will continue to focus on gaining the trust of the regulators globally
Sun Pharma’s Managing Director Dilip Shanghvi said the merger was ‘an important milestone in the history of Sun Pharma as we enter into a new phase of growth’.
He added: ‘We will continue to focus on gaining the trust of the regulators globally while continuing to develop products based on patient needs and leverage them to become brand leaders globally.’
Sun Pharma said it would continue to ‘carry out remediation at manufacturing units which currently deviate from cGMP norms’ after its third-quarter profit was hit by costs incurred to address observations by the US FDA after an inspection at the company’s manufacturing plant in western India.
In addition, the company aims to realise US$250m in synergies over the next three years through ‘significant value creation across all functions’.
The focus of R&D investments will be to harness multiple capabilities and technologies for developing complex products in addition to its core business of affordable generic medicines.