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Sun Pharmaceutical Industries
BSE: 524715|NSE: SUNPHARMA|ISIN: INE044A01036|SECTOR: Pharmaceuticals
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Company History - Sun Pharmaceutical Industries
1983
 
 - The Company was incorporated as a partnership firm by Dilip Sanghvi
 & his family to manufacture pharmaceutical formulation at Vapi,
 Gujarat. It was converted into a public Ltd. Company effective 1st
 March.  The was promoted by Dilip Sanghvi.  The Company specialises
 in selected therapeutic segment to psychiatry, cardiology, neurology
 and gastroenterology.
 
 1994
 
 - The Bulk drug plant at Panoli was commissioned.  The second
 formulation plant at Silvana was commissioned in April. 
 
 - During October, the company undertook to enhance the production
 capacity of bulk drugs at Panoli from 62,000 Kgs. p.a. to 92000 Kgs.
 p.a.  Also formulation unit was to be enhanced to 1800 millions
 tablets p.a. from 570 million tablets p.a.
 
 - The Company proposed to modernise the formulation unit at Vapi and
 increase its capacity from 480 million tablets to 1440 million
 tablets p.a.  It was also proposed to set up additional facilities at
 the R&D centre SPARC.
 
 - 71,85,000 No. of equity shares issued to promoters etc.
 
 1995
 
 - In the synergy division two more products viz. `Clofranil SR and
 Syndopa CR were introduced.
 
 - The Company entered into a MOU with Knoll Pharmaceuticals Ltd.  for
 acquisition of their Ahmednagar unit manufacturing bulk drugs. 
 
 - 35,92,500 No. of equity shares allotted as bonus shares in prop
 1:2.  3,23,400 Rights shares issued at a premium of Rs 130 per
 shares.During October 1994, the capital issued 37,00,300 No. of
 equity shares of Rs 10 each at a premium of Rs 140 per share to the
 public.
 
 1996
 
 - 18 new products were launched across the company's six focused
 marketing divisions and 4 more line extension including drug delivery
 systems were launched.
 
 - The Company acquired controlling stake in MJ Pharmaceuticals Ltd.
 
 - SPIL and its group company Virtuous Finance Ltd., which are the the
 major shareholders of MJPL with more than 50 per cent of shareholding,
 had signed a MoU with erstwhile promoters the Shah family, on November
 1.
 
 1997
 
 
 - The Company acquired 78,36,000 No. of equity shares of Rs 10 each.
 
 - The Chennai based Tamil Nadu Dadha Pharmaceuticals Co. Ltd.  was
 merged with the company in the ratio of 4:1 effective 1st April. 
 With this, IDPL brings to sun pharma extensive product strengths
 across the areas of gynaecology, fertility, oncology, pain mengeners
 and
 duaesthelics.
 
 - Sunkalp Laboratories Ltd., Sun Pharma Industries Ltd., Russia & Sun
 Pharma Global Inc. are all subsidiaries of the Company. 
 
 - 4,13,633 No. of equity shares allotted to erstwhile shareholders of
 Tamil Nadu, Dadha Pharmaceuticals pursuant to a scheme of
 amalgamation.
 
 - The boards of Tamilnadu Dadha Pharmaceuticals Ltd. (TDPL) and Sun
 Pharmaceuticals Ltd. have approved a 1:4 swap ratio for the merger of
 the companies.
 
 - The company also set up a state of the art research centre named
 Sun Pharma advanced Research Centre (SPARC) in Vadodara. 
 
 - Sun Pharmaceuticals to set a new tablet manufacturing facility at
 Silvassa in Dadra and Nagar Haveli as part of its strategy to
 maximize benefits on the tax shelter front.  The new unit is expected
 to come up close to Sun's existing formulations facility at piparia in
 Silvassa.
 
 1998
 
 - During the year the company launched Duracard that not only affects
 Blood pressure but also has beneficial effect on the cholestrol
 profile and glucose metabolishm.
 
 - Another product launched was Cardivas, that has an ability to pump
 blood through the body there by reducing the strain on the heart
 during heart failure.
 
 - The company also launched Muvera, an anti inflammatory drug and
 Octapeptide Octride, an emergency medication in treating oesophagel
 varices, severe bleeding in the upper part of the gastrointestinal
 tract and also in the treatment of acromegaly an endocrine disorder
 caused by the excess growth of hormone secretion.
 
 - 2,08,000 shares of Rs. 10 each allotted to shareholders of
 erstwhile Milment Labs. Pvt. Ltd. Pursuant to a scheme of
 amalgamation.
 
 - Sun Pharmaceuticals Industries has converted its partnership export
 entity, Sun Pharma Exports, into a 100 per cent subsidiary, effective
 from 5th May.
 
 - Sun Pharma Exports, a partnership firm in which SPIL held 80 per
 cent stake, to Sunkalp Laboratories, a 100 per cent subsidiary of
 SPIL, with effect from 12th May.
 
 - In addition to this the company has set up state-of-the-art
 facilities for R&D in Baroda to carry out research in
 pharmaceuticals.
 
 1999
 
 
 - A leading Indian Company will set up a pharmaceutical plant in
 Bangladesh under a joint venture.
 
 - The hiving-off of Sun Pharmaceutical Exports into a 100 per cent
 subsidiary and increase in interest burden affected the bottomline.
 
 2000
 
 - The Company has merged its wholly owned export subsidiary Sun
 Pharma Exports with itself.
 
 - The Company is looking at an over 70 per cent growth rate in India,
 driven primarily by the company's products and education services
 segment.
 
 - As per the Scheme of Amalgamation, SPIL shall issue four equity
 shares of Rs 10 each of SPIL to the members of SPEL for every five
 equity shares held in SPEL.
 
 - The Company, on 1st April, allotted 3,08,44,466 Bonus Equity Shares
 of Rs. 10/- each, to the shaeholders of hte Company in the ratio o f 2
 Bonus Equity shares for eveyr 1 Equity share held by the shareholders
 and Bonus equity Shares will be entitled to any dividend declared
 after
 1st April.
 
 - The Company has launched Edegra (Sidenefil) in 25, 50 and 100mg.
 
 - During June 2000, the company introduced several products including
 Celact (celecoxib), Oleanz (olanzapine), Rofact (rofecoxib), Nodict
 (naltrexone), Fexotrol (fexofenadine), Zelast (azolastine) and
 (Ketorid(ketotifen).
 
 - In June 2000, Sun Pharma merged its 99.28% subsidiary - Sun
 Pharmaceuticals Exports.
 
 2001
 
 - Sun Pharmaceutical Industries Ltd has approved the merger of the
 ailing Pradeep Drug Company Ltd.
 
 - Sun Pharmaceutical Industries Ltd. is to merge its research arm Sun
 Pharmaceutical Advanced Research Centre Ltd.
 
 - During 2000-01, across the company's eight speciality divisions, 33
 new products were launched. Taking the lead for new products among the
 therapy areas were cardiology (6 products), diabetology (4) and
 opthalmology (6). Likely brand outperformers among these are the
 antihypertensive Irovel (Rapilin, Pioglit, Rezult) for antidiabetics
 and the erectile dysfunction treatment Edegra. 
 
 - The company, ranked 5th by domestic prescription product sales, has
 been consistently adding to market share from 2.47% in November 2000
 to 2.78% in November 2001 (ORG Retail Chemist Audit, November 2000
 and 2001). Forbes Global, the prestigious international magazine
 recently rated Sun Pharma among the best 200 global companies for
 2002 (turnover
 less than 0mill). 
 
 2002
 
 -Caraco Pharmaceutical Laboratories, associate of Sun
 Pharmaceuticals, has received US Food and Drug Authority (FDA)
 preliminary approval for metformin hydrochloride, a molecule used to
 treat diabetes.
 
 - Currently, the company is in process of merging Pradeep Drug
 Company (PDC) with itself. The company shareholders have approved the
 merger w.e.f. 1 April 2000. The scheme has been duly sanctioned by
 BIFR at its meeting held on Jan 2002.
            
 - Sun Pharma has made an open offer to the investors in Ahmedabad,
 Calcutta, Madras, Pondicherry and Delhi stock exchages to purchase
 the shares at price of Rs 600 per share. The offer is limited to
 those shareholders whose names are registered as members of the
 company as on 26/03/2002, the record date. 
 
 -Sun Pharmaceutical Industries has launched Lupride Depot IM, a novel
 drug delivery system of prostate cancer drug leuprolide acetate, which
 would enabel the drug to be injected once in a month as against once
 in a day or once in three days drugs.
 
 -Mr Keki Mistry, Managing Director of HDFC, has been inducted into
 the board of directors of Sun Pharmaceuticals Industries Ltd.
 
 -The Board of Directors of Sun Pharmaceutical Industries Ltd at its
 meeting held allotted 18,71,77,232 6% Cumulative Redeemable
 Preference Shares of Re 1 each as Bonus Shares in the ratio of 4:1
 (ie 4 Preference Shares of Re 1 each for every one equity shares of
 Rs 10 each) to the equity shareholders of the company as on the
 record date October 10, 2002.
 
 2003
 
 -Sun Pharmaceutical Industries Ltd (Sun Pharma) has announced the
 Buyback of fully paid-up equity shares of the Company of face value
 of Rs 10 each and / or Rs 5 each (being face value and paid up value
 subsequent to the splitting of the equity shares of Rs 10 into 2
 equity shares) not exceeding 2,000,000 equity shares of Rs 10 each
 and/or 4,000,000 equity shares of Rs 5 each i.e. not exceeding equity
 shares of face value of Rs 20,000,000 being less than 25% of the
 paid-up equity share capital of the company for an aggregate amount
 not exceeding Rs 1200,000,000 upto a maximum price of Rs 750 per
 equity share of Rs 10 each or upto a maximum price of Rs 375 per
 equity share of Rs 5 each from the existing shareholders and
 beneficial owners of the shares of the company from open market
 through stock exchanges. 
 
 -Sun Pharmaceuticals Industries Ltd has informed the Exchange that
 the Board of Directors at its meeting held on January 30, 2003
 accepted the resignation of Shri R K Baheti, Senior Vice President -
 Finance and Company secretary of the Company w.e.f 31/1/2003 and the
 Board appointed Shri Kamlesh H Shah as the Company Secretary w.e.f.
 31/1/2003.
 
 -Sun Pharmaceuticals’ US-based associate, Caraco Pharmaceutical
 Laboratories, has received the approval from the US Food and Drug
 Administration (US FDA) to manufacture and market yet another generic
 drug, this time for the treatment of mild to moderate cardiac failure,
 in the US. The drug, Digoxin, is the generic form of Glaxo Wellcome’s
 Lanoxin, the company said.
 
 -Sun Pharmaceutical Industries Ltd has informed BSE that it has
 further redeemed 1,42,99,833, 6% Cumulative Redeemable Preference
 Shares of Re 1 each amounting to Rs 1,42,99,833 in the fifth lot out
 of the total paid - up Preference Share Capital of the company.
 
 -Sun Pharmaceuticals Industries Ltd has informed the Exchange that
 the company pursuant to the earlier intimation about Redemption of
 Preference Shares, have extinguished /cancelled 3,01,20,608 shares -
 6% Cumulative Redeemable Preference Shares of Re.1/- each consisting
 of 2,98,37,008 Preference Shares in demat mode and 2,93,376
 Preference Shares in physical mode.
 
 -Board approved to close buy back of shares
 
 -The company's equity shares will be delisted from Vadodara Stock
 Exchange Ltd.
 
 2004
 
 - 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  million. By 2007, this stake has reached
 75% on a diluted basis. 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. 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. Construction at a formulation manufacturing site at Jammu is
 completed. 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 bill).
 
 
 2005
 -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.
 
 -Registered Office of the Company has been shifted  From SPARC, Akota
 Road,Akota, Vadodara-390 020 To SPARC,Tandalja,Vadodara-390020.
 
 2006
 - Announced the demerger of innovative business with pipelines,
 people, equipment and funding, into a new company.
 
 
 2007
 
 - 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 4 mill. This all-cash deal is subject to Taro
 shareholder approval and requisite regulatory clearances 
 
 2008
 
 -Sun Pharmaceutical Industries Ltd on January 30, 2008 announced that
 it has commercially launched generic Pantoprazole Sodium Delayed
 Release (DR) Tablets, 40 mg, which is AB-rated to Wyeth's Protonix DR
 Tablets. Sun's product is being sold in the United States by its
 marketing partner Caraco Pharmaceutical Laboratories.
 
 - 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 a approved facility in
 Tennessee. This will offer vertical integration for our controlled
 substance dosage form business in the US.
 
 2010
 
 - Sun Pharmaceutical Industries (Sun) has completed the acquisition
 of a controlling stake in Taro Pharmaceutical Industries (Taro)
 following the Option Agreement entered into in 2007 with Taro's
 controlling shareholders led by Taro's Chairman Barrie Levitt. 
 
 - Sun Pharmaceutical on Sept 8 won a significant victory in its
 three-year-old battle to acquire Taro Pharmaceuticals. 
 
 - Sun Pharma - Sun Pharma announced launch of generic Exelon in US
 
 - Sun Pharma - Supreme Court of Israel Rules in Favor of Sun Pharma
 
 -Company has splits its Face value of Shares from Rs 5 to Re 1
 
 2011
 
 - SunPharma - Merck & Co., Inc., and Sun Pharma Establish Joint
 Venture to Develop and Commercialize Novel Formulations and
 Combinations of Medicines in Emerging Markets.
 
 - SunPharma - MSD in India and Sun Pharmaceutical Industries Ltd
 entered Strategic Partnership to Co-market MSD's diabetes drug.
 
 - Merck & Co., Inc., and Sun Pharma Establish Joint Ventured to
 Develop and Commercialize Novel Formulations and Combinations of
 Medicines in Emerging Markets
 
 - Sun Pharma - MSD in India and Sun Pharmaceutical Industries Ltd
 Enter Strategic Partnership to Co-market MSD's diabetes drug.
 
 2012
 
 - Sun Pharma bagged USFDA approval for its AND Application for
 generic Zyprexa
 
 - Israel Makov appointed Chairman of Sun Pharma Board
 
 - Sun Pharma acquired URL generic business from Takeda
 
 - The Norwegian firm Telenor conduct its operations in India,
 promoters of Sun Pharma emerged as the new JV partner of the company.
Source : Dion Global Solutions Limited
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