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Last Updated : Aug 14, 2019 02:00 PM IST | Source: Moneycontrol.com

Sun Pharma management rejig: Aalok Shanghvi gets a bigger role

Aalok, who is currently the Senior-Vice President, Emerging Markets and Global R&D, will have additional responsibility for generic business development.

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Sun Pharma has announced a major senior management rejig, giving additional responsibilities to Aalok Shanghvi, son of Dilip Shanghvi, the promoter and Managing Director.

Aalok, who is currently the Senior-Vice President, Emerging Markets and Global R&D, will have additional responsibility for generic business development.

Aalok, who joined the company in 2007 as product manager, holds a degree in molecular biology from University of Michigan.

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Kal Sundaram, who was India and emerging markets head, will now be responsible for Japan and China businesses besides the company's strategic initiatives. Kirti Ganorkar, who was heading the global business development function, will now head the India formulations business.

"We will look for a fresh recruitment for the branded business development function," Dilip Shanghvi told analysts.

Sun Pharma is trying to transform itself from pure play generic company to a specialty led global pharma company. Specialty division generated sales of over $90 million in Q1FY20, and is growing.

Its earnings rose in double digits for the first time in about two years.

Net profit jumped 31 percent year-on-year to Rs 1387.5 crore, led by growth in India and US businesses.

Revenue from operations during the quarter jumped nearly 16 percent to Rs 8,374.4 crore compared to previous year.

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First Published on Aug 14, 2019 01:46 pm
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