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Sun Pharma's R&D investment around Rs 2,000 cr in FY20
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SME Times News Bureau | 27 Sep, 2020
Sun Pharmaceutical Industries Ltd invested around Rs 2,000 crore in
research and development (R&D) in the last financial year (2019-20).
In
his message to the shareholders, in the company's Annual Report,
Managing Director Dilip Shanghvi said that R&D is imperative for any
pharmaceutical company's future and its focus is to continue investing
in R&D to develop differentiated generics and innovative specialty
products.
"Our global generic business requires a constant flow
of new products, and hence R&D capabilities to develop such products
and meet the individual requirements of each market are very
important," he said.
He also noted that R&D is also vital for strengthening the company's global specialty pipeline.
"It
is a key determinant of the future growth and profitability of the
specialty initiative. We expect to continue to invest in specialty
R&D in the coming years as we progress further in building the
specialty business," Shanghvi said.
"Our R&D investments for
the year were approximately Rs 20 billion. We continue to be disciplined
in identifying future R&D projects for the US generics market and
the focus is on developing differentiated generics. Investments for
developing the long-term specialty pipeline are expected to continue."
The
MD also said that Sun Pharmaceutical's strategy of developing the
specialty business as an additional growth engine has started
delivering, with a gradual ramp-up in specialty revenues. The momentum
is likely to continue over the next few years although the COVID-19
pandemic and subsequent lockdowns may throw up some uncertainties in the
near-term, he added.
The specialty business is also helping the
company to move up the pharmaceutical value chain and bring in more
innovation to its business, he said, adding that the company has
invested significant resources over the past few years in building this
business. It is now focusing on commercial execution to ensure that
future cash flows justify these significant investments.
Noting
that generics will continue to be an important part of the overall
healthcare management globally, he said: "Sun Pharma's strong
positioning in the global generics industry and continued investments
for the future will ensure that it remains a prominent player in this
space."
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