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Sun Pharmaceutical Industries Ltd. Company History and Annual Growth Details

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 $500mill).

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 Wellcomes 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 $42 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 $2bill).


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.


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 $454 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 Ltd has appointed Shri. Kal Sundaram, as an Additional Director on the Board of Directors of the Company and as the Chief Executive Officer of the Company with effect from April 01, 2010.
 
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