Sun Pharma Q4 profit halves to Rs 636 cr on distribution strategy change

Sales in the US were $443 million for the quarter, a 20 per cent increase over the same period last year, and accounted for 44 per cent of total sales

Sun Pharmaceutical Industries, the country’s largest drugmaker by sales, on Tuesday reported a 52 per cent drop in net profit in the fourth quarter of FY19 as against the year-ago period, and projected its sales growth for FY20 in a single digit to mid-teens. The firm in a regulatory filing also stated that Sudhir Valia, its whole-time director, has resigned and been assigned the role of a non-executive director. 

Investors had expressed apprehension over reports of diversion of funds from the company to a realty firm promoted by Valia. Both company and Valia, however, have denied diversion of funds. But after