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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 Pharma Founder and Managing Director Dilip Shanghvi said the company would grow its speciality drug pipeline globally and expand manufacturing facilities
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Sun Pharma Founder and Managing Director Dilip Shanghvi said the company would grow its speciality drug pipeline globally and expand manufacturing facilities

Aneesh PhadnisSohini Das Mumbai
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

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First Published: May 29 2019 | 1:14 AM IST

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