Drug major Sun Pharmaceutical Industries is gradually ramping up its speciality business across global markets as it aims to clock "low-to-mid teens" growth in consolidated revenues in the current fiscal.
Addressing shareholders in the company's annual report for 2018-19, Sun Pharma Managing Director Dilip Shanghvi said the company is focused at growing each of its business verticals faster than the market in which it operates.
"Our consistent focus is on growing each of our businesses faster than the market in which they operate. Our global specialty initiatives will supplement this objective as an additional growth engine," Shanghvi said.
The company is targeting key ailments like psoriasis to gradually ramp up its global specialty business, he said adding that Sun Pharma would continue to invest in branding and promotion of its various specialty products.
Besides, R&D investments for funding clinical trials of some of the specialty products are also likely to continue in future, Shanghvi noted.
On business outlook for the current fiscal, he said: "For 2019-20, we expect our consolidated revenues to grow by low-to-mid teens, while R&D investments are estimated at 8-9 per cent of sales."
The Mumbai-based drug firm had reported consolidated revenue from operations at Rs 28,686.28 crore for the fiscal year ended March 2019.
Shanghvi said the company would also continue to invest in the generics business with a focus on developing differentiated complex products and building a product pipeline across markets.
"Our strong positioning in the global generics space will ensure that we remain an important player in the generics industry," he added.
Shanghvi said the company will also continue to focus on optimising its costs, given the tough phase that the global generics industry is passing through.
"We strive to optimally utilise our resources with greater involvement of people to make the company more efficient," he added.