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Sun Pharma posts profit dive on U.S. pricing pressure


REUTERS - India's largest drugmaker Sun Pharmaceutical Industries reported a 59 percent plunge in second-quarter profit on Tuesday, hurt by generics pricing pressure in the United States.Along with other Indian drugmakers, Sun Pharma has had sales dented by rising competition in the generics market and greater pricing scrutiny in the United States, though its quarterly results still beat analyst expectations. Sun Pharma Managing Director Dilip Shanghvi cited the pricing environment for the second-quarter profit fall but said results had also been hit by the company's continued investment in ...

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First Published: Tue, November 14 2017. 17:55 IST