MUMBAI -- India's Sun Pharmaceutical Industries has seen exceptional growth in the nation's massive generic-drug industry. The company has the highest total market value in an industry heavy with competition. To achieve this, co-founder and Managing Director Dilip Shanghvi has applied a sharply targeted takeover strategy and focuses production on pharmaceuticals for nerve and heart problems, which are in high demand across the globe.
For the quarter to September, Sun Pharma turned in figures higher than planned, for both sales and profit, said Shanghvi. In September the company's share price reached record highs every day as the market anticipated healthy sales of carcinostatics, a drug category Sun Pharma dominates. Overseas sales account for about 70% of total sales. Sun Pharma has bought nearly 20 drug-related companies, helping it to establish a solid position to become a global enterprise.
Sun Pharma has sufficient development capacity to introduce about 30 new products annually, a rate likely to rise this year. There is speculation that the company is considering takeovers of major U.S. and European companies. The coming year is seen as pivotal for the company's growth.