Sun Pharmaceutical Industries Ltd - 524715 - Disclosures under Reg. 31(1) and 31(2) of SEBI (SAST) Regulations, 2011
The Exchange has received the disclosure under Regulation 31(1) and 31(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Aditya Medisales Ltd Sun Pharma shares dip nearly 2 per cent
Shares of Sun Pharmaceutical Industries on Friday fell nearly 2 per cent after the firm said a forensic audit has been ordered by the Securities ans Sun Pharmaceutical Industries Ltd - 524715 - Clarification / Confirmation On News Item
Clarification / Confirmation on news item
Sun Pharma sees a strong generics pipeline, but margin pressure continues
by Sandhya Krishnan Sun Pharma’s better than expected Q1FY20 results was echoed by a cautiously optimistic management. “We have recorded growth across most of the markets for the quarter and our performance is in-line with our full-year guidance," Dilip Shanghvi, Managing Director said. "We are consistently focusing on improving our efficiencies and cost structure to ensure reasonable returns for our generics business. At the same time, we continue..efforts on building the specialty business and are encouraged by the potential of one of our pre-clinical research molecules which is likely to enter clinical trials next year." Sun Pharma's share prices have taken a hit after SEBI ordered a 'forensic audit' of its books. The share price has been shadowed by the whistleblower allegations last year, and the new forensic audit is likely to keep the company's regulatory future in some uncertainty. The company's recently disclosed financials and management comments however bode well, as long as the audit comes out clean for the firm. Quick takes: As of Q1FY20, the company had 466 approved ANDAs with 108 ANDAs awaiting FDA approval and 13 tentative clearances. For Q1FY20 alone, 3 ANDAs were filed and 13 approvals were obtained. The pipeline comprises 52 approved NDAs and 6 NDAs awaiting approval. All of this to keep the company in good stead in FY20. PAT recorded a 41.2% yoy jump to touch Rs. 1,387 crores. But this was largely owing to the exceptional forex gain of Rs 67 crore as against a corresponding loss in the previous year. The improved bottom-line resulting from higher other income and cut back on R&D; expenses failed to enthuse the markets and the share prices slumped. Owing to supply chain related difficulties, the launch of specialty drug Cequa would be postponed from Q2FY20 to Q3FY20. However, related marketing costs have already been factored in. The management foresees a capex requirement of $200 million for FY2020E. Competition in the US generics markets might limit pricing power, specialty focus expected to pay off from FY2021E Topline growth was 16% yoy with sales touching Rs. 8,259 crores, attributable to broad based growth across segments. The management remains confident of achieving double-digit sales growth for FY2020. Segment performance: Revenues from the India branded formulation segment, comprising 28% of sales, grew 8% to Rs. 2,314cr, supported by 10 additional product launches. US markets, which make up 36% of sales, clocked 12% YoY growth to hit revenues of Rs. 2,947cr, boosted by a one-time, short-term generics order. Taro clocked a 4% yoy growth. R&D; is known to be a key growth driver for the pharma sector. The decline in R&D; allocation from Rs. 500 crores (7% of sales) for Q1FY19 to Rs. 422 crores (5.1% of sales) in Q1FY20 is a cause for concern. EBITDA stood at Rs. 1,881 crores with healthy operating margins of 22.8%, supported by cost efficiencies. With Sun Pharma’s specialty drugs build-up, it is expected that related marketing and other expenses (c.3-5% of revenue) would rise. This might cause margins to take a beating. Reduction in debt resulted in a subsequent drop in interest servicing costs As per AIOCD AWACS June-2019 report, Sun Pharma commands a leadership position (8.2% market share) in the Rs. 132,000 crore Indian pharmaceutical market. The company enjoys a strong brand equity especially amongst the medical fraternity. As part of its vertical integration strategy, the company plans to hike captive API utilisation for key products. External revenues realised from API also showed marked improvement to Rs 461 crores, a 17% yoy growth as of Q1FY20. Recognising the growth potential in the speciality business, the company is keen to gain a foothold in this space. The stats clearly indicate this trend. For Q1FY20, global specialty revenues accounted for $94 million across markets, with specialty R&D; taking a 15% lion’s share of total R&D; spend for the quarter. Accordingly, Sun Pharma has commenced R&D; to develop a related early stage innovation pipeline. Inclusion of new research candidates is vital for the sustainability of this segment. The management indicated that the present pipeline of pre-clinical research candidates includes a particular molecule with proven best-in-class therapeutic results in early pre-clinical models and is likely to enter clinical trials next year. Given the growing incidence of chronic ailments, the company’s leadership position in this segment would bode well for FY20. Additionally, the management expects to benefit from Sun Pharma’s foray into China, the 2nd largest market for generics and speciality drugs after the US. Sun Pharma’s inorganic strategy continues to pay off with the acquisition of Pola Pharma, Japan contributing significantly to the 56% revenue growth to $ 167mn in the ROW segment. The management foresees a capex requirement of $200 million for FY2020e, a jump in the tax rate and an expansion in margins in the next 2 years, backed by a favourable product mix and effective cost control. SUN PHARMACEUTICAL INDUSTRIES LTD. - 524715 - Clarification sought from Sun Pharmaceutical Industries Ltd
The Exchange has sought clarification from Sun Pharmaceutical Industries Ltd on September 4, 2019, with reference to news appeared in www.business-standard.com dated September 4, 2019 quoting "Sun Pharma slides 4% on report of Sebi ordering forensic audit "The reply is awaited.
Sun Pharma: investors relieved, but stock's upside may be capped
The overhang may not yet be done and dusted as Sebi is yet to communicate its final decision to Sun Pharma.In the past three months, the Sun Pharma stock has also outperformed the Nifty Pharma index SUN PHARMACEUTICAL INDUSTRIES LTD. - 524715 - Disclosures under Reg. 31(1) and 31(2) of SEBI (SAST) Regulations, 2011
The Exchange has received the disclosure under Regulation 31(1) and 31(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Shanghvi Finance Pvt Ltd Sun Pharmaceutical Industries Ltd - 524715 - Disclosure of Voting results of AGM (Regulation 44(3) of SEBI (LODR) Regulations, 2015)
Sun Pharmaceutical Industries Ltd has informed BSE regarding the details of Voting results of AGM, under Regulation 44(3) of SEBI (LODR) Regulations, 2015. Kindly Click here SUN PHARMACEUTICAL INDUSTRIES LTD. - 524715 - Shareholder Meeting / Postal Ballot-Scrutinizer''s Report
Voting Results of Twenty Seventh Annual General Meeting of the Company held on August 28, 2019 in accordance with Regulation 44(3) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 alongwith Scrutinizer''s Consolidated Report. Sun Pharmaceutical Industries Ltd - 524715 - Chairman Speech At The 27Th AGM Held On August 28, 2019
We are pleased to enclose herewith Chairman Speech at the 27th AGM held on August 28, 2019, at Vadodara;