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Monday
December 2018
12:57 PM IST
News Headlines
Sri Lanka: Ranil Wickremesinghe takes oath as PM after SC verdict on crisis        Cambodia seizes record 3-tonne haul of African ivory        PV Sindhu scripts history, clinches maiden BWF Tour Finals title        Virat Kohli slams record-breaking 25th Test ton in Perth        Trump's son-in-law Jared Kushner possible next chief of staff: US media        Sri Lanka PM Mahinda Rajapaksa to resign, says his son after court setback        Rahul Gandhi After Rafale Verdict: "Will Prove PM Helped Anil Ambani"        Author Amitav Ghosh Honoured With 54th Jnanpith Award        Supreme Court sees no wrongdoing in Rafale deal, rules out probe        India bowled a little bit short, Australia pacers could benefit: Border        ISL: FC Goa thrash NorthEast United 5-1        BWF World Tour Finals: PV Sindhu, Sameer Verma Register Easy Wins To Enter Semifinals        Diving legend says HIV-contracted friend inspired him to Olympic gold        India beat Pakistan to reach final of Emerging Teams Asia Cup        Boosting exports key to make India $5-tn economy by 2025: Kant        Prabhu, US Commerce Secretary to discuss trade issues on Feb 14        Ceasefire for key Yemen port agreed at peace talks: UN        Britain's May sees no 'immediate breakthrough' at EU        Poll results prove Ram Temple or communal polarisation doesn't cut ice with people: Sinha        Ashok Gehlot appeals to Cong workers in Raj to maintain peace        
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Business News
Sun Pharma expects normalisation of India biz in FY'19
 
New Delhi, Oct 2 (PTI) Sun Pharma expects its India business to stabilise in the current fiscal leading to "reasonable volume growth" after witnessing disruptions in 2017-18 due to GST implementation, a top company official said.

In a message to shareholders in the company's Annual Report for 2017-18, Sun Pharma Managing Director Dilip Shanghvi however said the government's enforced price cuts and policy changes are potential risk factors for the business.

"We expect normalisation of the India business in 2018-19 post the disruption in 2017-18 due to GST implementation. Favourable demographics will ensure reasonable volume growth in India," Shanghvi said.

However, government-mandated price reductions/policy changes continue to be potential risks for this business, he added.

The company's India business revenues stood at Rs 8,029 crore in 2017-18, a growth of 4 per cent over 2016-17.

Shanghvi said the short-term outlook for the US generics market continues to be challenging given the pricing pressures.

"We are also expecting reasonable growth in our emerging markets business, however, as always, currency fluctuations continue to be a risk," he added.

Elaborating further, he said the company is in the process of gradually ramping up its global specialty business.

"We plan to increase its contribution to our consolidated revenues in the long term. This will entail significant front-ended investments, with commensurate revenue streams accruing only over a period of time," Shanghvi said.

Some of the company's specialty products are likely to be commercialised in the US in 2018-19 and hence it expects to incur significant pre-launch and branding costs along with increasing sales force costs, he added.

"Given these factors, we expect a low double-digit topline growth in our consolidated revenues for 2018-19 over 2017-18," Shanghvi said.

The Mumbai-based drug firm posted consolidated revenues of Rs 26,489.46 crore for 2017-18.

Shanghvi said the company's consolidated R&D investments for 2018-19 will be about 8-9 per cent of its revenues.


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INTERNATIONAL NEWS
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