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Sun Pharma
Sun faces US FDA issue with Caraco and TARO’s Canada facility. However, it avoided
providing a timeline to address these issues.
Sun would continue to maintain robust growth in domestic formulations and its margins
through 100% coverage of 130,000 specialists with its 2,700 sales force. It does not
expect price competition from MNC pharma companies as their costs would be
comparatively high. In India, 74 products are under the drug price control, in which Sun
has limited exposure. It expects the domestic pharma industry to continue to record
higher growth in line with India’s GDP growth.
Taro’s product portfolio is quite different from Sun. These should be able to generate
higher margins in the medium term as the synergy initiatives would take time. However,
Taro has a limited product pipeline, which would limit the revenue growth. Sun plans to
launch these products in India as well as semi-regulated markets.
Sun plans to deploy its USD850m war chest for acquisition mainly in the US. Focus for
its emerging markets division would be the high-growth countries like Brazil, China and
South Africa.
Sun plans to launch the Taxotere and Gemzar post exclusivity. However, as its generic
version of Taxotere is a bit different from the original product, it expects limited
commercial opportunity. Gemzar would be launched after the FTF launch. Sun
experienced significant price erosion for recent competition launches after the entry of 4-
5 competitors.
Protonix patent litigation is still in the lower court and Sun is waiting for the final
judgement. At this stage, we note it is difficult to assess the liability.
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
Sun Pharma
Sun faces US FDA issue with Caraco and TARO’s Canada facility. However, it avoided
providing a timeline to address these issues.
Sun would continue to maintain robust growth in domestic formulations and its margins
through 100% coverage of 130,000 specialists with its 2,700 sales force. It does not
expect price competition from MNC pharma companies as their costs would be
comparatively high. In India, 74 products are under the drug price control, in which Sun
has limited exposure. It expects the domestic pharma industry to continue to record
higher growth in line with India’s GDP growth.
Taro’s product portfolio is quite different from Sun. These should be able to generate
higher margins in the medium term as the synergy initiatives would take time. However,
Taro has a limited product pipeline, which would limit the revenue growth. Sun plans to
launch these products in India as well as semi-regulated markets.
Sun plans to deploy its USD850m war chest for acquisition mainly in the US. Focus for
its emerging markets division would be the high-growth countries like Brazil, China and
South Africa.
Sun plans to launch the Taxotere and Gemzar post exclusivity. However, as its generic
version of Taxotere is a bit different from the original product, it expects limited
commercial opportunity. Gemzar would be launched after the FTF launch. Sun
experienced significant price erosion for recent competition launches after the entry of 4-
5 competitors.
Protonix patent litigation is still in the lower court and Sun is waiting for the final
judgement. At this stage, we note it is difficult to assess the liability.
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