India's Sun Pharma Moves Exports To Boost Income
Sun Pharmaceutical of India has transferred its entire export business -handled thus far by Sun Pharma Exports - to Sunkalp Laboratories, a new wholly-owned subsidiary of the company. A company statement said that the creation of a new exclusive export company is likely to contribute to greater transparency and higher income.
Sun Pharma Exports was incorporated as a partnership with an 80% stake held by Sun Pharmaceuticals, 10% by group investment company Solapur Organics and the remaining 10% by Sun Pharmaceutical's managing director, Dilip Shanghvi.
Total exports of Sun Pharmaceuticals jumped 87% to 120.5 million rupees for the year ended March 31, and Mr Shanghvi has said the current fiscal year had begun on a good note.
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