Sun Profit Dives On Ranbaxy Integration Costs
This article was originally published in PharmAsia News
Sun Pharmaceutical Industries, India’s biggest drug maker, has announced a 60% slump in quarterly net profit from a year earlier, hit by one-off charges as it integrates troubled former rival Ranbaxy, acquired from Japanese owners Daiichi Sankyo earlier this year. But the generics giant says the “short-term pain” will result in long-term gain.
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