Sun Firefights Governance Concerns
Sun has promised to implement certain changes to address corporate governance concerns that have riled investors, including “unwinding” a loan transaction and doing away with a controversial related party arrangement for domestic sales. But will that be enough for markets to "forget" allegations of lapses or "re-rate" the firm any time soon?
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Sun Pharma and some members of its senior leadership have settled a case pertaining to related party transactions and compliance deviations raised in whistleblower complaints in India.
Early indications that a whistleblower’s allegations of certain serious irregularities by Sun Pharma may not hold water lifted its shares, though it remains unclear if the issue stands completely closed.
Evolving regulations and emerging opportunities appear to have put China firmly on the radar of several frontline Indian firms. Sun Pharma is the latest to join those seeking a larger play in the Asian market.