Sun US Chief Settles Insider Trading Case
Top Sun Pharma executive Abhay Gandhi and his wife have settled a case pertaining to alleged insider trading in shares of Ranbaxy around the time of the company’s acquisition by Sun from Daiichi Sankyo in 2014. Sun, which has been firefighting a raft of governance concerns, has vouched for the executive’s integrity.
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Ahead of its Q4 earnings, Sun Pharma has indicated its intent to take additional steps to address investor unease and perceptions around gaps in corporate governance. Investors are expected to keep a close watch on the company's efforts in these areas as well as on management commentary around the US uptake of psoriasis asset Ilumya.
As Sun Pharma firefights allegations of corporate governance lapses, Scrip speaks to multiple experts on how they view the governance landscape across Pharma Inc in India and also some key sticking points.
Sun Pharma had moved swiftly to clarify that it has not violated insider trading rules, amid suggestions that India's markets regulator may consider a preliminary probe into the significant spike in Ranbaxy's shares on local bourses ahead of its acquisition by Sun.