Sun, Execs Settle Whistleblower Charges On Lapses
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.
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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?
Sun Pharma, which has been hit by allegations of grave lapses in corporate governance practices, has given its side of the story, essentially emphasizing that it has done no wrong. The company, however, signaled that it is open to reviewing certain operational arrangements should that improve investor confidence.
Merck & Co. executive outlines how the company could sustain a “compliant supply performance” amid the pandemic, while senior officials from Sun Pharma, Cipla, Zydus Cadila and Biocon shared insights on coping with supply chain turbulence and moving away from over-dependence on China for starting materials.