Sun Pharmaceutical Industries Limited is an Indian pharmaceutical company headquartered in Mumbai. It manufactures and sells pharmaceutical formulations and active pharmaceutical ingredients, primarily in India and the US. The company offers drugs in various therapeutic areas such as cardiology, psychiatry, neurology, and others. It was established in 1983 and has grown to become the largest pharmaceutical company in India and among the largest generic drug companies globally through acquisitions. The company is committed to high standards of corporate governance, transparency, and ethics.
3. Sun Pharmaceutical Industries Limited is an Indian
multinational pharmaceutical company headquartered in Mumbai,
Maharashtra that manufactures and sells pharmaceutical formulations
and active pharmaceutical ingredients (APIs) primarily in India and the
United States. The company offers formulations in various therapeutic
areas, such as cardiology, psychiatry, neurology, gastroenterology
and diabetology. It also provides APIs such as warfarin, carbamazepine,
etodolac, and clorazepate, as well as anticancers, steroids, peptides,
sex hormones, and controlled substances.
INTRODUCTION
4. HISTORY
• Sun Pharmaceuticals was established by Mr. Dilip
Shanghvi in 1983 in Vapi with five products to
treat psychiatry ailments. Cardiology products were
introduced in 1987 followed by gastroenterology products in
1989. Today, it is the largest chronic prescription company
in India and a market leader in psychiatry, neurology,
cardiology, orthopedics, ophthalmology, gastroenterology
and nephrology.
• The 2014 acquisition of Ranbaxy has made the company the
largest pharma company in India, the largest Indian pharma
company in the US, and the 4th largest speciality generic
company globally.
7. COMPANY’S PHILOSOPHY ON CODE
OF CORPORATE GOVERNANCE
Sun Pharmaceutical Industries Limited’s
philosophy on Corporate Governance envisages
working towards high levels of transparency,
accountability, consistent value systems,
delegation across all facets of its operations
leading to sharply focused and operationally
efficient growth.
8. The Company tries to work by these
principles in all its interactions with
stakeholders, including shareholders,
employees, customers, suppliers and
statutory authorities. Sun
Pharmaceutical Industries Limited is
committed to learn and adopt the best
practices of Corporate Governance.
9. CODE OF CONDUCT
The Board of Directors has laid down a Code of Conduct for
all Board members, and all employees, including the senior
management of the Company. All the Directors and senior
management have affirmed compliance with the Code of
Conduct as approved and adopted by the Board of Directors
and a declaration to this effect signed by the Managing
Director has been annexed to the Corporate Governance
Report.
10. AUDIT COMMITTEE
The terms of reference of the Audit Committee inter alia include: overseeing the
Company’s financial reporting process, reviewing the quarterly/ half yearly/ annual
financial statements, reviewing with the management the financial statements and
adequacy of internal audit function, management letters issued by the statutory
auditor, recommending the appointment/ re-appointment of statutory auditors and
fixation of audit fees, reviewing the significant internal audit findings/ related
party transactions, reviewing the Management Discussion and Analysis of financial
condition and result of operations, scrutiny of intercorporate loans, review of
internal financial control and risk management, review functioning of Whistle
Blower/Vigil Mechanism, approval of appointment of CFO, and also statutory
compliance issues, etc.
11. DISCLOSURES
No transaction of a material nature has been entered into by the
Company with Directors or Management and their relatives, etc.
that may have a potential conflict with the interests of the
Company.
There were no instances of non-compliance by the Company on any
matters related to the capital markets or penalties, strictures
imposed on the Company by the Stock Exchange or SEBI or any
statutory authority on any matter related to capital markets, during
the last three years.
12. SUNOLOGY
A combination of two words, Sun &
Ideology is at the core of Sun.
Humility, Integrity, Passion &
Innovation together form Sunology. It
is a way of life at Sun.
13. Humility
Under promise and over deliver
Let your work speak for you
Always put ‘we’ before ‘me’
Learn from mistakes
Integrity
Do the right thing with conviction & without fear
Practice honesty, impartiality & fairness at all times
Adhere to strong ethical and moral standards
Courage to call-out what is not right
14. Passion
Infuse energy in everything that you do
Walk that extra mile
Inspire others
Do your best in every situation
Innovation
Strive to implement new ideas & technologies to meet unmet needs
Encourage others to think out-of-the-box
Do not limit yourself
Believe in raising the bar every time
15. VALUES
Quality
Get it right the first time
Reliability
Maintain efficiency & discipline in all processes & systems and fulfil the promises made to stakeholders
Consistency
Endeavour to bring new products to the market & consistently deliver value to stakeholders
Trust
Be transparent in dealings
Innovation
Implement new ideas & technologies to meet unmet needs and think ahead of times