Sun Pharmaceutical Industries Ltd.
`SUN HOUSE, CTS No. 201 B/1,
`Western Express Highway,
`Goregaon (E), Mumbai 400063, India
`Tel.: (91-22) 4324 4324 Fax.: (91-22) 4324 4343
`CIN: L24230GJ1993PLC019050
`www.sunpharma.com
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`FOR IMMEDIATE RELEASE
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`Sun Pharma announces closure of merger deal with Ranbaxy
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`Beginning today, integration to focus on enhancing productivity
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`Value creation initiatives to deliver US$ 250 mn synergies in Year 3
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`Combined entity structure to create opportunities for strong talent growth
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`Growing Together is the theme of combined culture
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`• 100% compliance, enhancing R&D productivity & strong business growth are the key
`priorities for Sun Pharma as combined entity
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`• Announces Management Leadership Team to lead combined entity’s next growth phase
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`• Plans strong team of Functional Leaders drawing best of Sun Pharma & Ranbaxy
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`Mumbai, India: March 25, 2015 – Sun Pharmaceutical Industries Ltd. (Reuters: SUN.BO, Bloomberg: SUNP IN,
`NSE:SUNPHARMA, BSE: 524715), today, begins the integration of Ranbaxy’s business following the successful
`closure of its merger. The integration, planned by Sun Pharma over many months, will focus on supporting strong
`growth. The merger has fortified Sun Pharma’s position as the world’s fifth largest specialty generic pharmaceutical
`company and the top ranking Indian Pharma company with significant lead in market share. The combined entity’s
`manufacturing footprint covers 5 continents with products sold in over 150 nations with a stronger presence in US,
`India, Asia, Europe, South Africa, CIS & Russia and Latin America. Sun Pharma now offers a large basket of
`specialty and generic products encompassing a broad range of chronic and acute prescription drugs as well as a
`ready foray into the global consumer healthcare market. Post-merger, Daiichi Sankyo becomes the second largest
`shareholder in Sun Pharma and both companies will work together to leverage this relationship for global business
`growth. The integrated culture theme, “Growing Together”, represents the core objective of this merger focusing
`on improving productivity, compliance commitment, focus on quality and sustainable growth. Through this merger
`Sun Pharma emerges as India’s first truly global pharmaceutical company.
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`The combination allows Sun Pharma to:
`1. Significantly expand its R&D capabilities and global presence, especially across emerging markets
`2. Enhance product portfolio and market depth in India, US as well as Rest of the World markets
`3.
`Improve strategic flexibility, ability to pursue partnerships and strengthen M&A bandwidth
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`Following the closure of this transaction, Ranbaxy will be delisted from the Indian Stock Exchanges. Ranbaxy
`shareholders will receive 0.8 share of Sun Pharma for each share of Ranbaxy. On pro forma basis for 12 months
`ended December 2014, Sun Pharma’s gross margin stands at 76% (Industry average 62%); EBIDTA margin at
`32% (industry average 19%) and Net margin at 20% (Industry average 12%).
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`Registered Office : SPARC, Tandalja, Vadodara – 390 020. India
`Corporate Office : Acme Plaza, Andheri – Kurla Road, Andheri (East), Mumbai – 400 059. India
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`Adamas Exhibit 2001
`Ranbaxy Labs. Ltd. et al. (Petitioners) v. Adamas Pharms., Inc. (Patent Owner)
`Case IPR2015-00410
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`Sun Pharmaceutical Industries Ltd.
`SUN HOUSE, CTS No. 201 B/1,
`Western Express Highway,
`Goregaon (E), Mumbai 400063, India
`Tel.: (91-22) 4324 4324 Fax.: (91-22) 4324 4343
`CIN: L24230GJ1993PLC019050
`www.sunpharma.com
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`Mr Israel Makov, Chairman, Sun Pharma said, “The combined entity will capitalize on the expanded global
`footprint and enhance our dominance as a world leader in the specialty generics landscape. Sun remains
`committed to uncompromised product quality, 100% compliance and promotes innovation to create the most
`dynamic global specialty generics pharmaceutical company. We believe that our shareholders, customers and
`employees will share our excitement in the potential of this combination and thank them for their continued
`support.”
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`TOP PRIORITIES FOR COMBINED ENTITY
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`Sun Pharma has identified three key priority levers to drive growth in the combined entity
`1. Achieving 100% compliance in manufacturing in line with Regulator expectations
`2. Increase R&D productivity to introduce new innovative products
`3. Strong business growth across US, India, and Rest of the World markets
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`Commenting on the combined entity’s priorities, Mr Dilip Shanghvi, Managing Director, Sun Pharma
`further added: "It is an important milestone in the history of Sun Pharma as we enter into a new phase of
`growth. We will continue to focus on gaining trust of the Regulators globally while continuing to develop products
`based on patient needs and leverage them to become brand leaders globally.”
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`INTEGRATION FOCUS
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`Over the last 10 months, Sun Pharma and Ranbaxy’s joint functional teams put together the integration blueprint
`with direction from Integration Management Office (IMO). The IMO will continue to oversee the implementation of
`the functional integration process. The integration will emphasize on productivity enhancement, aligning best
`functional requirements and employee talents in the combined entity. Any structural re-alignment will focus on
`clear benefits assessment to synchronize Company's long term goals and integration of a culturally diverse
`combination. This merger strengthens Sun Pharma's foundation with a strong & multi-cultural team of over 30,000
`people representing over 50 global cultures making the combined entity a truly global corporation in spirit & scale.
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`Remediation at manufacturing units which are currently in deviation from cGMP norms will remain a critical focus.
`Sun Pharma is working with global consultants assisting its internal teams to achieve compliance objectives. It has
`formalized an operational blueprint for realizing its US$ 250 million synergy target for year-3 through significant
`value creation across functions. The integration will cover all functions and markets globally.
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`LEADERSHIP TEAM
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`Leading the integration process will be Sun Pharma’s Leadership Team comprising members from Sun Pharma and
`Ranbaxy. This team draws upon the expertise, collective industry experience and proven track record within Sun
`Pharma & Ranbaxy organisations. The leadership team is also responsible for leading Sun Pharma’s next phase of
`growth as it deepens penetration in existing markets while the merger enables it to enter new therapies. Each
`Leadership Team member will lead an expanded Functional Management Team. This Functional leadership
`pipeline draws best of talents from both Sun Pharma and Ranbaxy identified through detailed
`capability assessment undertaken by a global talent management firm.
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`The combined entity's leadership structure design was guided by the following factors:
`• Allow focus on priority areas and institutionalize imperatives in R&D & Quality
`• Support strong and sustainable revenue growth across US, India & Rest of the World.
`• Promote learning through best practices of Sun Pharma & Ranbaxy
`• Create opportunities for talent to grow together
`• Minimise disruptions by undertaking modification only in case of clear benefits
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`Registered Office : SPARC, Tandalja, Vadodara – 390 020. India
`Corporate Office : Acme Plaza, Andheri – Kurla Road, Andheri (East), Mumbai – 400 059. India
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`Sun Pharmaceutical Industries Ltd.
`SUN HOUSE, CTS No. 201 B/1,
`Western Express Highway,
`Goregaon (E), Mumbai 400063, India
`Tel.: (91-22) 4324 4324 Fax.: (91-22) 4324 4343
`CIN: L24230GJ1993PLC019050
`www.sunpharma.com
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`The combined entity comprises best intellectual capital, capability of nearly 1,800 scientists and the ability to invest
`significantly in R&D. The focus of R&D investments will be to harness multiple capabilities and technologies for
`developing complex products in addition to the combined entity's core business of offering affordable generic
`medicines. The combined entity will continue developing innovative and complex generics that boast of technical
`differentiators.
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`About Sun Pharma: Sun Pharma is the world's fifth largest specialty generic pharmaceutical company and
`India's top pharmaceutical company. A vertically integrated business, economies of scale and an extremely skilled
`team enable us to deliver quality products in a timely manner at affordable prices. It provides high-quality,
`affordable medicines trusted by customers and patients in over 150 countries across the world. Sun Pharma's
`global presence is supported by 45 manufacturing facilities spread across 5 continents, R&D centres across the
`globe and a multi-cultural workforce comprising over 50 nationalities. The pro forma consolidated revenues for 12
`months ending December 2014 are at US$4.5 billion, of which US contributes US$2.2 billion. In India, the
`company enjoys leadership across 11 different classes of doctors with 31 brands featuring amongst top 300
`pharmaceutical brands in India. Its footprint across emerging markets covers over 50 countries and 6 markets in
`Western Europe. Its Global Consumer Healthcare business is ranked amongst Top 10 across 4 global markets with
`5 brands enjoying category leadership across India, Romania and Nigeria. Its API business footprint is
`strengthened through 11 world class API manufacturing facilities across the globe. Sun Pharma fosters excellence
`through innovation supported by strong R&D capabilities comprising 1800 scientists and R&D investments of 6.3%
`of annual revenues. For further information please visit www.sunpharma.com
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`Safe Harbor Statement
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`This press release contains statements regarding our strategic direction and our projected financial and business results, which
`may be considered forward-looking within the meaning of the local & international laws. These statements are subject to
`known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or
`achievements to differ materially from results expressed or implied in this press release. We assume no obligation, and do not
`intend, to update these forward-looking statements as a result of future events or developments.
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`MEDIA CONTACTS:
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`USA
`Robert Ferris | +1 614-318-7615 | robert.ferris@rfbinder.com
`Della Burns | +1 847-331-6545 | della.burns@rfbinder.com
`Will Maroni | +1 301 481-1636 | william.maroni@rfbinder.com
`Chuck Caprariello | +1 609-462-7354 | chuck.caprariello@sunpharma.com
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`India
`Bhupesh Kapoor| +91 9990831051 | bhupesh.kapoor@sunpharma.com
`Gaurav Chugh | +91 9810471414 | gaurav.chugh@sunpharma.com
`Devneeta Pahuja | +91 9811277033 | devneeta.pahuja@sunpharma.com
`Krishnan Ramalingam | +91 9810042540 | krishnan.ramalingam@sunpharma.com
`Frederick Castro | +91 9920665176 | frederick.castro@sunpharma.com
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`Romania
`Anca Secueanu | +40 372179606 | anca.secueanu@sunpharma.com
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`INVESTOR RELATIONS CONTACT:
`Nimish Desai | +91-22-4324 4324 | nimish.desai@sunpharma.com
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`Registered Office : SPARC, Tandalja, Vadodara – 390 020. India
`Corporate Office : Acme Plaza, Andheri – Kurla Road, Andheri (East), Mumbai – 400 059. India
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