Sun Pharmaceutical Industries Limited

Type Public

Traded as BSE: 524715

NSE: SUNPHARMA

Industry Pharmaceuticals

Founded 1983

Founder Dilip Shanghvi

Headquarters Mumbai, Maharashtra, India

Area served Worldwide

Key people Dilip Shanghvi

(Managing Director)

Products Pharmaceuticals, generic drugs

Revenue ₹31,578 crore(US$4.8 billion) (Mar

2017) [1]

Net income ₹7,836 crore(US$1.2 billion) (Mar

2017)[1]

Total assets ₹54,219 crore(US$8.3 billion) (Mar

2016)

Number of 52,700 (March 2016)[2]

employees

Website www.sunpharma.com
Sun Pharmaceutical Industries Limited (NSE: SUNPHARMA, BSE: 524715) 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.

History

Sun Pharmaceuticals was established by Mr. Dilip Shanghvi in 1983 in Vapi, Gujarat 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 specialty generic company
globally.

Over 72% of Sun Pharma sales are from markets outside India, primarily in the US. The US is
the single largest market, accounting for about 50% turnover; in all, formulations or finished
dosage forms, account for 93% of the turnover. Manufacturing is across 26 locations, including
plants in the US, Canada, Brazil, Mexico and Israel. In the US, the company markets a large
basket of generics, with a strong pipeline awaiting approval from the U.S. Food and Drug
Administration (FDA).

Sun Pharma was listed on the stock exchange in 1994 in an issue oversubscribed 55 times. The
founding family continues to hold a majority stake in the company. Today Sun Pharma is the
second largest and the most profitable pharmaceutical company in India, as well as the largest
pharmaceutical company by market capitalisation on the Indian exchanges.

The Indian pharmaceutical industry has become the third largest producer in the world in terms
of volumes and is poised to grow into an industry of $20 billion in 2015 from the current
turnover of $12 billion.[citation needed] In terms of value India still stands at number 14 in the world.
In 2009 Sun Pharma's Caraco Pharmaceutical's plant in Detroit was closed due to unsanitary
conditions resulting in the seizure of $20 million of drugs by the FDA for contamination issues.

In December 2016 the FDA sent Sun a warning letter about nine violations at its manufacturing
plant in Halol.

Sun Pharma requested the USFDA to withdraw approval for 28 Abbreviated New Drug
Applications (ANDAs) belonging to its wholly owned subsidiary Ranbaxy Laboratories.[12]

Acquisitions and Joint Ventures

Sun Pharma has complemented growth with select acquisitions over the last two decades. In
1996, Sun purchased a bulk drug manufacturing plant at Ahmednagar from Knoll
Pharmaceuticals and MJ Pharma's dosage plant at Halol that are both U.S. FDA approved today.
In 1997, Sun acquired Tamil Nadu Dadha Pharmaceuticals Limited (TDPL) based in Chennai,
mainly for their extensive gynaecology and oncology brands. Also in 1997, Sun Pharma initiated
their first foray into the lucrative US market with the acquisition of Caraco Pharmaceuticals,
based in Detroit.

In 1998, Sun acquired a number of respiratory brands from Natco Pharma. Other notable
acquisitions include Milmet Labs and Gujarat Lyka Organics (1999), Pradeep Drug Company
(2000), Phlox Pharma (2004), a formulation plant at Bryan, Ohio and ICN, Hungary from
Valeant Pharma and Able Labs (2005), and Chattem Chemicals (2008). In 2010, the company
acquired a large stake in Taro Pharmaceuticals, amongst the largest generic derma companies in
the US, with operations across Canada and Israel. The company currently owns ~ 69% stake in
Taro, for about $260 million.

In 2011, Sun Pharma entered into a joint venture with MSD to bring complex or differentiated
generics to emerging markets (other than India).

In 2012, Sun announced acquisitions of two US companies: DUSA Pharmaceuticals,[15] a

dermatology device company; and generic pharma company URL Pharma [16] In 2013, the
company announced an R&D joint venture for ophthalmology with the research
company, Intrexon.

On 6 April 2014, Sun Pharma announced that it would acquire 100% of Ranbaxy Laboratories
Ltd,[18] in an all-stock transaction, valued at $4 billion. Japan's Daiichi Sankyo held 63.4% stake
in Ranbaxy. After this acquisition, Sun Pharma has become the largest pharmaceutical company
in India, the largest Indian Pharma company in the US, and the 5th largest generic company
worldwide

In December 2014, the Competition Commission of India approved Sun Pharma's $3.2 billion
bid to buy Ranbaxy Laboratories, but ordered the firms to divest seven products to ensure the
deal doesn't harm competition.[20][21]

In March 2015, Sun Pharma announced it had agreed to buy GlaxoSmithKline's opiates business
in Australia to strengthen its pain management portfolio.

SPARC

In 2007, Sun Pharma demerged its innovative R&D arm, and listed it separately on the stock
market as the Sun Pharma Advanced Research Company Ltd. (NSE: SPARC, BSE: 532872). In
2013, SPARC declared revenue of Rs. 873 million.[22] SPARC focuses on new chemical entities
(NCE) research and new drug delivery systems and offers an annual update[23] of its pipeline
(NDDS).

Awards

Sun Pharma stood second in the India's Most Reputed Brands (Pharmaceutical) list [25] in a study
conducted by BlueBytes,[26] a leading Media Analytics firm in association with TRA
Research,[27] a brand insights organization (both a part of the Comniscient Group).
Type Public

Traded as BSE: 500257

NSE: LUPIN

Industry Pharmaceuticals/OTC/FMCG

Founded 1968 [1]

Founder Desh Bandhu Gupta[2]

Headquarters Mumbai, Maharashtra[3], India

Key people Vinita D. Gupta, Chief Executive

Officer ;[4] Nilesh Gupta, Managing
director [5]Dr Kamal Sharma, Vice
Chairman [6]

Products Pharmaceuticals, branded

and generic drugs,

Revenue $2.55 billion USD (2016-2017)

[7]

Net income $721 million USD (2016-

2017) [8]

Number of 15000+ [9]

employees

Subsidiaries Lupin Pharmaceuticals, Inc. ,

 Kyowa Pharmaceutical Industry
Co. Ltd, I’rom Pharmaceutical Co.
Ltd., Pharma Dynamics, Multicare
Pharmaceuticals, Generic Health
Pte. Ltd. Hormosan Pharma GmbH
Nanomi B.V., Laboratorios Grin,
Medquimica, Biocom Russia,
Temmer Germany

Website www.lupin.com

Lupin Limited is a transnational pharmaceutical company based in Mumbai. It is the seventh-

largest company by market capitalization; and the 10th-largest generic pharmaceutical company
by revenue globally.

History and evolution

Lupin was founded in 1968 by Desh Bandhu Gupta,[14] then an Associate Professor at BITS-
Pilani, Rajasthan. Named after the Lupin flower because of its inherent qualities and what it
personifies and stands for, the company was created with a vision to fight life-threatening
infectious diseases and to manufacture drugs of the highest social priority. Gupta died on 26 June
2017 and was replaced as chairman by his wife, Manju Deshbandhu Gupta.[citation needed]
Lupin first gained recognition when it became one of the world’s largest manufacturers
of tuberculosis drugs.[15] The company today has a significant market share in key markets in
the cardiovascular (prils and statins), Diabetology, asthma, pediatrics, CNS, GI, anti-infectives
and NSAIDs therapy segments. It also has a global leadership position in the anti-TB
and Cephalosporinsegments.
Lupin’s foray into advanced drug delivery systems has resulted in the development of platform
technologies that are being used to develop value-added generic pharmaceuticals. Its
manufacturing facilities, spread across India and Japan, have played a critical role in enabling the
company realize its global aspirations. Benchmarked to International standards, these facilities
are approved by international regulatory agencies including the US FDA, UK MHRA,
Japan’s MHLW, TGA Australia, WHO, and the MCC South Africa.
In July 2015 the company announced its intention to acquire Gavis Pharmaceuticals and Novel
Laboratories for $880 million.

Research and development

Lupin’s research program covers the entire pharma product chain. The company’s R&D program
is headquartered in the Lupin Research Park located near Pune that houses over 1400 scientists.
Lupin’s R&D covers:
 Generics Research
 Process Research
 Pharmaceutical Research
 Advanced Drug Delivery Systems (ADDS) Research
 Intellectual Property Management
 Novel Drug Discovery and Development (NDDD)
 Biotechnology Research
Businesses
Lupin’s businesses encompass the entire pharmaceutical value chain, ranging from branded
and generic formulations, APIs, advanced drug delivery systems to biotechnology. The
company’s drugs reach 70 countries[18] with a footprint that covers advanced markets such as
USA, Europe, Japan,[19] Australia as well as emerging markets including India,[20] the
Philippines and South Africa to name a few.
Key markets and businesses
USA
Headquartered in Baltimore, Maryland, Lupin Pharmaceuticals Inc. (LPI) ], the company's
US subsidiary is a $891 million enterprise.[21] It has a presence in the branded and generics
markets of the US. In the branded business, Lupin operates in the CVS
and Pediatric segments. The company is the market leader in 28 products out of the 77
products marketed in the US generics market, of which it is amongst the Top 3 by market
share in 57 of these products (IMS Health, December 2014): Suprax (Cefixime), a paediatric
antibiotic, is Lupin’s top-selling product here. Other products in Lupin's branded portfolio
include Antara< (Fenofibrate), Locoid lotion, Alinia (Nitazoxanide) and InspiraChambers
(Anti-static valved holding chamber). The company is also the 5th largest and fastest
growing generics player in the US (5.3% market share by prescriptions, IMS Health). Lupin's
US brands business contributed 9% of total US sales whereas the generics business
contributed 91% during FY 2014-15.

India Region Formulations (IRF)

Lupin’s IRF business focuses on Lifestyle diseases and Chronic disease therapy segments,
particularly in Cardiology, Central Nervous System (CNS), Diabetology, Anti-Asthma, Anti-
Infective, Gastro Intestinal and Oncology. The IRF business contributed 24% of the
company’s overall revenues for FY 2014-15, growing by 20% and recording revenues
of ₹29,676 million (US$450 million) for FY 2014-15 as compared to ₹24,794
million (US$380 million) for FY 2013-14.
It has 10 manufacturing plants and 2 Research plants in India, as Jammu(J&K),Mandideep &
Indore(Madhya pradesh), Ankaleswar & Dabasa (Gujarat), Tarapur, Aurangabad and Nagpur
(Maharashtra) and Goa; where research centre at Pune and Aurangabad.[23] Among these the
baby plant is Nagpur plant which will the biggest formulation unit for Lupin in coming year.
Europe
Lupin’s focus in the European Union encompasses Anti-Infectives, Cardiovascular, and CNS
therapy areas, along with niche opportunities in segments like Oral Contraceptives,
Dermatology and Ophthalmics. The company’s presence in France is by way of a trade
partnership; in Germany, it operates through its acquired entity Hormosan Pharma GmbH. ]
(Hormosan);[24] while the UK business is a direct-to-market initiative.
Japan
Lupin is the fastest-growing Top 10 generic pharmaceuticals player in Japan (IMS). It
operates in Japan through its subsidiary, Kyowa Pharmaceutical Industry Co. Ltd. (Kyowa),
a company acquired in 2007,[25][26] and I’rom, Pharmaceutical Co. Ltd (IP), acquired in
2011. Kyowa has an active presence in Neurology, Cardiovascular, Gastroenterology and the
Respiratory therapy segments. I'rom is a niche injectables company.
In 2014, Lupin entered into a strategic joint venture agreement with Toyama-based Japanese
pharmaceuticals company, Yoshindo Inc. to create YL Biologics (YLB).[29] YLB will be
jointly managed by both partners and wil be responsible for conducting clinical development
of certain biosimilars including regulatory fillings and obtaining marketing authorization in
Japan.
South Africa
Lupin's South African subsidiary, Pharma Dynamics (PD)[30] is the fastest growing and the
4th largest generic company in the South African market (IMS). The company is a market
leader in the Cardiovascular segment and has a growing presence in Neurology,
Gastroenterology and the Over the Counter (OTC) segments.
Australia
Lupin entered the Australian market through its subsidiary, Generic Health Pte. Ltd.
(GH).[31] It subsequently acquired the worldwide marketing rights to the over-100-year-old
Australian brand Goanna,[32] used for pain management.
Philippines
Lupin's Philippines subsidiary Multicare Pharmaceuticals (Multicare),[33] is a branded
generic company focused on Women's Health, Pediatrics, Gastro-Intestinal and Diabetes
care. FY 2012 also marked its foray into the Neurology segment when it entered into a
strategic marketing partnership with Sanofi.[34]
Mexico & Latin America
In 2014, Lupin acquired 100% equity stake in Laboratories Grin, S.A. De C.V. (Grin),
Mexico, a specialty pharmaceutical company engaged in the development, manufacturing
and commercialization of branded ophthalmic products. This marked their entry into Mexico
and the larger Latin American pharmaceuticals market. In May 2015, Lupin entered the
Brazilian market with its acquisition of 100% stake in Medquímica Indústria Farmacêutica
S.A., Brazil, (Medquímica).
Anti-Tuberculosis
Lupin is a global leader in Cephalosporins, Cardiovasculars and the anti-TB space. The
company is also a strategic supplier of anti-TB products to the Stop TB Partnership, with its
formulations supplied to more than 50 countries through GDF procurement.
Rgwduen is also a global leader in anti-TB APIs, and is associated with the Revised National
Tuberculosis Control Program of the Government of India. It supplies to various
Government agencies, the Stop TB Partnership and various other international agencies
like Pan American Health Organization (PAHO), Médecins Sans Frontières (MSF) and the
Damien Foundation. Ethambutol, Rifampicin and Pyrazinamide are the company’s top
selling TB molecules.
Biotechnology research
The Lupin Biotechnology Research Group, based out of Ghotawade & Wakad, near Pune is
focussed on developing biosimilars. As of May 2013, it has a pipeline of 10 biosimilar
products under development, and is close to getting marketing authorization for 2 of its
oncology products for the Indian market. Lupin has competencies for the complete
development and manufacture of recombinant protein therapeutic products from high
yielding and proprietary microbial and mammalian cell culture platforms. The Biotech R&D
infrastructure offers a range of product development capabilities ranging from clone
development, process optimization, analytical method development, bioassay, formulation,
stability studies, non-clinical and clinical studies backed by a sound understanding of
regulatory and IP aspects. The company’s biotech development programs are in compliance
of and follow IC, EMEA, and Indian Regulatory guidelines.

Corporate social responsibility

Lupin established the Lupin Human Welfare & Research Foundation on 2 October 1988. Its
chief objective was to provide an alternative sustainable, replicable and ever evolving model
of holistic rural development. It started with a few small rural development projects covering
around 35 villages in Bharatpur District, Rajasthan. Its efforts have touched the lives of over
a million people in 3100 villages in the states of Rajasthan, Madhya
Pradesh, Maharashtra and Uttarakhand.

Awards and Recognitions

Lupin topped in the India's Most Reputed Brands (Pharmaceutical) list in a study conducted
by Blue Bytes, a leading Media Analytics firm in association with TRA Research, a brand
insights organization (both a part of the Comniscient Group).
Dr. Reddy's Laboratories Ltd

Type Public

Traded as NSE: DRREDDY

BSE: 500124
NYSE: RDY

Industry Pharmaceuticals

Founded 1984

Founders Kallam Anji Reddy

Headquarters Hyderabad, Andhrapradesh, India

Area served Worldwide

Key people G. V. Prasad (CEO)

Satish Reddy (Chairman)

Revenue ₹32,081 crore(US$4.9 billion)

(2017)

Net income ₹9,151.40 crore(US$1.4 billion)

(2016)[1]

Total assets ₹50,010.40

crore(US$7.7 billion) (2016)

Total equity ₹82.80 crore(US$13 million)

(2016)
 Number of 50,373 (April 2015)
employees

Website www.drreddys.com

Dr. Reddy's Laboratories is an Indian multinational pharmaceutical company based

in Hyderabad, Telangana, India. The company was founded by Anji Reddy, who previously
worked in the mentor institute Indian Drugs and Pharmaceuticals Limited, of Hyderabad,
India. Dr. Reddy's manufactures and markets a wide range of pharmaceuticals in India and
overseas. The company has over 190 medications, 60 active pharmaceutical ingredients (APIs)
for drug manufacture, diagnostic kits, critical care, and biotechnology products.

Dr. Reddy's began as a supplier to Indian drug manufacturers, but it soon started exporting to
other less-regulated markets that had the advantage of not having to spend time and money on
a manufacturing plant that would gain approval from a drug licensing body such as the U.S.
Food and Drug Administration (FDA). By the early 1990s, the expanded scale and profitability
from these unregulated markets enabled the company to begin focusing on getting approval from
drug regulators for their formulations and bulk drug manufacturing plants in more-developed
economies. This allowed their movement into regulated markets such as the US and Europe. In
2014, Dr. Reddy Laboratories was listed among 1200 of India's most trusted brands according to
the Brand Trust Report 2014, a study conducted by Trust Research Advisory, a brand analytics
company.

By 2007, Dr. Reddy's had seven FDA plants producing active pharmaceutical ingredients in
India and seven FDA-inspected and ISO 9001 (quality) and ISO 14001 (environmental
management) certified plants making patient-ready medications – five of them in India and two
in the UK.

In 2010, the family-controlled Dr Reddy's denied[5] that it was in talks to sell its generics
business in India to US pharmaceutical giant Pfizer,[6] which had been suing the company for
alleged patent infringement after Dr Reddy's announced that it intended to produce a generic
version of atorvastatin, marketed by Pfizer as Lipitor, an anti-cholesterol medication. Reddy's
was already linked to UK pharmaceuticals multinational Glaxo Smithkline.
Company history

Dr. Reddy's originally launched in 1984 producing active pharmaceutical ingredients. In 1986,
Reddy's started operations on branded formulations. Within a year Reddy's had launched Norilet,
the company's first recognized brand in India. Soon, Dr. Reddy's obtained another success with
Omez, its branded omeprazole – ulcer and reflux oesophagitis medication – launched at half the
price of other brands on the Indian market at that time.

Within a year, Reddy's became the first Indian company to export the active ingredients for
pharmaceuticals to Europe. In 1987, Reddy's started to transform itself from a supplier of
pharmaceutical ingredients to other manufacturers into a manufacturer of pharmaceutical
products.

International expansion

The company's first international move took it to Russia in 1992. There, Dr. Reddy's formed a
joint venture with the country's biggest pharmaceuticals producer, Biomed. They pulled out in
1995 amid accusations of scandal, involving "a significant material loss due to the activities of
Moscow's branch of Reddy's Labs with the help of Biomed's chief executive".[10]Reddy's sold the
joint venture to the Kremlin-friendly Sistema group. In 1993, Reddy's entered into a joint venture
in the Middle East and created two formulation units there and in Russia. Reddy's exported bulk
drugs to these formulation units, which then converted them into finished products. In 1994,
Reddy's started targeting the US generic market by building state of art manufacturing facility.

New drug discovery

Biopharma Finished Dosage Unit III in Hyderabad

Biopharma Finished Dosage Unit I in Hyderabad

Reddy's path into new drug discovery involved targeting speciality generics products in western
markets to create a foundation for drug discovery. Development of speciality generics was an
important step for the company's growing interest in the development of new chemical entities.
The elements involved in creating a speciality generic, such as innovation in the laboratory,
developing the compound, and sending the sales team to the market, are also stages in the
development of a new specialty drug. Starting with speciality generics allowed the company to
gain experience with those steps before moving on to creating brand-new drugs.

Reddy's invested heavily in establishing R&D labs and is the only Indian company to have
significant R&D being undertaken overseas. Dr. Reddy's Research Foundation was established in
1992 and in order to do research in the area of new drug discovery. At first, the foundation's drug
research strategy revolved around searching for analogues. Focus has since changed to
innovative R&D, hiring new scientists, especially Indian students studying abroad on doctoral
and post-doctoral courses. In 2000, the Foundation set up an American laboratory in Atlanta,
dedicated to discovery and design of novel therapeutics. The laboratory is called Reddy US
Therapeutics Inc (RUSTI) and its main aim is the discovery of next-generation drugs
using genomics and proteomics. Reddy's research thrust focused on large niche areas in western
markets – anti-cancer, anti-diabetes, cardiovascular and anti-infection drugs.

Reddy's international marketing successes were built on a strong manufacturing base which itself
was a result of inorganic growththrough acquisition of international and national facilities.
Reddy's merged Cheminor Drug Limited (CDL) with the primary aim of supplying active
pharmaceutical ingredients to the technically demanding markets of North America and Europe.
This merger also gave Reddy's an entry into the value-added generics business in the regulated
markets of APIs. <APIs in medicine
Expansion and acquisition

By 1997, Reddy's made the transition from being an API and bulk drug supplier to regulated
markets like the USA and the UK, and a branded formulations supplier in unregulated markets
like India and Russia, into producing generics, by filing an Abbreviated New Drug
Application (ANDA) in the USA. The same year, Reddy's out-licensed a molecule for clinical
trials to Novo Nordisk, a Danish pharmaceutical company.

It strengthened its Indian manufacturing operations by acquiring American Remedies Ltd. in

1999. This acquisition made Reddy’s the third largest pharmaceutical company in India,
after Ranbaxy and Glaxo (I) Ltd., with a full spectrum of pharmaceutical products, which
included bulk drugs, intermediates, finished dosages, chemical synthesis, diagnostics and
biotechnology.

Reddy’s also started exploiting Para 4 filing as a strategy in bringing new drugs to the market at
a faster pace. In 1999 it submitted a Para 4 application for omeprazole, the drug that had been the
cornerstone of its success in India. In December 2000, Reddy’s had undertaken its first
commercial launch of a generic product in the USA., and its first product with market exclusivity
was launched there in August 2001. The same year, it also became the first non-Japanese
pharmaceutical company from the Asia-Pacific region to obtain a New York Stock
Exchange listing, ground-breaking achievements for the Indian pharmaceutical industry.

In 2001 Reddy’s became the first Indian company to launch the generic drug, fluoxetine (a
generic version of Eli Lilly and Company’s Prozac) with 180-day market exclusivity in the USA.
Prozac had sales in excess of $1 billion per year in the late 1990s. Barr Laboratories of the U.S.
obtained exclusivity for all of the approved dosage forms (10 mg, 20 mg) except one (40 mg),
which was obtained by Reddy’s. Lilly had numerous other patents surrounding the drug
compound and had already enjoyed a long period of patent protection. The case to allow generic
sales was heard twice by the Federal Circuit Court, and Reddy’s won both hearings. Reddy’s
generated nearly $70 million in revenue during the initial six-month exclusivity period. With
such high returns at stake, Reddy’s was gambling on the success of the litigation; failure to win
the case could have cost them millions of dollars, depending on the length of the trial.

The fluoxetine marketing success was followed by the American launch of Reddy's house-
branded ibuprofen tablets in 400, 600 and 800 mg strengths, in January 2003. Direct
marketing under the Reddy’s brand name represented a significant step in the company’s efforts
to build a strong and sustainable US generic business. It was the first step in building Reddy’s
fully-fledged distribution network in the US market.[citation needed]

In 2015, Dr. Reddy's Laboratories bought the established brands of Belgian drugmaker UCB SA
in South Asia for 8 billion rupees ($128.38 million). Dr. Reddy's Laboratories also signed a
licensing pact with XenoPort for their experimental treatment to treat plaque psoriasis. As per the
agreement, Dr. Reddy’s will be granted exclusive US rights to develop and commercialize
XP23829 for all indications for an upfront payment of $47.5 million.

American IPO and expansion into Europe

In 2001 Reddy’s completed its US initial public offering of $132.8 million, secured by American
Depositary Receipts. At that time the company also became listed on the New York Stock
Exchange. Funds raised from the initial public offering helped Reddy’s move into international
production and take over technology-based companies.

In 2002, Reddy’s started its European operations by acquiring two pharmaceutical firms in the
United Kingdom. The acquisition of BMS Laboratories and its wholly owned subsidiary,
Meridian UK, allowed Reddy’s to expand geographically into the European market. In 2003
Reddy’s also invested $5.25 million (USD) in equity capital into Bio Sciences Ltd.

Auriegene Discovery Technologies, a contract research company, was established as a fully

owned subsidiary of Reddy’s in 2002. Auriegene's objective was to gain experience in drug
discovery through contract research for other pharmaceutical companies. Reddy’s entered into a
venture investment agreement with ICICI Bank, an established Indian banking company. Under
the terms of the agreement, ICICI Venture agreed to fund the development, registration and legal
costs related to the commercialization of ANDAs on a pre-determined basis. Upon
commercialization of these products, Dr. Reddy's pays ICICI Venture royalty on net sales for a
period of 5 years.

Global expansion

The company elected to expand globally, and acquired other entities. In March 2002, Dr.
Reddy’s acquired BMS Laboratories, Beverley, and its wholly owned subsidiary Meridian
Healthcare, for 14.81 million Euros. These companies deal in oral solids, liquids and packaging,
with manufacturing facilities in London and Beverley in the UK. Recently, Dr. Reddy’s entered
into an R&D and commercialization agreement with Argenta Discovery Ltd., a private drug
development company based in the UK, for the treatment of chronic obstructive pulmonary
disease (COPD).

Dr. Reddy’s entered into a 10-year agreement with Rheoscience A/S of Denmark for the joint
development and commercialization of Balaglitazone (DRF-2593), a molecule for the treatment
of type-2 diabetes. Rheoscience holds this product’s marketing rights for the European
Union and China, while the rights for the US and the rest of the world will be held by Dr.
Reddy’s. Dr. Reddy’s conducted clinical trials of its cardiovascular drug RUS 3108
in Belfast, Northern Ireland, in 2005. The trials were conducted to study the safety and the
pharmacokinetic profiles of the drug, which is intended for the treatment of atherosclerosis, a
major cause of cardiovascular disorders.

Dr. Reddy’s entered into a marketing agreement with Eurodrug Laboratories, a pharmaceutical
company based in Netherlands, for improving its product portfolio for respiratory diseases. It
introduced a second-generation xanthine bronchodilator, Doxofylline, which is used for the
treatment of asthma and COPD patients.

In 2004, Reddy’s acquired Trigenesis Therapeutics Inc; a US-based private dermatology

company. This acquisition gave Reddy’s access to proprietary products and technologies in
the dermatology sector.

Dr. Reddy’s Para 4 application strategy for generic business received a severe setback when
Reddy’s lost the patent challenge in the case of Pfizer’s drug Norvasc (amlodipine maleate), a
drug indicated for the treatment of hypertension and angina. The cost involved in patent
litigation as well as the unexpected loss of the patent challenge affected Reddy’s plans to start
speciality business in the US generic markets.

In March 2006, Dr. Reddy’s acquired Betapharm Arzneimittel GmbH from 3i for 480 million
Euros. This is one of the largest-ever foreign acquisitions by an Indian pharmaceutical company.
Betapharm is Germany’s fourth-largest generics pharmaceutical company, with a 3.5% market
share, including 150 active pharmaceutical ingredients.
Reddy’s has promoted India’s first integrated drug development company Perlecan Pharma Pvt
Ltd together with ICICI ventures capital fund management company Ltd and CitigroupVenture
Capital International growth partnership Mauritius Ltd. The combined entity will undertake
clinical development and out-licensing of new chemical entity assets.

Dr. Reddy's is presently licensed by Merck & Co. to sell an authorized generic version of the
popular drug simvastatin (Zocor) in the USA. Since Dr. Reddy's has a license from Merck, it was
not subject to the exclusivity period on generic simvastatin.

As of 2006, Dr. Reddy’s Laboratories exceeded $500 million USD in revenues, flowing from
their APIs, branded formulations and generics segments; the former two segments account for
almost 75% of revenues. Dr. Reddy's deals in and manages all the processes, from the
development of the API to the submission of finished dosage dossiers to the regulatory agencies.

Patient-Centric Initiatives

In September 2016, Dr. Reddy’s launched “Purple Health” in India, a patient centric platform to
deliver solutions that address unmet needs of patients.[14] Purple Health will address unmet needs
of patients involving four segments: awareness, access (access to medication), adherence
(adherence to therapy) and experience (simplified medication experience).[15] The first step in
this program will be the launch of new patient friendly packaging for its top 25 best-selling
brands, which will be rolled-out in a phased manner over the next six months. The packaging has
been designed such that blister packs would have extra space for brand name which ensures easy
identification at the pharmacy, a tab at the bottom with expiry date clearly mentioned, and a
pictorial representation of the time the medicine needs to be taken. In case of bottles, the
measuring cup is now easy to read, and neck of the bottle has been modified to ensure minimal
spillage.[15][16] Purple Health also includes patient support services. For example, someone taking
medicines for an advanced kidney condition would be supported by messages and counselling on
diet, medicine and so on.

Issues and recalls

Drug discovery problems

In September 2005, Dr. Reddy's spun off its drug discovery and research wing into a separate
company called Perlecan Pharma Private Limited. At the time, this was hailed as an innovative
move, but in 2008, the company had to be wound down due to funding constraints.[17] Dr.
Reddy's was the first Indian pharma company to attempt such an effort to de-couple risk of drug
discovery from the parent company by creating a separate company with external source of
funding. Perlecan Pharma was partially funded by ICICI Venture Capital and Citigroup Venture
International, both of which held a 43% stake in Perlecan for an estimated $22.5 million.
However, the company was forced to buy back the Perlecan shares from ICICI and Citigroup due
to doubts regarding the commercial viability of the drug candidates that were in Perlecan's
pipeline. At that point, Perlecan became a wholly owned subsidiary. In the board meeting of 23
October 2008, the company chose to amalgamate/absorb Perlecan, thereby making it an in-house
research facility, as it was before 2005.

In 2009, the company did a U-turn and has handed over discovery research and related
intellectual property to its Bangalore-based subsidiary, with the possibility of spinning it off as a
different entity altogether. "The company may be hoping to find a strategic partner in the future
to share the risks and research funding."

2011 recall

In June 2011, certain lots of Dr. Reddy's generic simvastatin tablets were recalled due to tablets
having a "musty" or "moldy" smell.

On June 24, 2014, the New York Times published an article "Warning Unheeded, Heart Drugs
Are Recalled" in which it said another large Indian manufacturer and "Dr. Reddy's Laboratories,
have announced recalls over the past two months totalling more than 100,000 bottles" of "a
widely used heart drug, Toprol XL" "because their products were not dissolving properly".

2014 FDA Form 483

In December 2014 the FDA issues a Form 483 letter over concerns discovered during an
inspection of its Srikakulam facility. No specific violations were mentioned in the letter.
Cipla Limited

Type Public

Traded as BSE: 500087

NSE: CIPLA
BSE SENSEX Constituent
CNX Nifty Constituent

Industry Pharmaceuticals

Founded 1935

Founder Dr. K. A. Hamied

Headquarters Mumbai, Maharashtra, India

Area served Worldwide
Key people Y. K. Hamied, Chairman
Umang Vohra (CEO)

Products Pharmaceuticals and diagnostics

Revenue ₹104.83
billion (US$1.6 billion) (2013-
14)[1]
Operating ₹18.80
income billion (US$290 million) (2012-
13)[1]
Net income ₹13.89
billion (US$210 million) (2013-
14)[1]

Total assets ₹109.68

billion (US$1.7 billion) (2013-
14)[1]

Total equity ₹100.91

billion (US$1.5 billion) (2013-
14)[1]
 Number of 22,036[2]
employees

Cipla Limited is an Indian multinational pharmaceutical and biotechnology company,

headquartered in Mumbai, India. Cipla primarily develops medicines to
treat respiratory, cardiovascular disease, arthritis, diabetes, weight control and depression; other
medical conditions.

As of 17 September 2014, its market capitalisation was ₹517 billion (US$7.9 billion)(US$7.7
billion), making it India's 42nd largest publicly traded company by market value.[4][5][6]

History

It was founded by Khwaja Abdul Hamied as 'The Chemical, Industrial

& Pharmaceutical Laboratories' in 1935 in Mumbai.[7][8] The name of the Company was changed
to 'Cipla Limited' on 20 July 1984.[8] In the year 1985, US FDA approved the company's bulk
drug manufacturing facilities.[9] Led by the founder’s son Yusuf Hamied, a Cambridge-educated
chemist, the company provided generic AIDS and other drugs to treat poor people in the
developing world.[10] In 1994, Cipla launched Deferiprone, the world’s first oral iron
chelator.[7] In 2001, Cipla offered medicines (antiretrovirals) for HIV treatment at a fractional
cost (less than $350 per year per patient).

In 2013 Cipla acquired the South African company Cipla-Medpro, kept it as a subsidiary, and
changed its name to Cipla Medpro South Africa Limited.[12][13] At the time of the acquisition
Cipla-Medpro had been a distribution partner for Cipla and was South Africa's third biggest
pharmaceutical company.[12] The company had been founded in 2002 and was known as Enaleni
Pharmaceuticals Ltd.[14] In 2005, Enaleni bought all the shares of Cipla-Medpro, which had been
a joint venture between Cipla and Medpro Pharmaceuticals, a South African generics
company,[15] and in 2008 it changed its name to Cipla-Medpro.

Products and services

Cipla sells active pharmaceutical ingredients to other manufacturers as well as pharmaceutical

and personal care products, including Escitalopram (anti-
depressant), Lamivudineand Fluticasone propionate. They are the world's largest manufacturer
of antiretroviral drugs .

Operations

Cipla has 34 manufacturing units in 8 locations across India and has presence in 100 countries.
Exports accounted for 48% ₹49.48 billion (US$760 million) of its revenue for FY 2013-
14. Cipla spent INR 517 cr. (5.4% of revenue) in FY 2013-14 on R&D activities. The primary
focus areas for R&D were development of new formulations, drug-delivery systems and APIs
(active pharmaceutical ingredients). Cipla also cooperates with other enterprises in areas such as
consulting, commissioning, engineering, project appraisal, quality control, know-how transfer,
support, and plant supply.

As on 31 March 2013, the company had 22,036 employees (out of which 2,455 were women
(7.30%) and 23 were employees with disabilities (0.1%)).[2] During the FY 2013-14, the
company incurred ₹12.85 billion (US$200 million) on employee benefit expenses.

Listings and shareholding

The equity shares of Cipla are listed on the Bombay Stock Exchange,[21] where it is a constituent
of the BSE SENSEX index,[22] and the National Stock Exchange of India,[23] where it is a
constituent of the CNX Nifty.[24] Its Global Depository Receipts (GDRs) are listed on
the Luxembourg Stock Exchange.

As on 30 September 2014, the promoter group, Y. K. Hamied and his family, held around
36.80% equity shares in Cipla. Around 148,000 individual shareholders held approx. 18.67% of
its shares.[25] LIC is the largest non-promoter shareholder with approx. 6.45% shareholding in the
company by the end of September 2013.

Shareholders (as on 31-March-2014) Shareholding[25]

Promoter Group 36.80%

Foreign Institutional Investors (FII) 23.32%

Individual shareholders 19.00%

Insurance companies 06.59%

Private Corporate Bodies 04.68%

Mutual Funds and UTI 04.43%

NRI/FCB/Others 03.46%

GDRs 01.10%

Total 100.0%

Awards and recognitions

 In 2012, Cipla received the Thomson Reuters India Innovation Award.

 Cipla won Dun & Bradstreet American Express Corporate Awards for 2006.
 In 2005, Forbes included Cipla in the 200 'Best under a billion' list of best small Asian
companies.
 In 1980, Cipla won Chemexcil Award for Excellence for exports.
 Cipla stood third in the India's Most Reputed Brands (Pharmaceutical) list in a study
conducted by BlueBytes,[31] a leading Media Analytics firm in association with TRA
Research, a brand insights organization (both a part of the Comniscient Group).
Criticism
Emergency contraception

In August 2007, Cipla launched an emergency contraception drug "i-pill" sold over the
counter,[33] which was controversial with regard to its being available without a prescription and
the large amount of drug contained per dose.

Generic drugs

In the late 1960s, Cipla began manufacturing a new, patented drug, propranolol, without the
permission of the drug's patent holder, Imperial Chemical Industries (ICI), which protested to the
Indian government. The CEO of Cipla successfully lobbied the government of Indira Gandhi to
change India's patent laws to eliminate patents that directly covered drugs, and instead to allow
only patents that covered methods to make drugs.[36] This change made propranolol and other
patented drugs generic and led to criticism of both India's patent laws and Cipla. India reinstated
patents on drugs in 2005.
Aurobindo Pharma Limited

Type Public

Traded as NSE: AUROPHARMA

BSE: 524804

Industry Pharmaceuticals

Founded 1986

Headquarters Hyderabad, Telangana, India

Key people P.V.Ramprasad Reddy

Mr. K. Nityananda Reddy
Mr. Govind
Dr. A Rama Mohana Rao
Madhan Mohan Reddy

Products Formulation
Active Pharmaceutical Ingredient
Organic Intermediates

Revenue ₹136.50
billion(US$2.1 billion)[1] (2017)

Net income ₹19.780

billion(US$300 million)[2] (2017)

Number of 16000[3] (March 2017)

employees

Website www.aurobindo.com
Aurobindo Pharma Limited is a pharmaceutical manufacturing company headquartered
in HITEC City, Hyderabad, India. The company manufactures generic pharmaceuticals and
active pharmaceutical ingredients. The company’s area of activity includes six major
therapeutic/product areas: antibiotics, anti-retrovirals, cardiovascular products, central nervous
system products, gastroenterologicals, and anti-allergics. The company markets these products in
over 125 countries. Its marketing partners include AstraZeneca[4] and Pfizer

Company

The company commenced operations in 1988-89 with a single unit manufacturing semi-
synthetic penicillin (SSP) in Puducherry. Aurobindo Pharma became a public company in 1992
and listed its shares in the Indian stock exchanges in 1995. Aurobindo Pharma also has a
presence in key therapeutic segments such as neurosciences, cardiovascular, anti-retrovirals,
anti-diabetics, gastroenterology and cephalosporins, among others.

Aurobindo Pharma features among the top 10 companies in India in terms of consolidated
revenues.[citation needed] Aurobindo exports to over 125 countries across the globe with more than
70% of its revenues derived out of international operations.

In 2014, Aurobindo purchased the generic operations of Actavis in 7 Western European

countries for $41 million.

Business Expansion

Aurobindo Pharma plans to expand its product portfolio with high value products
in oncology, hormones, biosimilars and novel drug delivery solutions like depot injections,
inhalers, patches and films. It has also set its sights on geographic expansion in new territories
like Poland, Italy, Spain, Czech Republic, Portugal and France as generic penetration in these
countries is low.

In 2017, Aurobindo Pharma inked a pact to acquire Portugal’s Generis Farmaceutica SA from
Magnum Capital Partners for a consideration of €135 million.[9] It also acquired four biosimilar
products from Swiss firm TL Biopharmaceutical AG.
Legal issues

In December 2016, the attorneys general of 20 states filed a civil complaint accusing Aurobindo
Pharma of a coordinated scheme to artificially maintain high prices for a generic antibiotic and
diabetes drug. The complaint alleged price collusion schemes between six pharmaceutical firms
including informal gatherings, telephone calls, and text messages.

On April 11, 2018, Aurobindo shows up in a shocking Dutch television program Zembla (TV
series)[12]. In this documentary the company is being accused for both environmental damage and
poor conditions for their employees in Hyderabad, India.
 Piramal Enterprises Ltd

Type Public company

 BSE: 500302
Traded as
 NSE: PEL

Industry Conglomerate

Founded 1988

Headquarters Mumbai, Maharashtra, India

Area served Worldwide

Key people  Ajay Piramal

 Swati Piramal
 Nandini Piramal
 Anand Piramal

Revenue ₹36,710.5
million(US$560 million) (2010)[1]

Net income ₹4,817.4 million(US$74 million)

(2010)

Website www.piramal.com/piramal-
enterprises

Piramal Enterprises Limited, formerly Piramal Healthcare Limited, is a diversified company

headquartered in Mumbai, India and also a member of the Piramal Group. The company has a
presence in the pharmaceutical, financial services and information management sectors. Ajay G
Piramal is the Chairman of the company.

In 2015, the company announced its intention to acquire Coldstream Laboratories

for US$30,650,000.[2] This acquisition provides the company with a manufacturing facility
in Lexington, Kentucky, and expands the company's ability to develop sterile injectable products.
 Glenmark Pharmaceuticals

Type Public company

Industry Pharmaceuticals

Founded 1977

Founders Gracias Saldanha

Headquarters Mumbai, India

Area served Global

Key people Glenn Saldanha, MD & Chairman

Products Medicines and vaccines

Website glenmarkpharma.com

Glenmark Pharmaceuticals is a pharmaceutical company headquartered in Mumbai, India that

was founded in 1977 by Gracias Saldanha as a generic drug and active pharmaceutical
ingredient manufacturer; he named the company after his two sons. The company initially sold
its products in India, Russia, and Africa. The company went public in India in 1999, and used
some of the proceeds to build its first research facility. Saldanha's son Glenn took over as CEO
in 2001, having returned to India after working at PricewaterhouseCoopers. By 2008 Glenmark
was the fifth-biggest pharmaceutical company in India.

By 2011 the founder of the company was one of the richest men in India, and Glenmark had
worldwide sales of $778 million, a 37% increase over the last year's sales; the growth was driven
by Glenmark's entry into the US and European generics markets.

In the mid-2010s the generics industry in general began transitioning to the end of an era of
giant patent cliffs in the pharmaceutical industry; patented drugs with sales of around $28 billion
were set to come off patent in 2018, but in 2019 only about $10 billion in revenue was set to
open for competition, and less the next year. Companies in the industry responded
with consolidation or trying to generate new, patented drugs.

Glenn Saldanha took the company down the path of seeking innovation, which was controversial
within the company and with shareholders.[4] The company focused on new drugs
and biosimilars in the fields of cancer, dermatology and respiratory diseases, which it sought to
monetize by partnering with big pharma companies. In 2016 it had four such drugs in clinical
trials.[6] For the financial year 2016–2017 its sales were around 81 billion INR (ca. $1.25 billion),
making it the fourth-biggest Indian pharmaceutical company.
 Torrent Pharmaceuticals Limited

Type Public

Traded as BSE: 500420

Industry Pharmaceuticals

Founded 1959

Headquarters Ahmedabad, India

Key people Sudhir Mehta, Samir Mehta

Revenue INR 66 billion (March

2016)

Net income INR 17.5 billion (March

2016)

Number of 8600 (2014)

employees

Website www.torrentpharma.com

Torrent Pharmaceuticals Ltd. is the flagship company of the Torrent Group. Based in the
Indian city of Ahmedabad. It was promoted by U. N. Mehta, initially as Trinity Laboratories Ltd,
and was later renamed Torrent Pharmaceuticals Ltd.
Torrent Pharmaceuticals operates in more than 50 countries with over 1000 product registrations
globally. Torrent Pharma is active in the therapeutic areas of Cardiovascular (CV), central
nervous system (CNS), gastro-intestinal, diabetology, anti-infective and pain management
segments. It has also forayed into the therapeutic segments of nephrology and oncology while
also strengthening its focus on gynecology and pediatric segments.

It has 7 fully owned subsidiaries:

1. Heumann Pharma GmbH & Co Generica KG, Germany

2. Torrent Pharma GmbH, Germany
3. Torrent do Brasil Ltda., Brazil
4. ZAO Torrent Pharma, Russia
5. Torrent Pharma Inc., United States
6. Torrent Pharma Philippines Inc., Philippines
7. Torrent Pharma Canada Inc., Canada
8. Torrent Pharma UK United Kingdom

Torrent Pharmaceuticals acquired Heumann GmbH, a Pfizer company, in 2005.

Operations[edit]

The company's key areas are Formulations, API, Drug Discovery, Marketing and Sales of Drugs.
Its operations locations are:

 Manufacturing plant at Dahej, Gujarat

 Manufacturing plant at Pithampur, Madhya Pradesh
 Manufacturing plant at Indrad, Mehsana, Gujarat
 Manufacturing plant at Baddi, Himachal Pradesh
 3 Manufacturing plant at Rang-Po,(Sikkim)
 Research Centre, Ahmedabad-Gandhinagar region, Gujarat
 Corporate Office, beside sales India, off. Ashram Road, [Ahmedabad]- Gujarat
 Manufacturing plant at Visakhapatnam (Andhra Pradesh)
Cadila Healthcare Limited

Type Public (BSE: 532321)

Traded as BSE:532321

Industry Pharmaceuticals

Founded 1952

Founder [Ramanbhai Patel]

Headquarters Ahmedabad, India

Key people Ashokbhai Patel, Chairman

Revenue INR 54.7 Billion

(2015) [1]

Net income INR 29.8 Billion (2015)

Number of 13180 (2015)

employees

Website www.zyduscadila.com
Cadila Healthcare (BSE: 532321) is an Indian pharmaceutical company headquartered
at Ahmedabad in Gujarat state of western India. The company is the fourth largest
pharmaceutical company in India,[2] with INR 54.7 Billion revenue (2015).[1] It is a significant
manufacturer of generic drugs.[

History

Cadila was founded in 1952 by Ramanbhai Patel (1925–2001), formerly a lecturer in the L.M.
College of Pharmacy, and his business partner Indravadan Modi. It evolved over the next four
decades into an established pharmaceutical company.

In 1995 the Patel and Modi families split, with the Modi family's share being moved into a new
company called Cadila Pharmaceuticals Ltd. and Cadila Healthcare became the Patel family's
holding company. Cadila Healthcare had its initial public offering on the Bombay Stock
Exchange in 2000 as stock code 532321.

In 2015 the company acquired another Indian pharmaceutical company called German
Remedies. On June 25, 2007, the company acquired Química e Farmacêutica Nikkho do Brasil
Ltda (Nikkho) as part of Zydus Healthcare Brasil Ltda.[4]

In 2010, Cadila Healthcare received a Wellcome Trust Award under the "R&D for Affordable
Healthcare in India" initiative.

In 2014, Cadila Healthcare launched the world's first adalimumab biosimilar under the brand
name Exemptia at one-fifth the originator's price.[5] Zydus Cadila Healthcare has also launched
its first research based drug molecule Saroglitazar in treatment of Diabetic Dyslipidemia under
brand name "Lipaglyn". SoviHep is the first sofosbuvir brand launched in India by Zydus in year
2015.
Products

From nine pharmaceutical production operations in India as well as a Zydus Cadila develops and
manufactures a large range of pharmaceuticals as well as diagnostics, herbal products, skin care
products and other OTC products. Starting from late 2015, having concluded a voluntary license
agreement with Gilead, the company also produces the generics for hepatitis C treatment
(i.e. sofosbivur, distributed under the brand name SoviHep).

The company makes active pharmaceutical ingredients at three sites in India:

Ankleshwar plants

Zydus Cadila's plant complex at Ankleshwar in Bharuch District of Gujarat, has been producing
drug material since 1972. There are around 12 plants in the complex, which is ISO 9002 and ISO
14001 certified approved by the U.S. Food and Drug Administration (FDA). Total plant capacity
at Ankleshwar is around 180 million tonnes.

Vadodara plant

Zydus Cadila's plant at Dhabhasa, in Vadodara District's Padra taluka (in the eastern part of the
district) in Gujarat, was commissioned in 1997 by a company called Banyan Chemicals, and
acquired by Zydus Cadila in 2002. The plant has a 90 million tonne capacity. It is approved by
the U.S. FDA and is also approved to World Health Organization(WHO) good manufacturing
practice (GMP) standards.

Patalganga plant

Zydus Cadila acquired an API plant at Patalganga in Maharashtra state, 70 km from Mumbai,
about 859 km from Nagpur, in the 2001 German Remedies deal. This plant operates to WHO
GMP standards.

Others
Navi Mumbai plant

This operation, at Navi Mumbai in Maharashtra, is a 50/50 joint venture with Nycomed
Pharma of the United States, makes intermediates of the drug pantoprazole.
Mumbai Business Office

This office houses Business Unit India - 2 or German Remedies. This office belonged to German
Remedies (I) Ltd. This company was acquired in 2000. This was the biggest takeover in the
history of the Indian pharmacological industry.

Goa plants

The company's plants at Ponda in the southern Indian state of Goa do formulation work as well
as manufacture oncology drugs and a herbal laxative branded Agiolax based on Psyllium seeds.
These plants also belonged to German Remedies (I) Ltd. and now are part of Business Unit -
Manufacturing of the company.

Baddi plant

In 2004 Zydus commissioned at formulation plant at Baddi, in Himachal Pradesh state of

northern India, which makes solid oral pharmaceuticals.

Sikkim plant

In 2008 Zydus commissioned at formulation plant at Majhitar, in Sikkim state of eastern India.
The Sikkim plant makes solid oral pharmaceuticals and hormones and almost all the domestic
formulations for the company.

In Gujarat, India
Dabhasa plant

Zydus Cadila's API/Bulk Drug Plant in a village about 20 kilometers South

from Vadodara houses one of the largest process research (API) centers in that country. This
plant belonged to Banyan Chemicals which was acquired by Zydus in 2003

Vatva plant

Zydus Cadila's plant at Vatva, an industrial suburb of Ahmedabad, makes products for Animal
Health care division of the company.
Changodar plant

Zydus Cadila's plant at Changodar, 20 kilometres from Ahmedabad on the city's outskirts, until
2015 called Zyfine, manufactures fine chemicals. Zydus is currently constructing a facility at
Changodar to make vaccines for hepatitis B and rabies.

Zydus Research Centre (ZRC) (Changodar)

Zydus's NCE, NME, MBE research facility is the largest of its kind in Indian, with more than
500 post graduate scientists it is working towards the prosperous future of the company and
Indian Pharmaceutical Industry.

Zydus Hospira Oncology Pvt. Ltd. (SEZ, Matoda)

Zydus's joint venture with Hospira Inc. of US manufactures Anti Cancer Injectables at this plant.
This plant is also U.S. FDA approved and situated in Special Economy Zone, about 25
kilometers from Ahmedabad. This SEZ is developed by Zydus Infrastructure Pvt. Ltd., another
group company of Zydus.

Zydus – BSV (SEZ, Matoda)

Zydus's joint venture with Bharat Serum and Vaccine Ltd.'s Plant is another facility located in
the same SEZ.

Zydus Technologies Ltd.(SEZ, Matoda)

Zydus's joint venture with Noveltech Inc. The plant is another facility in the same SEZ for Novel
Drug Delivery Systems.

Nutralite Manufacturing Facility (Changodar)

Zydus manufactures and sells Nutralite (a butter substitute) under the banner of Zydus Wellness
Ltd. This company also manufactures and sells brands as SugraFree, Everyouth, Everyouth
Men'z and D'lite.

"Cadila Healthcare rose 1.34% to Rs 430.60 at 11:56 IST on BSE " said in Business slandered
Corporate control

Zydus Cadila's major shareholder remains the Patel family. Pankaj Patel (born 1951), son of the
founder, is CEO. In 2004 Pankaj Patel was included by Forbes magazine in its annual List of
India's richest people. Forbes estimated Patel's net worth at US$510m, making him India's 26th
richest person.[8] However, in 2005 Patel dropped off the Forbes list due to a fall in the stock
price of Cadila Healthcare. Moreover, there is a team of nine senior level executives, known as
the Executive Committee, who are heads of different operations look after the overall
management processes. None of the members except Pankaj Patel are on the Board of Directors.
The Indian pharmaceutical industry has become the third largest producer in the world and is
poised to grow into an industry of $20 billion in 2015 from the current turnover of $12 billion.