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Sun Pharma's net profit halves, key mgt changes announced

May 29, 2019 10:32 IST

Sun Pharma saw its quarterly profit more than halve, after it took a ₹1,085 crore one-time charge on its books. This comes following a corporate governance scandal that also led to founder Dilip Shanghvi’s brother-in-law moving to a non-executive role. Pharma analysts believe the numbers look okay accounted for the one-off sales adjusted due to change of distribution for India business and the traction seen in the US business. In the last 7 months, Sun Pharma has lost $5.4 billion in market value.

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