Sun Pharma looks to grow complex generics, specialty products biz faster

New Delhi: Drug major Sun Pharma Thursday said it is looking to raise the share of complex generics and specialty products to its overall business portfolio going forward. "While our specialty business will become an additional engine of growth for us, we will continue our relentless focus on the generics business and our attempt will be to find ways to grow the generics business faster than respective markets," Sun Pharmaceutical Industries Chairman Israel Makov said while addressing the company's AGM.

This should help the company to drive a stable and consistent growth in cash flows, which is a key objective of its corporate philosophy, he added while giving the overall outlook for the company.

"We are targeting to increase the share of complex generics and specialty products to our overall business in the coming years," Makov said.

This strategy will entail taking multiple initiatives, both organic and inorganic as well as assuming measured risks, he added.

"The specialty initiative will entail incurring up-front cost and investments for long-term benefits," Makov said.

The company's specialty portfolio targets dermatology, ophthalmic, oncology and CNS segments, he added.