Billionaire Shanghvi's Sun Pharma Surprises With Loss
- Antitrust accord over sleep drug helps push drugmaker into red
- Pricing pressure in U.S. hurting generic drug firms globally
Dilip Shanghvi
Photographer: Kuni Takahashi/BloombergThis article is for subscribers only.
The billionaire founder of Sun Pharmaceutical Industries Ltd. pledged that the drugmaker would do better after reporting its first loss in at least 12 years amid regulatory headaches and a weakening market for generic drugs.
“The reason why we are suffering is our inability to execute,” Dilip Shanghvi said on a conference call with analysts after the results were released. “The only solution is our focus on improving execution.“