Sun Pharma To Shut Some Plants In India, Overseas
India’s largest drug maker Sun Pharmaceutical Industries Ltd will shut down some of its manufacturing plants in India as well as overseas as the company will continue trimming its large manufacturing base as part of cost optimisation. The decision, which will help the company cutting the entire operating costs of these facilities, is also part of the business integration plan that is in progress at the company, especially after the merger of Ranbaxy Laboratories that it bought in 2014. Though the move will see several layoffs at the shop floor level at all these locations both in India and several other countries, the exact number of jobs that will be affected is not known. The plan to shut down manufacturing facilities is in addition to the company’s strategy to divest non-core units across its markets, said a person close to the development. Sun Pharma has already divested three of its manufacturing units in the US in the last few months. “ The company’s preferred opt...