Sun Pharma to boost R&D Investments in Specialty and Generic Industries
Sun Pharmaceutical Industries, a significant player in the global pharmaceutical industry, forecasted high single-digit topline growth in the fiscal year 2023–2024 (FY24) and said it will increase its spending on clinical trials and innovation for its generic and specialty businesses. The business stated that this expected increase in spending would mainly concentrate on creating new indications for its dermatology treatments Deuruxotinib and Ilumya, as well as carrying out more research on the diabetes medication GLP-1. Plans for Expansion “We are still investing in the creation of a research and development (R&D) pipeline for both the global generics and specialized business. Our current generics pipeline for the US market consists of 97 Abbreviated New Drug Applications (ANDAs), which are requests for the US FDA to authorize generic versions of already-approved or licensed drugs, and 13 NDAs (new drug applications). Five compounds in our specialized R&D pipeline are cu...