2025-06-16-高盛-太阳制药工业（SUN）_太阳制药工业公司（SUN.BO）_宣布管理层变动_6页_248kb

Sun Pharmaceutical Industries Management Change Summary

Sun Pharma announced the appointment of Mr. Kirti Ganorkar as the new Managing Director, effective September 1, 2025, replacing Mr. Dilip Shanghvi, who continues as Executive Chairman focusing on specialty portfolio development. Mr. Ganorkar, with extensive experience in business development and specialty product entry, will oversee all business functions.

Simultaneously, Mr. Abhay Gandhi, President & CEO of North America, is stepping down. Mr. Richard Ascroft, a seasoned biopharma executive, will succeed him as CEO of North America, reporting to Mr. Aalok Shanghvi, who now additionally manages North America operations.

Goldman Sachs analysts maintain a Sell rating with a 12-month price target of Rs1,475, indicating a 12.7% downside from the current price of Rs1,688.70. Key risks include faster specialty product penetration and regulatory approvals. Financial forecasts show revenue and EPS growth, but the company faces challenges in specialty marketing spend and US business break-even.