Sun Pharma’s Winning Formula: Precision Over Expansion

India’s largest drugmaker Sun Pharma has carved out its niche by focusing on unmet patient needs rather than chasing every new market segment, according to founder and executive chairman Dilip Shanghvi. Speaking at the IFQM Symposium, he stressed the company’s strategy of developing therapies with fewer side effects and improved delivery systems. With an annual R&D spend of $450 million, Sun Pharma’s portfolio spans dermatology, oncology, and ophthalmology. Its psoriasis drug Ilumya generated $681 million in FY25 sales, while new alopecia therapy Leqselvi is set to challenge Eli Lilly’s Olumiant with a higher-dosage regimen. Today, two-thirds of Sun Pharma’s revenue comes from international markets, underscoring its global shift since acquiring Ranbaxy for $4 billion in 2014 despite its troubled past. Shanghvi emphasized that setbacks never invalidate strategy: success lies in execution.