This move is part of a "structured and forward-looking succession planning process," the company stated, aimed at ensuring leadership continuity. The appointment is subject to shareholder approval at the upcoming Annual General Meeting.
Dilip Shanghvi, the current managing director, will step down from the role and transition to executive chairman of the board. In his new capacity, Shanghvi will dedicate his efforts to bolstering Sun Pharma's high-growth specialty portfolio and providing strategic oversight for the company's long-term vision.
Kirti Ganorkar, a Sun Pharma veteran who joined the company in 1996, has been instrumental in the company's growth. He has successfully spearheaded the India business since June 2019, significantly increasing market share. His extensive career at the pharmaceutical major includes key leadership positions across business development, marketing, and M&A. Notably, he played a pivotal role in driving the company's foray into the specialty drug market by securing rights for innovative products like Ilumya and overseeing its initial expansion into Japan and Europe.
Commenting on the appointment, Dilip Shanghvi said, "Kirti has consistently demonstrated effective leadership managing diverse roles at Sun. I have a firm belief in his ability to lead the company into its next phase of growth."
In another significant development, the company also announced changes within its North American operations. Abhay Gandhi, president & CEO for North America, is departing to pursue other interests. He will be succeeded by Richard "Rick" Ascroft, a seasoned biopharmaceutical executive boasting over three decades of experience. Ascroft previously served as senior vice president at Takeda Pharmaceuticals, heading the U.S. Plasma-Derived Therapies business unit. Aalok Shanghvi, whole-time director and chief operating officer, will now also oversee the North America business, with Ascroft reporting directly to him.
Meanwhile, the company confirmed that the USFDA conducted a Good Manufacturing Practices (GMP) inspection of its Halol facility in Gujarat, India, from 2 June to 13 June 2025. Upon the conclusion of the inspection, the USFDA issued a Form-483 with 8 observations.
The company’s consolidated net profit declined 19% to Rs 2,149.88 crore, despite an 8.5% increase in revenue from operations to Rs 12,815.58 crore in Q4 FY25 over Q4 FY24.
Sun Pharmaceutical Industries is the world’s leading specialty generics company with a presence in specialty, generics, and consumer healthcare products. It is the largest pharmaceutical company in India and is a leading generic company in the US as well as global emerging markets.
Shares of Sun Pharmaceutical Industries shed 0.60% to Rs 1,678.65 on the BSE.