More cuts as Sun Pharma pulls Ranbaxy into the fold

Sun Pharmaceutical continues to cut staff, as it continues to integrate Ranbaxy Laboratories, which it bought in a $4 billion deal this year. After the recent departure of about 150 top execs, the Economic Times says the drugmaker is now targeting R&D operations, with 15 departures at hand. Sun Pharma founder and Managing Director Dilip Shanghvi has said that once the company gets manufacturing plants banned by the FDA able to sell back into the U.S. market, that the deal for Ranbaxy will start paying off handsomely. But the drugmaker recently said that in the short term, the expense of that will be a drag on profits. Story | More