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LIC Boosts Sun Pharma Stake Past 5%
14 Jan
Summary
- LIC increased its Sun Pharma holding to over 5% on January 14.
- LIC acquired 2,02,500 additional shares on January 13.
- Sun Pharma invested ₹1685.5 crore in research and development.
Life Insurance Corporation of India (LIC) has increased its stake in Sun Pharma, crossing the 5% ownership mark. As of January 14, LIC's shareholding in the prominent pharmaceutical company now stands at 5.004%, up from 4.996%. This acquisition of 2,02,500 shares on January 13 underscores LIC's significant presence as a major institutional investor.
Sun Pharma's stock has demonstrated strong long-term performance, rallying significantly over the past five and ten years. The company's dedication to innovation is further evidenced by its substantial investment of ₹1685.5 crore in research and development, accounting for 6% of its total sales.
Management highlighted that growth was primarily led by India, emerging markets, and the rest of the world. Notably, US sales of innovative medicines have now surpassed generics for the company during the recent quarter. Sun Pharma remains focused on portfolio expansion and enhancing its execution capabilities.
