Chennai: Sun Pharmaceutical Industries said its wholly owned subsidiary Sun Pharma Distributors Ltd (SPDL) will commence distributing its formulation products in India from this month in a phased manner on the same terms as was with Aditya Medisales.
This phased transition is expected to be fully completed by the first quarter of 2019-20, Sun Pharma said in a filing to the BSE.
“The above-mentioned transition and consequential one-time reduction in sales and profit will impact Sun Pharma’s financial results for the period ended 31 March,” it added.
The regulatory filing further said ‘Atlas has completed assignment of its business rights and obligations including those arising from the supply contract with Sun Pharma to a wholly owned subsidiary of Sun Pharma’.
This has no material impact on the profit or loss for the year ended 31 March, Sun Pharma said.