www.sunpharma.

com
www.ranbaxy.com
Creating the
Worlds 5
th
Largest
Specialty Generic Pharma Company
Sun Pharma Ranbaxy Merger April 7, !"#

$isclaimer
%xcept &or the historical in&ormation containe' herein, statements in this presentation an' the subse(uent
'iscussions, which inclu'e wor's or phrases such as )will*, )aim*, )will li+ely result*, )woul'*, )belie,e*,
)may*, )expect*, )will continue*, )anticipate*, )estimate*, )inten'*, )plan*, )contemplate*, )see+ to*,
)&uture*, )ob-ecti,e*, )goal*, )li+ely*, )pro-ect*, )shoul'*, )potential*, )will pursue* an' similar expressions
or ,ariations o& such expressions may constitute .&orwar'/loo+ing statements.. 0hese &orwar'/loo+ing
statements in,ol,e a number o& ris+s, uncertainties an' other &actors that coul' cause actual results to
'i&&er materially &rom those suggeste' by the &orwar'/loo+ing statements. 0hese ris+s an' uncertainties
inclu'e, but are not limite' to our ability to success&ully implement our strategy, our growth an' expansion
plans, our ability to obtain regulatory appro,als, our pro,isioning policies, technological changes,
in,estment an' business income, cash &low pro-ections, our exposure to mar+et ris+s as well as other ris+s.
Sun Pharmaceutical 1n'ustries 2imite' 'oes not un'erta+e any obligation to up'ate &orwar'/loo+ing
statements to re&lect e,ents or circumstances a&ter the 'ate thereo&.
Creating the 3orl'4s 5
th
2argest Specialty Generic Co / Sun Pharma / Ranbaxy Merger
6
Creating the Worlds 5
th
Largest Specialty
Generic Pharma Company
5
th
largest global specialty generic pharma company
7o. " pharma company in 1n'ia, one o& the &astest growing mar+ets
7o. " 1n'ian pharma company in 8S mar+et
9,er 8S: billion in sales
Pipeline o& ";# A7$As inclu'ing high/,alue <0<s
7o. " in generic 'ermatology, 7o. 6 in bran'e'
Approaching 8S: " billion sales in high/growth emerging mar+ets
%xpan'ing presence in 3estern %urope
CY 2013 pro
forma
e!en"es #
$S% &'2 (n
Creating the 3orl'4s 5
th
2argest Specialty Generic Co / Sun Pharma / Ranbaxy Merger
#
)ransaction *ighlights
S"n Pharma to ac+"ire an(a,y
Ranbaxy sharehol'ers to get !.; shares o& Sun Pharma stoc+ &or e,ery share o&
Ranbaxy
-eal si.e appro,imately $S% & (illion/ = .x 20M sales
8S: 5! million o& re,enue an' operating synergies by 6r' year post close
$aiichi San+yo to become the secon' largest sharehol'er in Sun Pharma. Strategic
business relationship to continue with Sun Pharma
>oting Agreements
$aiichi San+yo to ,ote in &a,or o& transaction ?=@6.5A ownershipB
Sun Pharma promoters to ,ote in &a,or o& transaction ?=@6.7A ownershipB
Creating the 3orl'4s 5
th
2argest Specialty Generic Co / Sun Pharma / Ranbaxy Merger
5
Proposed )ransaction )erms
1n'emnityC
1n connection with the transaction, $aiichi San+yo has agree' to in'emni&y
Sun Pharma an' Ranbaxy &or, among other things, certain costs an'
expenses that may arise &rom the recent subpoena which Ranbaxy has
recei,e' &rom the 8nite' States Attorney &or the 0oansa &acility.
Con'itions to closeC
Re(uisite appro,al o& Sun Pharma an' Ranbaxy sharehol'ers
Appro,al o& the 1n'ian Central Go,ernment an' ,arious other regulatory
bo'ies
Creating the 3orl'4s 5
th
2argest Specialty Generic Co / Sun Pharma / Ranbaxy Merger
@
S"n Pharma 0 an(a,y
Profile of a 1e2 Glo(al Leader
7
S"n Pharma 0 an(a,y3 Profile of a 1e2 Glo(al
Leader
5
th
largest global specialty generic pharma company
7o. " pharma company in 1n'ia
7o. " in "6 specialty segments
Strong 90C business with truste' bran's
7o. " 1n'ian pharma company in 8S mar+et
9,er 8S: billion in sales
Pipeline o& ";# A7$As inclu'ing high/,alue <0<s
7o. " in generic 'ermatology, 7o. 6 in bran'e'
Approaching 8S: " billion sales in high/growth emerging mar+ets
%xpan'ing presence in 3estern %urope
Creating the 3orl'4s 5
th
2argest Specialty Generic Co / Sun Pharma / Ranbaxy Merger
Strengthened Glo(al 4ootprint
Pro 4orma CY 2013 Sales 3 $S%&'2 (illion
7oteC R93 inclu'es all non/8S D 7on/1n'ia sales E AP1 an' others.
;
5ndia
236
$S
706
8W
196
5ndia
216
$S
2:6
8W
506
5ndia
226
$S
&96
8W
316
S"n
Pharma
an(a,y Com(ined
;ntity
Creating the 3orl'4s 5
th
2argest Specialty Generic Co / Sun Pharma / Ranbaxy Merger
SourceC %,aluate Pharma, Company &ilings.
F
Worlds 5
th
Largest Specialty Generic Pharma Co
2013 World2ide Generic Sales <% in (illions=
". 0e,a
. San'oG
6. Acta,is
#. Mylan
S"n 0 an(a,y
5' S"n
@. Hospira
7. Sano&i
;. Aspen
:' an(a,y
"!. 2upin
"". S0A$A
". $r. Re''y4s
"6. <resenius
"#. >aleant
"5. Apotex
%:'2
%>'2
%7'3
%5':
%&'3
%2'5
%2'&
%2'2
%2'1
%1'>
%1'>
%1'9
%1'9
%1'7
%1'5
%1'&
Creating the 3orl'4s 5
th
2argest Specialty Generic Co / Sun Pharma / Ranbaxy Merger
5ndias Largest Pharma Company
SourceC A3ACS through <ebruary !"#.
"!
?ar@et Share Last 12 ?onths of Aranded Generic Sales in 5ndia as of 4e(r"ary 201& <% in mn=
S"n 0 an(a,y F.A
". Abbott @.5A
. Sun 5.#A
6. Cipla 5.!A
#. Ca'ila #.#A
5. Ranbaxy 6.;A
@. GSI 6.7A
7. Man+in' 6.@A
;. Al+em E Cachet E 1n'chemie 6.5A
F. 2upin 6.6A
"!. P&iGer 6.!A
%1B117
%9>3
%751
%70&
%53>
%&75
%&&9
%&31
%&23
%&07
%35&
Creating the 3orl'4s 5
th
2argest Specialty Generic Co / Sun Pharma / Ranbaxy Merger
""
Leadership 5n Prescription Share
1"m(er 1 Position 2ith 13 Class of Specialist -octorsC
JRan+s base' on prescription share
SourceC SMSRC P,t. 2t'.
S"n Pharma C"rrent an@ing Com(ined ;ntity an@ing
Specialist D8ct 13E
Psychiatrists "
7eurologists "
Car'iologists "
9rthopae'ic "
9phthalmologists "
Gastroenterologists "
7ephrologists "
$iabetologists
Physicians 5
Gynaecologists 7
$ermatologists 7
9ncologists 7
8rologists "
Specialist D8ct 13E
Psychiatrists "
7eurologists "
Car'iologists "
9rthopae'ic "
9phthalmologists "
Gastroenterologists "
7ephrologists "
$iabetologists "
Physicians "
$ermatologists "
8rologists "
Chest Physicians "
General Surgeons "
Improved
Rankings
due to
merger
Creating the 3orl'4s 5
th
2argest Specialty Generic Co / Sun Pharma / Ranbaxy Merger
"
Sr' 1o' )herapy S"n an(a,y Com(ined ;ntity
" Psychiatry
7eurology
6 Car'iology
# 9rthopae'ic
5 9phthalmology
@ Gastroenterology
7 7ephrology
; $iabetology
F $ermatology
"! 8rology
"" Gynaecology
" Anti/in&ecti,es
"6 $ental
"# Respiratory
"5 >M7
"@ 9ncology
Complementary )herape"tic Aas@et
Com(ined
entity to
ha!e strong
positioning
in 5ndian
mar@et
Creating the 3orl'4s 5
th
2argest Specialty Generic Co / Sun Pharma / Ranbaxy Merger
"6
5ndia3 Aroad F Complementary Aranded
Presence
K Combine' entityC 6" bran's
in 0op 6!!
K Minimal o,erlap
K %nhances rural reach
Clear Leadership
K Chronic therapies
E
K Acute, hospitals D 90C
business
SourceC As per A3ACS <ebL"#
-ia(etology
>6
1e"ropsychiatry
176
Cardiology
176
GntiHinfecti!es
136
Gastroenterology
106
Pain F
Gnalgesics
>6
-ermatology
76
I?1
76
Gynecology
76
espiratory
&6
8thers
96
Creating the 3orl'4s 5
th
2argest Specialty Generic Co / Sun Pharma / Ranbaxy Merger
"#
$S3 Gro2ing Leadership Position
Strong pipeline o& ";# A7$As inclu'ing high/,alue <0<s
Clear $ermatology lea'ership
7o. " in generic 'ermatology, 7o. 6 in bran'e'
Co,erage across Actinic +eratosis, Anti/&ungals, Acne, etc
S"n Pharma
e!en"es #
$S% 1'9 (n
an(a,y
e!en"es #
$S% 0'5 (n
CY 2013
pro forma
e!en"es #
$S% 2'2 (n
Creating the 3orl'4s 5
th
2argest Specialty Generic Co / Sun Pharma / Ranbaxy Merger
"5
;merging ?ar@ets3 Aolsters Presence
Merge' entity to ha,e global &ootprint across 55 mar+ets
1ncreasing lea'ership in +ey %merging Mar+ets
Russia, Romania, South A&rica, MraGil D Malaysia
%xtensi,e Pro'uct Mas+et largely Mran'e' business with minimal o,erlap
Strong $octor Relationships
9pportunities to le,erage mar+et presence to cross/sell pro'ucts
Strong pro'uct pipeline &or high/growth emerging mar+ets
S"n Pharma
e!en"es #
$S% 0'3 (n
an(a,y
e!en"es #
$S% 0'7 (n
CY 2013
pro forma
e!en"es #
$S% 0': (n
Creating the 3orl'4s 5
th
2argest Specialty Generic Co / Sun Pharma / Ranbaxy Merger
4inancially Compelling Com(ination
7early 8S: #. billion in pro &orma
sales &or the twel,e months en'e'
$ecember 6", !"6
Approximately 8S: ". billion in pro
&orma %M10$A &or the twel,e
months en'e' $ecember 6", !"6
Anticipate' to be cash %PS accreti,e
within &irst " months o& close
=8S: 5! million o& re,enue D
operational synergies by 6
r'
year
Primarily 'eri,e' &rom top/line
growth, an' procurement D supply
chain e&&iciencies
"@
Profile F Ial"e Synergies
Creating the 3orl'4s 5
th
2argest Specialty Generic Co / Sun Pharma / Ranbaxy Merger
"7
)rac@ record of s"ccessf"l t"rnaro"nd of 17
ac+"isitions
7et Sales ?: MnB %M10$A ?: MnB
> ;arly Gc+"isitions
& ecent Gc+"isitions
)aroB -$SGB $L
& Gc+"isitions H Aryan
*"ngaryB G(leB Chattem
!
"!
!
6!
#!
5!
!
5!!
",!!!
",5!!
,!!!
,5!!
6,!!!
Creating the 3orl'4s 5
th
2argest Specialty Generic Co / Sun Pharma / Ranbaxy Merger
1e,t Steps
eg"latory
Gnno"ncement3 Gpril 9B 201& Post Closing
1n'ian Central Go,ernment,
State Go,ernments
High Courts o& Gu-arat,
Pun-ab an' Haryana
Competition Commission o&
1n'ia
Hart/Scott/Ro'ino appro,al
Shareholder
Iotes
Closing3 Gnticipated (y end of 201&
5ntegration
)ransaction
Synergies
emediation
Planning
Appro,al o& 75A o& the
shares ,ote' by both Sun
Pharma an' Ranbaxy
sharehol'ers
Moth $aiichi San+yo an' Sun
Pharma promoters ha,e
agree' to ,ote in &a,or o&
transaction
1ntegration planning
an' lea'ership teams
appointe'
=8S: 5! million in
synergies by 6
r'
year
Reme'iation o&
manu&acturing &acilities
utiliGing combine'
expertise
0hir'/party consultants
to 'e,elop plans
";
Creating the 3orl'4s 5
th
2argest Specialty Generic Co / Sun Pharma / Ranbaxy Merger
"F
A 2an'mar+ 0ransaction
Creating the 3orl'4s 5
th
2argest Specialty Generic Co / Sun Pharma / Ranbaxy Merger
!
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Creating the 3orl'4s 5
th
2argest Specialty Generic Co / Sun Pharma / Ranbaxy Merger