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Sun Firefights Governance Concerns

 
• By Anju Ghangurde

Sun has promised to implement certain changes to address corporate governance concerns that have riled investors, including “unwinding” a loan transaction and doing away with a controversial related party arrangement for domestic sales. But will that be enough for markets to "forget" allegations of lapses or "re-rate" the firm any time soon?

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SUN HAS MOVED TO CONTROL DAMAGE AMID ALLEGATIONS OF GOVERNANCE LAPSES • Source: Shutterstock

India’s top-ranked drug firm, Sun Pharmaceutical Industries Ltd., swung into damage control mode amid ongoing concerns about serious corporate governance lapses, promising to fine-tune certain business transactions that have been a sticking point with investors.

Sun, which at an investor call last month indicated its intent to modify certain opaque business transactions should that soothe...

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