In a move that has rattled analysts and industry-watchers alike, Sun Pharma, India's largest drug-maker by market cap, has decided to spin off its domestic formulation business.
Sun Pharma has said that it is spinning off the business to a wholly-owned subsidiary Sun Resins And Polymers Pvt Ltd because of "concern regarding certain assets of the domestic business".
The move has sparked a fair bit of speculation about the future of the domestic business, where a range of theories like bringing a foreign partner to a possible sell-out is being talked about.
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