Israel Makov, the long served chairman on the board of the country’s largest pharmaceutical company Sun Pharmaceutical Industries Ltd, will retire from the post on August 29, this year. Makov, who is retiring upon the completion of his current term, was appointed a Board member and the Chairman of Sun Pharma in 2012.
Under his leadership, Sun Pharma transformed from a US$ 1.7 billion organisation focusing on India and the US into the world's fourth largest specialty generic pharmaceutical company operating across 100+ markets with a turnover of over US$ 5 billion. Leading the company’s global expansion, he guided the acquisition of Ranbaxy in 2014, making Sun Pharma the leader in the Indian pharmaceutical market and a strong player globally. Mr Makov helped steer the company to pursue its strategy of building a global pipeline of specialty products.
“I was fortunate to be part of the thrilling journey of Sun Pharma becoming a major global player in the pharmaceutical industry and enjoyed working with the talented executives of Sun Pharma who participated in the company’s transformation and successfully led the process of change,” said Makov in a Wednesday statement.
Sharing his thoughts on the contributions of Mr Israel Makov, Sun Pharma managing director, Dilip Shanghvi said that the company is thankful to Makov for his visionary leadership and his contribution towards making Sun Pharma a global pharmaceutical company.
"Mr Makov has played a significant role in Sun Pharma’s global expansion in the last decade. He guided the company into its next phase of growth with focus on innovation and adoption of newer technologies.” Shanghai said.