However, the company warned that these numbers were not sustainable. "The growth in sales and profit in the quarter was derived from price increase on select products in the US and may not be sustainable," said Sudhir Walia, whole time director of Sun Pharma, in a conference call with analysts.

Sun also said it is still in the process of acquiring minority shares of Taro Pharma and said it remains interested in acquiring 100 per cent of the company. The minority shareholders of Taro have demanded that Sun Pharma increase its offer price from the current $24 which the company is offering. Sun has given no indication of doing this.

"We are interested in acquiring 100 per cent of the company through buying out the minority shareholders. Now there is a very rigidly followed process in the US and in Israel to protect the interest of the minority and that is something that we will follow fully," said Shanghvi.

Among many other assignments, Makov is also the chairman of Given Imaging, the pioneer developer and world's leading provider of capsule endoscopy, and chairman of Biolight, a life sciences investment company.

Prior to joining Teva, Makov led a number of companies in various industries, and founded Israel's first biotech company, Interpharm, which went public in the US as the first Israeli company in research and development stage. He is a member of the board of directors of the Israel National Nanotechnology Initiative, an initiative he also helped found.