Meet the ‘pharma man’ of India - Dilip Shanghvi
Here is the story of the founder and MD of India’s largest pharma company.
A company that started with just five people and five products went on to become India’s largest pharmaceutical company - Sun Pharmaceuticals Industries Ltd, under the leadership of Dilip Shanghvi who is a self-made billionaire. According to Forbes, Dilip Shanghvi’s net worth stood at Rs 1.072 trillion as of October 2021. He is currently the 14th richest person in India.
Let us learn more about this pharma man of India.
Dilip Shanghvi was born in Amreli, Gujarat but completed his early education and earned a Bachelor of Commerce degree in Kolkata. His father was a wholesale dealer of medicines which primarily included generic drugs. Since he would lend a helping hand in his father’s business, he came up with the thought of manufacturing his drugs. And thus, in 1982, a new venture was started which was called Sun Pharmaceuticals Industries. Today, Sun Pharma has become the largest pharma company in India by market capitalization. It has a presence across the globe serving over 150 countries. The company holds a relatively high market share of 8.2% in the Indian pharmaceutical industry.
Dilip Shanghvi is highly revered for his vast experience in the pharma industry. He has made a reputation for turning distressed companies into profitable ventures. In the year, he made a bold move by acquiring Ranbaxy, which was a distressed drug maker but eventually enhanced the company’s revenues significantly. Through strategic acquisitions and unconventional expansion plans, he has made his way to being a successful entrepreneur. He also enlisted the first-ever pure R&D company Sun Pharmaceutical Advanced Research Company (SPARC). However, he recently stepped down as MD of SPARC but will continue to be its chairman and non-executive director. The Government of India has awarded this visionary entrepreneur the civilian honour of the Padma Shri in 2016.
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