From Borrowing Rs 10,000 from his father to becoming India’s second richest man
Dilip Shanghvi was born in Mumbai. His family later moved to Kolkata. He started off by helping his father’s wholesale pharma business in Kolkata. After Graduation, he started his own business in Kolkata with one employee, where he marketed and sold psychiatry medicine. He then came to Mumbai, and set up his first factory in Vapi, Gujarat. The realisation to start his own drugs company had dawned on Dilip when was helping his father. He soon decided to set up his own business and market his own brands instead of continuing in trading business. He got his initial investment of Rs 10,000 from his father and started Sun Pharmaceutical in 1982. His base was Vapi in Gujarat, where he got some goods and equipment from a friend. Seeking help from a few more people, he started off with five products for psychiatry. The company did IPO in 1994, and expanded its sales network across 24 countries in 1996. In 2011, Ranbaxy crossed global revenues of $2 Billion, becoming the first pharma company of Indian origin to do so. Sun Pharma ventured into Ophthalmology in 1987 by taking over Milmet Labs. Milmet Labs was at a global rank 108 in 1987. Currently, it is ranked 6th, signifying Dilip’s mettle. Dilip also ensured that he expanded Sun into the European and US markets. Acquisition of Ranbaxy gave the company the necessary depth required in emerging markets. In 2012, when Sun Pharma acquired URL Pharma Inc. and DUSA Pharmaceuticals Inc., it was a major step in his career. Dilip, with a net worth of over $21.7 billion, also owns 60.8% stake in Sun Pharma, making the company number one in India and fifth largest in the world. Dedication, hard work and the ability to make the right decisions at the appropriate moments made Dilip Shanghvi the second richest man in India.
Dilip Shanghvi was born in Mumbai. His family later moved to Kolkata. He started off by helping his father’s wholesale pharma business in Kolkata. After Graduation, he started his own business in Kolkata with one employee, where he marketed and sold psychiatry medicine. He then came to Mumbai, and set up his first factory in Vapi, Gujarat. The realisation to start his own drugs company had dawned on Dilip when was helping his father. He soon decided to set up his own business and market his own brands instead of continuing in trading business. He got his initial investment of Rs 10,000 from his father and started Sun Pharmaceutical in 1982. His base was Vapi in Gujarat, where he got some goods and equipment from a friend. Seeking help from a few more people, he started off with five products for psychiatry. The company did IPO in 1994, and expanded its sales network across 24 countries in 1996. In 2011, Ranbaxy crossed global revenues of $2 Billion, becoming the first pharma company of Indian origin to do so. Sun Pharma ventured into Ophthalmology in 1987 by taking over Milmet Labs. Milmet Labs was at a global rank 108 in 1987. Currently, it is ranked 6th, signifying Dilip’s mettle. Dilip also ensured that he expanded Sun into the European and US markets. Acquisition of Ranbaxy gave the company the necessary depth required in emerging markets. In 2012, when Sun Pharma acquired URL Pharma Inc. and DUSA Pharmaceuticals Inc., it was a major step in his career. Dilip, with a net worth of over $21.7 billion, also owns 60.8% stake in Sun Pharma, making the company number one in India and fifth largest in the world. Dedication, hard work and the ability to make the right decisions at the appropriate moments made Dilip Shanghvi the second richest man in India.
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