Dilip Shanghvi: Founder & MD of Sun Pharmaceuticals

Megha Rani Megha Rani
Jan 22, 2021 5 min read
Dilip Shanghvi: Founder & MD of Sun Pharmaceuticals

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Dilip Shanghvi founded Sun Pharmaceuticals and is one of the India's richest businessmen. In 2016, he received the fourth-highest civilian award Padma Shri from the Government of India. He was ranked 8th in India Today's 2017 list of India's most powerful people in the world. Forbes listed him as the 12th richest man in India with a net worth of $6.9 billion, as of October 2019. As of 2021, he has an estimated net worth of $16 billion.

Dilip Shanghvi- Biography

Name Dilip Shanghvi
Born 1 October, 1955
Birthplace Amreli, Gujarat, India
Age 65
Nationality Indian
Education Bhawanipur Education Society College; University of Calcutta
Profession Businessman
Position Founder & MD, Sun Pharmaceuticals
Net worth $16 billion (January, 2021)
Biography The Reluctant Billionaire by Soma Das
Father Shantilal Shanghvi
Mother Kumud Shanghvi
Spouse Vibha Shanghvi
Son Aalok Shanghvi
Daughter Vidhi

Dilip Shanghvi- Personal Life
Dilip Shanghvi- Education
Dilip Shanghvi- Professional Life
Dilip Shanghvi- Business idea
Dilip Shanghvi- Success story
Dilip Shanghvi- Founder of Sun Pharmaceuticals
Dilip Shanghvi- Acquisitions
Dilip Shanghvi- Honors & Awards

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Dilip Shanghvi- Personal Life

Dilip was born to Shantilal Shanghvi and Kumud Shanghvi in Amreli, Gujarat and he hails from a Jain family. He later lived in Burrabazar, Calcutta with his parents. He is married to Vibha Shanghvi and the couple has two children, Aalok and Vidhi. Both the children works in his company Sun Pharmaceuticals.

Dilip Shanghvi- Education

Dilip completed his elementary education from J.J. Ajmera High School. He further graduated from Bhawanipur Education Society College. He received his Bachelor of Commerce degree from the University of Calcutta.

Dilip Shanghvi- Professional Life

Dilip launched his pharmaceuticals company in 1983. His company Sun Pharmaceuticals manufactures generic drugs, vaccines, diagnostics, contact lenses and products for animal health.

He was appointed as the Reserve Bank of India's 21 member central board committee by the Indian Government in 2018. He sits as the Chairman of the board of governors at IIT Bombay. In 2017, he was made a trustee of the Rhodes scholarship program at Oxford University.

The Indian journalist, Soma Das has authored the biography of Dilip Shanghvi named, "The Reluctant Billionaire" in 2019. In November 2019, the book was nominated for Tata Literature Award in the best business category.

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Dilip Shanghvi- Business idea

Dilip used to assist his father in his wholesale generic drugs business in Kolkata. He eventually got the idea to establish a business, through which he can manufacture his own drugs rather selling others' products. He then established Sun Pharmaceuticals Industries in 1982 with a capital of Rs. 10,000 at Vapi with one psychiatry drug initially.

Dilip Shanghvi- Success story

He initially used only five products to treat psychiatric ailments. Gradually, the company stepped into cardiology and gastroenterology products. Today, it is recognized as the largest chronic prescription company in India. It is also a market leader in psychiatry, neurology, cardiology, gastroenterology, and nephrology.

Dilip Shanghvi- Founder of Sun Pharmaceuticals

Sun Pharmaceuticals Logo

Sun Pharmaceuticals Industries Limited is headquartered in Mumbai, Maharashtra, India. The company manufactures and sells pharmaceuticals ingredients and formulations prominently in India and the U.S.

Dilip founded Sun Pharmaceuticals in 1983 and served as its Chief Executive Officer(CEO). The former CEO of Teva Pharmaceuticals, Israel Makov then succeeded him as the CEO of Sun Pharmaceuticals in 2012. Dilip stepped down of the CEO position and started serving as the Managing Director (MD) of the company.

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Dilip Shanghvi- Acquisitions

Caraco Pharma, a loss-making American company was acquired by Sun Pharmaceuticals with an aim to expand its reach in the United States. In 2007, Sun acquired Israel's Taro Pharma.

There was a deal which said Sun would acquire all shares of Ranbaxy, an Indian pharmaceuticals company. Daiichi Sankyo, the majority shareholder in Ranbaxy, agreed for a $3.2 billion in Sun stock and would take $800 million in Ranbaxy debt. The 2014 acquisition of Ranbaxy made Sun Pharmaceuticals triumphant.

However, the deal was shut in March 2015 and Sun became the largest drug company in India and fifth largest in the world. Significantly, Daiichi became the second largest shareholder in Sun.

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Dilip Shanghvi- Honors & Awards

  • He received First Generation Entrepreneur of the Year award by CNBC TV 18
  • In 2011, he received Ernst & Young World Entrepreneur of the Year
  • In 2012, CNN IBN conferred him as the Indian of the year (Business) award
  • His firm, Sun Pharmaceuticals was credited with the Company of the Year award by Business Standard
  • Sun Pharmaceuticals was listed in the World's 100 Most Innovative Companies by Forbes
  • Sun Pharmaceuticals was awarded Cardiovascular Pharmaceutical Company of the Year at the Frost & Sullivan India Healthcare Excellence Awards
  • All India Management Association (AIMA) conferred Dilip with the JRD TATA Corporate Leadership Award
  • Dilip's fortune elevated from $4.1 to 18 billion and shifted his rank as the second richest Indian, competing at the level of Azim Premji
  • In 2014, he got the Business Leader of the year award by Economic Times

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