Success Story-6

Dilip Shanghvi1.jpg
Mr.Dilip Shanghavi

The Legendary Chairman & Managing director Sun Pharma

Born in a Jain Family in a small town of Gujrat named Amreli to Shantilal Shanghvi and Kumud Shanghvi,Mr.Dilip Shanghvi spent his childhood and college life with his parents in the Barabazar locality of Calcutta .

He went to J.J.Ajmera High School and Bhawanipur Education Society College, where he did his schooling and graduation.

He earned a bachelor’s degree in commerce from the university of Calcutta.

Mr.Dilip Shanghvi is married to Vibha Shanghvi and is a father of a son named Alok and daughter,Vidhi, both of them work for the Sun Pharmaceuticals.

Mr.Dilip Shanghvi started his professional career by helping his father in his wholesale generic drugs business in kolkata.While working with his father he got a strong desire to have his own drugs manufactured instead selling others products.

With an aim to make a mark in the manufacturing of Pharmaceutical drugs, Mr.Dilip Shanghvi started Sun Pharmaceuticals with a initial capital of Rs.10000 in the year 1982 at Vapi, With just one psychiatry drug. The company started in full swing in the year 1983 with just five people and few products, today,it’s no mean achievement that Sun pharma commands the largest market capitalisation in the pharmaceutical universe.

There is a story behind Mr.Shanghvi’s choosing Psychiatry medicines, he believed to go with a micro segment for which there were very few doctors and the market was also not too big, but looking into the future market and the ease of reaching out to these doctors as a market leader from the beginning,he decided to set up his first manufacturing unit at Vapi in Gujrat.

According to Mr.Dilip, at that time the number of psychiatry doctors was very few and so it would be easier to reach out to them rather than to sell to a whole lot of general physicians,which would require a large field force. He wanted to hit a market with no competition to be successful and gain confidence from the beginning of the manufacturing game.

And it had been seen from the very beginning of the Sun Pharma, that, the company have focussed on the high margin chronic care therapy products that have made the company very profitable.

Now, Mr.Dilip started life as a wholesaler of pharmaceutical products in kolkata and with a head for numbers and a inner stinct for turning around companies, decided not to look back and go ahead with his passion to make a difference in the pharma world. He made many acquisitions.

Most of the acquisitions have turned out to be a distressed assets. Mr.Dilip was known to be extremely conservative in approach with feet on the ground.Many a times he has desisted from overpaying for assets or getting carried away by bids from peers,instead he preferred to bide his time.

This is the reason why Sun pharma has not made any big acquistion since it first bought into the Detroit-based Caraco Pharma in 1987 and took over, over a perion of time for 50 million dollars.

Initially Caraco pharma acquistion proved to be not a profitable deal due to a lots of goverment compliances, but ,later it started picking up and moved to profit zone.

In january 2018 , the Indian government appointed Shanghvi to the Reserve bank of India’s 21-member central board committee.He also worked as the chairman of the board of governors at IIT Bombay.He was also made a trustee of the Rhodes scholarship program at Oxford University.

Thus not only in business but Mr.Dilip also holds respectable and responsible positions in the society and the Country.

A Book named “The Reluctant Billionaire” is a biography of Mr.Dilip Shanghvi ,written by journalist Soma Das and published by Penguin Random House .This book depicts the entire life journey of Mr.Dilip Shanghvi and is a master piece that was nominated for “Tata Literature Award”

This inspirational hero of india is a must mention today and we should always be keen to hear his life journey that teaches patient,dignity,commitment and focus.

Stay tuned for more success stories ……..

Reach out to me at dipupop@yahoo.co.in

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