From Wholesaler to the King of Pharmaceuticals Industries: The story of self-made billionaire, Dilip Shanghvi

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Pic: commons.wikimedia.org

Pharmaceuticals industries have been a major mark through in India. There exists many pharmaceuticals industries in India but none like Sun Pharmaceuticals Industries Limited or it can be said like this that until now there has been no such Pharmaceuticals Industries in India which have been able to match or replicate the steady rise and growth of Sun Pharmaceuticals Industries Limited and the reason behind all this unmatched success is Dilip Shanghvi, the former chairman of the company. Sun Pharmaceuticals is now the leading drug maker in India.

Presenting the story of the man who is neither from any medical field nor having any scientific qualification but still rules the Pharmaceutical Industries.

Early life and education

Dilip Shanghvi was born in a small town of Amreli, Gujarat. Dilip Shanghvi’s father was drug business man in Kolkata. Shanghvi pursued his education in J.J. Ajmera High School and completed his graduation in Bachelor’s degree in commerce.

Initial career stage

Now a successful and a leading businessman had once upon a time started his career with just five products and five people and this was all he called his very first pharma company and later started as a pharmaceutical products wholesaler in Kolkata.

Sun Pharmaceuticals

Sun Pharmaceuticals was established on Shanghvi’s self guided steps and moreover the company was financially helped by Shanghvi’s father with USD 1000 and his first venture was set up in Gujarat to manufacture psychiatry medications and along with this Shanghvi decided to stress on niche markets like lifestyle and psychiatry drugs and this resulted in Sun Pharmaceuticals to rose high.

Talent for running companies

Dilip Shanghvi had a talent for turning around in companies in distress. He has been consistent and balanced in his expansion plans and implementation. His takeover of Caraco Pharma which according to many industry experts was not a worthy move but still the talent of Shanghvi had made a loss making company into money making.

Zenith for Success

To reach the zenith of success in his illustrious career, Dilip Shanghvi unlike other businessman who would like to play on safe side to ensure their success, hasn’t played safe at all. Shanghvi has taken some unconventional steps to take Sun Pharmaceuticals Industries to the numero uno spot. The latest is when Sun Pharmaceuticals took over Ranbaxy which enhanced company’s revenue significantly.

Well-planned strategy

Dilip Shanghvi is a man who plans his every step and his strategic decisions too. This enabled him to diversify new business sectors. Under the leadership of Dilip Shanghvi, Sun Pharmaceuticals continued its expansion and joint ventures with several European and US drug majors.

Avoids competition and knows limitations

Shanghvi known the limitations of his company  and due to technical and financial limitations Shanghvi is not trying to compete with the innovator drug companies instead he is focusing on incremental innovation by making improvements to original drugs to enhance their effectiveness.

Top-quality management

Shanghvi hires top-quality management from outside to help him in taking his company to the next higher level where he can head the rest of the world business while managing the Sun Pharmaceutical brand.

Bottom line

Dilip Shanghvi is one of the rare entrepreneurs in India who has started his business from scratch and build it up to where it is today. Starting from a humble background he has managed to build a global business and now owns the largest pharmaceutical company in India.

Thoughts

As per Shanghvi, he is not comfortable with the tag of being dubbed the richest Indian and all the attention that follows for the reason and rather than to think about it and giving it so much importance, Shanghvi believes to focus on his work and do it the right way.


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