BUSINESS
BUSINESS As the chairman and managing director of Sun Pharma, Dilip Shanghvi started his venture in 1983 with a mere $200 borrowed from his father, initially concentrating on the production of psychiatric drugs. Varnika Srivastava Updated : Dec 20, 2024, 04:02 PM IST India stands out as a global powerhouse in the pharmaceutical sector, recognized for its extensive production and export of various medicines. A key player in this success story is Dilip Shanghvi, the founder and managing director of Sun Pharmaceutical Industries, which is the largest pharmaceutical company in the country. With a market capitalization of ₹4.18 lakh crore, Sun Pharma recently gained attention by acquiring over 5% of the U.S.-based Pharmazz Inc for $15 million (around ₹125 crore). This investment will be executed in two phases of $7.5 million each, dependent on certain conditions being met. As the chairman and managing director of Sun Pharma, Dilip Shanghvi started his venture in 1983 with a mere $200 borrowed from his father, initially concentrating on the production of psychiatric drugs. Today, the company is recognized as India's most valuable publicly traded pharmaceutical firm, with two-thirds of its $5.3 billion annual revenue coming from international markets. Shanghvi is acknowledged as one of India's richest individuals, boasting a real-time net worth of $28.7 billion (₹2.4 lakh crore), as reported by Forbes. His significant contributions to the Indian pharmaceutical landscape earned him the esteemed Padma Shri award in 2016. Coming from a Gujarati family, Shanghvi holds a Bachelor of Commerce degree from the University of Calcutta. He is married to Vibha Shanghvi, and their children, Aalok and Vidhi, are also actively engaged in the family business at Sun Pharmaceuticals. None
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