Dilip Shanghvi

Dilip Shanghvi
Born (1955-10-01) 1 October 1955
Amreli, Gujarat, India[1]
Residence Mumbai, Maharashtra
Nationality Indian
Ethnicity Gujarati[1]
Alma mater University of Calcutta (B.Com)
Occupation Founder and MD of Sun Pharmaceuticals
Net worth US$ 17.5 billion (January 2016)[2][3]

Dilip Shanghvi (born 1 October 1955) is an Indian businessman and one of the richest persons in India. He is the founder and managing director of Sun Pharmaceuticals.[4] As of the 2015 Forbes real time ranking, he overtook the Mukesh Ambani as the richest person in India.[5][6] The Government of India awarded him the civilian honour of the Padma Shri in 2016.[7]

Early life and education

Dilip was born in small town of Amreli[1] in Gujarat on 1 October 1955.[4] Shanghvi earned a Bachelor of Commerce degree from the University of Calcutta.[8] He is an alumnus of J. J. Ajmera High School and Bhawanipur Education Society College, from where he did his schooling and graduation, respectively.[9]

Career

He started by helping his father in his wholesale generic drugs business in Kolkata.[1] It was during his work as a drugs distributor at Kolkata, he thought of manufacturing his own drugs instead of selling others' products.[1]

Dilip Shanghvi started Sun Pharmaceutical Industries with capital of Rs 10,000 in 1982 at Vapi.[1] Shanghvi founded Sun Pharmaceuticals in 1983 with five psychiatry products. Today, it is India's largest drugmaker and most valuable drug company. Appreciation of Sun's stock led to a 50% surge in his personal wealth, amounting to USD 4.7 billion.[2][10] As of August 2014, he has a net worth of $17.2 billion, according to the Bloomberg Billionaire's Index.[11] He has also been named in the list of Asia’s top ten wealthiest self-made billionaires, according to Wealth-X.[10] Shanghvi is also the Chairman and Managing Director of Sun Pharma Advanced Research Company and Shantilal Shanghvi Foundation.[10]

In 1997, he acquired Caraco Pharma, a loss-making American company, with the aim of expanding Sun's reach in the United States and turned them around in no time. Both the deals have paid off; the US now accounts for 60% of Sun's revenue. He also acquired Israel's Taro Pharma in 2007. He is also credited with steering Sun Pharma to fifth place in the global generic drugs market.[12]

On 19 February 2015, he surpassed Mukesh Ambani as the richest person of India, as his parent company stock surged.[6]

See also

References

  1. 1 2 3 4 5 6 "From a drug distributor to global pharma tycoon". DNA India. 8 April 2014. Retrieved 9 April 2015.
  2. 1 2 "India's Wealthiest Feel Pain, Gain Only 3%". Forbes (18 November 2013). Retrieved 31 August 2014.
  3. "Bloomberg Billionaires". www.bloomberg.com. Retrieved 15 December 2014.
  4. 1 2 "Bloomberg Billionaires: today's ranking of the world's richest people". Bloomberg. Retrieved 2 October 2014.
  5. "Forbes’ definitive list of wealth in India, profiling and ranking the country’s richest citizens by their estimated net worths.". Forbes. Retrieved 2016-04-10.
  6. 1 2 "Dilip Shanghvi overtakes Mukesh Ambani as richest Indian". India Today (Living Media India Limited). 4 March 2015. Retrieved 6 March 2015.
  7. "Padma Awards 2016". Press Information Bureau, Government of India. 2016. Retrieved February 2, 2016.
  8. "Going by market value, Sun Pharma's Dilip Shanghvi is richest Indian". Times of India. 20 February 2015. Retrieved 9 April 2015.
  9. "Forbes – Dilip Sanghvi". Forbes. Retrieved 31 August 2014.
  10. 1 2 3 "Sun Pharma’s Dilip Shanghvi among Asia’s top 10 richest self-made billionaires". Indian Express. 30 April 2014. Retrieved 31 August 2014.
  11. R Shyam, Ashutosh (4 August 2014). "Sun Pharmaceutical's Dilip Shanghvi tops global rich list of drugmakers with net worth of $17.2 billion". Economic Times. Retrieved 31 August 2014.
  12. Balakrishnan, Reghu (10 April 2014). "Newsmaker: Dilip Shanghvi". Business Standard. Retrieved 31 August 2014.


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