Dilip Shanghvi

Dilip Shanghvi
Dilip Shanghvi (born 1 October 1955) is an Indian billionaire businessman

and one of the country's richest people. He founded Sun
Pharmaceuticals.The Government of India awarded him the civilian honour
of the Padma Shri in 2016. India Today magazine ranked him 8th in India's
most powerful people of 2017 list.
According to Forbes, as of October 2023, Shanghvi is the 6th richest person

in India with a net worth of US$18.7 billion.
Born: 1 October 1955 (age 68 years),Amreli
Net worth: 1,880 crores USD (2023) Forbes
Children: Vidhi Shanghvi, Aalok Shangvi
Education: University of Calcutta (1982), The Bhawanipur Education Society

College
Spouse: Vibha D Shanghvi
Parents: Shantilal N. Shanghvi, Kumud S. Shanghvi

Awards: Padma Shri, CNN-IBN Indian of the Year in Business
Early life
Shanghvi hails from a Gujarati Hindu Vaishnav Kapol Vania family settled in
Kolkata.He was born in the small town of Amreli in the Indian state of
Gujarat, the son of Shantilal Shanghvi and his wife Kumud Shanghvi.
Shanghvi earned a Bachelor of Commerce degree from the University of
Calcutta. He spent his childhood and college life with his parents in the
Burrabazar locality of Kolkata. He is an alumnus of J. J. Ajmera High School
and Bhawanipur Education Society College, where he did his schooling and
graduation, respectively.
Career
Shanghvi started by helping his father in his business, which was a

wholesale dealership of medicines, mainly generic drugs, in Kolkata. It was
during this work that he thought of manufacturing his own drugs instead of
selling products made by others.
In 1982, the 27-year-old Shanghvi finally opened his first manufacturing

unit with a capital of INR 10,000. He named his venture Sun Pharmaceutical
Industries. The unit, located in Vapi in his native state of Gujarat, a short
drive away from Mumbai, produced exactly one psychiatry drug However,
the business soon picked up, thanks to Shanghvi's acumen and energy, and
by 1997, Sun Pharma was even able to acquire Caraco Pharma, an American
company. Sun also acquired Israel's Taro Pharma in 2007.Shanghvi stepped
down as chairman and CEO in 2012 and chose Israel Makov, formerly CEO of
Teva Pharmaceuticals, as his successor; Shanghvi became managing
director. In April 2014 Sun, Ranbaxy, and Daiichi Sankyo (the majority
shareholder in Ranbaxy) agreed that Sun would acquire all outstanding
shares of Ranbaxy for $3.2 billion in Sun stock and that Sun would take on
$800M in Ranbaxy debt; the deal closed in March 2015 and made Sun the
largest drug company in India and fifth largest in the world, and made
Daiichi the second-largest shareholder in Sun.In May 2021 he stepped down
from the position of Managing director of SPARC and will continue to
function as a non-executive director and chairman.
History
Sun Pharmaceuticals was founded by Dilip Shanghvi in 1983 in Vapi,

Gujarat, with five products to treat psychiatry ailments. Cardiology products
were introduced in 1987 followed by gastroenterology products in 1989.
Today it is ranked number one by prescriptions with nine different
specialties of doctors in India and a market leader in cardiology,
gastroenterology, ortho, diabetology, dermatology, urology, vitamins,
minerals, and nutrients.
The 2014 acquisition of Ranbaxy made Sun Pharma the largest pharma
company in India, the largest Indian pharma company in the US, and the
4th[5] largest specialty generic company globally.
Over 72% of Sun Pharma sales are from markets outside India, primarily in
the United States. The US is the single largest market, accounting for about
30% of the company's turnover; in all, formulations or finished dosage
forms, account for 93% of the turnover. Manufacturing is across 44 global
locations in India, the US, Asia, Africa, Australia and Europe. In the United
States, the company markets a large basket of generics, with a strong
pipeline awaiting approval from the U.S. Food and Drug Administration
(FDA).
Sun Pharma was listed on the stock exchange in 1994 in an issue

oversubscribed 55 times. The founding family continues to hold a majority
stake in the company.
Community
In January 2018, the Indian government appointed Shanghvi to the Reserve

Bank of India's 21-member central board committee. He is chairman of the
board of governors at IIT Bombay.He was made a trustee of the Rhodes
scholarship programme at Oxford University in 2017.
Personal life
He is married to Vibha Shanghvi.They have a son, Aalok and a daughter,

Vidhi, both of whom work for Sun Pharmaceuticals.
Shanghvi is a devotee of Shrinathji and makes regular pilgrimage with his

family to the deity's abode in the city of Nathdwara in Rajasthan. Photos and
idols of the deity adore Sun Pharma's factory and offices
Summary
Dilip Shanghvi, (born October 1, 1955, Amreli, Gujarat state, India), Indian
business executive who was the founder (1983) of Sun Pharmaceutical
Industries Ltd.
The son of a wholesale drug distributor, Shanghvi launched Sun Pharma
soon after graduating (1982) from the University of Calcutta with a
bachelor’s degree in commerce. He assumed the post of managing director.
Initially, the company marketed only a small number of psychiatric drugs,
but by the early 1990s it had opened its own research and manufacturing
facilities and added product lines in the fields of cardiology and
gastroenterology. Shanghvi took the company public in 1994. Three years
later Sun Pharma made its first international acquisition when it bought
Detroit-based Caraco Pharmaceutical Laboratories; it also took equity
stakes in two prominent Indian drug manufacturers, Tamilnadu Dadha
Pharmaceuticals and MJ Pharmaceuticals.
Under Shanghvi’s leadership, Sun Pharma continued to expand at a rapid
rate, acquiring more than a dozen companies and brands between 1999 and
2012. The firm’s 2010 purchase of a controlling stake in Taro
Pharmaceutical Industries—following a three-year takeover battle—almost
immediately doubled its U.S. revenues to more than $1 billion. In 2015
Shanghvi oversaw the completion of the company’s $3.2 billion acquisition
of generic-drug rival Ranbaxy Laboratories from Japan-based
pharmaceutical giant Daiichi Sankyo Co. The deal made Sun Pharma the
fifth largest generic-drug producer in the world as well as the largest
pharmaceutical company in India.
Aside from his work at Sun Pharma, Shanghvi was active as a personal
investor, with interests that increasingly extended beyond pharmaceuticals,
notably in the field of renewable energy. In 2018 he became a member of the
Reserve Bank of India’s central board.
● The son of a pharmaceuticals distributor, Dilip Shanghvi borrowed

$200 from his father to start Sun Pharmaceutical Industries in 1983
to make psychiatric drugs.
● The company is India's most valuable listed pharma outfit and gets
65% of its $5.1 billion annual revenue from overseas markets.
● He grew Sun through a series of acquisitions, the biggest of which
was the 2014 purchase of scandal-tainted rival Ranbaxy
Laboratories for $4 billion.

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Dilip Shanghvi

Dilip Shanghvi (born 1 October 1955) is an Indian billionaire businessman

According to Forbes, as of October 2023, Shanghvi is the 6th richest person

Born: 1 October 1955 (age 68 years),Amreli

Net worth: 1,880 crores USD (2023) Forbes

Children: Vidhi Shanghvi, Aalok Shangvi

Education: University of Calcutta (1982), The Bhawanipur Education Society

Spouse: Vibha D Shanghvi

Parents: Shantilal N. Shanghvi, Kumud S. Shanghvi

Shanghvi started by helping his father in his business, which was a

In 1982, the 27-year-old Shanghvi finally opened his first manufacturing

Sun Pharmaceuticals was founded by Dilip Shanghvi in 1983 in Vapi,

Sun Pharma was listed on the stock exchange in 1994 in an issue

In January 2018, the Indian government appointed Shanghvi to the Reserve

He is married to Vibha Shanghvi.They have a son, Aalok and a daughter,

Shanghvi is a devotee of Shrinathji and makes regular pilgrimage with his

● The son of a pharmaceuticals distributor, Dilip Shanghvi borrowed

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