You are reading a success story of Dilip Shanghvi, Indian Billionaire Businessman and founder of Sun Pharmaceutical.
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Dilip Shanghvi was born on 1 October 1955 in Jain Bania family at the small town of Amreli in Gujarat. Dilip’s father’s name is Shantilal Shanghvi and his mother’s name is Kumud Shanghvi.
His father, Shantilal N. Shanghvi was a wholesale drug distributor. Shanghvi spent his childhood and college life in the Burrabazar locality of Calcutta with his parents. He did his schooling and graduation at J. J. Ajmera High School and Bhawanipur Education Society College.
Dilip Shanghvi received his Bcom – Bachelor of Commerce degree from the University of Calcutta. He is also an alumnus of J. J. Ajmera High School and Bhawanipur Education Society College. Dilip is married to Vibha. They have a daughter, Vidhi and a son, Aalok, both of whom work for Sun Pharmaceuticals.
Dilip worked wholesale generic drugs business along with with his father when the idea of starting and operating his own drug manufacturing business. Despite his lack of formal science education, Dilip established a drug manufacturing business named Sun Pharmaceuticals in 1982 with five products and a two-man marketing team with the capital of INR 10,000 Vapi, Gujarat.
Dilip borrowed Rs. 10,000 from his father. The company had also begun exporting in the year 1990 to neighboring countries and the company went public in 1994.
With the aim of expanding Sun’s reach in the United States, Sun Pharmaceutical Industries Limited acquired Caraco Pharma, a loss-making American company in 1997. In 2007, Sun Pharmaceuticals also acquired Israel’s Taro Pharma.
Sun had opened its own research and manufacturing facilities in1990. In 2012, Dilip becomes CEO and managing director of Teva Pharmaceuticals.
In April 2014 Ranbaxy, Sun Pharmaceuticals, and Daiichi Sankyo agreed that Sun Pharmaceuticals would acquire shares of Ranbaxy, the deal closed in March 2015 and made Sun Pharmaceuticals fifth largest in the world and the largest drug company in India.
The government of India appointed Dilip Shanghvi as India’s 21-member central board committee of the Reserve Bank In January 2018. Dilip is chairman of the board of governors at the Indian Institute of Technology Bombay – IIT Bombay.
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Sun Pharmaceutical Industries Limited is the largest Indian pharma company in the US and the largest chronic prescription company in India. The company is the fifth-largest specialty generics company globally and the largest chronic prescription company in India.