Early Life
Basudeo Singh was born in Bihar, India. He initially pursued a career in academia, becoming a professor after completing his education at Patna University, where he earned a Master of Arts degree.
Rise to Success
Singh's entrepreneurial journey began when he joined forces with his cousin, Samprada Singh. Together, they saw an opportunity in the pharmaceutical sector and started a pharma distribution business in 1962. This early success led them to establish Alkem Laboratories in Mumbai in 1973, with a modest initial investment.
Key Business Strategies
Alkem Laboratories focused on producing high-quality, effective medicines. Singh's approach included direct engagement with distributors, ensuring the availability and promotion of their products. A significant turning point for Alkem was the launch of Taxim, an anti-infective drug. The company expanded its operations, eventually establishing 19 factories across India and the U.S.
Philanthropy
While specific details about his personal philanthropy are not readily available, the pharmaceutical industry, including companies like Alkem, often engages in various philanthropic initiatives to support healthcare, research, and community development. The ISPE Foundation, for example, supports education, training, and research in the pharmaceutical industry. Royalty Pharma focuses its philanthropy on non-profit institutions that enable innovation in life sciences and reduce the risk of disease.