Early Life
Dilip Shanghvi was born on October 1, 1955, in Amreli, Gujarat, India, into a Jain family. He grew up in Kolkata, where his father ran a wholesale business trading generic medicines. He earned a Bachelor of Commerce degree from the University of Calcutta.
Rise to Success
Shanghvi's entrepreneurial journey began in 1983 when he founded Sun Pharmaceutical Industries with a small loan from his father. The company initially focused on psychiatric drugs. Sun Pharma grew significantly over the years, making strategic acquisitions, including Caraco Pharma and Taro Pharma. In 2014, Sun Pharma acquired Ranbaxy Laboratories for $4 billion, making it the largest drug company in India and the fifth largest globally.
Key Business Strategies
Shanghvi's key business strategies include a focus on quality, affordability, and patient needs. Sun Pharma allocates 6-8% of its revenue to research and development. The acquisition of Ranbaxy Laboratories was a pivotal move, enabling Sun Pharma to expand its global reach. Strategic alliances and a focus on building a strong team have also contributed to Sun Pharma's success.
Philanthropy
Dilip Shanghvi is involved in various philanthropic initiatives. His family supports the Shantilal Shanghvi Foundation, which focuses on education and healthcare. He also serves as a trustee for the Rhodes Scholarship program at Oxford University.