Mr.

Dilip Shanghvi
Founder and CEO of Sun Pharmaceutical
Industries Ltd.

"I like to win without fighting. But if I can't, then I'm prepared to fight."
These inspiring words are said by Mr. Dilip Shanghvi, The founder and owner of "Sun
Pharmaceutical Industries Ltd. ", India's one of the biggest Pharmaceutical company.

Dilip Shanghvi, in full Dilip Shantilal Shanghvi was born on October 1, 1955 at Amreli
in Gujarat state, India. He is an Indian business executive who founded Sun Pharmaceutical
Industries Ltd.in 1983.The Government of India awarded him the civilian honor of the Padma Shri
in 2016. India Today magazine ranked him 8th in India's most powerful people of 2017 list.
Mr. Dilip Shanghvi, The son of a wholesale drug distributor, was raised in Kolkata, where his
father ran a pharmaceutical trading company selling branded and generic drugs. He earned a
bachelor's degree in commerce from the University of Calcutta in 1982. Upon graduating, he
borrowed Rs. 10,000 from his father and started Mumbai-based Sun Pharmaceutical Industries
as a two-man operation selling a single drug, Lithosun, which is used to treat bipolar disease.
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. His then-
partner, Pradeep Ghosh, still works for Sun Pharma.
Shanghvi established the Pharma Advanced Research Center to speed the development
of generic drugs in 1993. The next year, Sun Pharma sold shares on the Bombay and National
Stock Exchange. The offering was oversubscribed 55 times.

Shanghvi then expanded into the U.S. generic drug industry, acquiring Detroit-based
Caraco Pharmaceuticals in 1997. Caraco gave him access to the world's largest market for
generic drugs, its distributors, and expertise in dealing with the Food and Drug Administration. In
all, Shanghvi has bought 13 drug makers since 1997, following a strategy of acquiring under-
performing or unprofitable companies and merging their operations into Sun Pharma.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.

An unsuccessful six-year takeover battle for Taro Pharmaceutical started in 2007 when
Shangvhi made a $454 million bid to acquire the Yakum, Israel-based drug maker. Over the years,
Sun Pharma eventually acquired a 61 percent stake in Taro after grappling with the company's
founders for control, and offered to buy the rest for $367 million in October 2011.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.
Sun Pharma withdrew the offer in February 2013 after shareholders held out for a higher price. In
May 2012, Shanghvi relinquished his position as chairman of Sun Pharma to his handpicked
successor, Israel Makov, the former chief executive officer of Teva Pharmaceuticals, the world's
largest generic drug maker. The billionaire took up the role of managing director of the company
instead.

Sun Pharma then acquired domestic competitor Ranbaxy Laboratories in what was its
biggest ever purchase and the largest in the pharmaceutical industry in Asia in 2014.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
Shanghvi the world's richest pharmaceutical tycoon. And 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, Mr. 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.

"Our story is all about incremental growth. We're not looking for big leaps; we prefer small jumps".
This thought of Mr. Shanghvi encouraged me to choose him as my business leader. He is a man
of his words. He believed in himself, dreamt and worked hard to make his dreams come true. His
following visions and beliefs inspired me:
1."learn to Commit... in order to succeed"
Mr. Shanghvi started his business in 1982, with a capital of Rs. 10,000. Today Sun Pharma is a
$5bn company. There have been many steps and turns in the tale during this journey. One of the
things that has been a permanent fixture, is committing to a goal and going all out to achieve it.
2."Learn to Let Go... in order to keep growing"
After three decades at the helm of the company that he had founded and nurtured, he decided
that it was time to step aside so that the company could leap forward into the next stage of growth.
He relinquished his position as Chairman and CEO in 2012, in favor of Mr. Israel Makov (former
CEO of Teva Pharmaceuticals). Mr. Vivek Sehgal, formerly with Motherson Sumi was also
brought in as an independent director, to instill a strong focus on quality within Sun Pharma
Mr. Shanghvi assumed the role of the Managing Director. In his words, "...as a company grows,
the cost of making mistakes increases. Indecisiveness creeps in...Bringing outsiders into a family
business was much needed"
3."Letting go and bringing in outsiders"
It is a hard decision for any leader. More so for founders. A razor sharp focus on the future and
acting in the interests of the firm is the hallmark of a true leader.
4."Learn to NOT let Success Get into Your Head... in order to keep learning"
Mr. Shanghvi has been ranked as the 8th in India Today's "India's 50 Most Powerful People 2017"
list. He has a net worth of billions of dollars and is one of the richest people in India. He's however,
quite media-shy and stays away from the spotlight. He interacts with entrepreneurs, start-ups,
researchers, students and even during this interaction, he came across as a hardworking, humble
person who has not let success get into his head. He was of course asked about this during the
Q&A session. He replied "if you let it get into your head, the ability to learn will disappear".
In conclusion, Mr. Shanghvi is a living example of simple living, high thinking and inspiring others
to dream and to work hard in order to make their dreams come true.