Dilip Shanghvi, in full Dilip Shantilal 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.

Dilip Shanghvi Family

Shanghvi Spouse – Vibha D. Shanghvi

Dilip Shanghvi is married to Vibha D. Shanghvi and she owns a total of 0.43% stake in the Sun Pharmaceuticals shares. She, along with her husband is a supporter of many charitable organizations and they constantly donate millions in funds to various organizations on an annual basis. The couple has a total of two children.

 Children – Aalok Shangvi & Vidhi Shanghvi

Aalok Shanghvi

Aalok is the son of DIlip Shanghvi and was born in the year 1988. He started his career back in 2007 when he joined the Sun Pharmaceuticals as a Product Manager. He is a graduate from the University of Michigan in Molecular Biology and was inducted into the board of Taro Pharmaceutical Industries Ltd., a company that Sun Pharmaceuticals recently acquired. Along with a friend, he started PV Powertech Pvt. Ltd, which is a solar panel making company. Aalok is married to Karishma Mehta, who is the granddaughter of C.K. Mehta.

Dilip Shanghvi- Success story

He initially used only five products to treat psychiatric ailments. Gradually, the company stepped into cardiology and gastroenterology products. Today, it is recognized as the largest chronic prescription company in India. It is also a market leader in psychiatry, neurology, cardiology, gastroenterology, and nephrology.

Dilip Shanghvi net worth

Forbes estimated his wealth at $16 billion in April 2022, ranking 117th on the list of the richest people in the world. In 2015, he briefly overtook Mukesh Ambani as the richest person from India. His company raises $4.5 billion a year, two-thirds of which comes from foreign operations. This makes it India’s most valuable pharmacist.

Dilip Shanghvi education

After completing his schooling from J. J. Ajmera High School, he studied at Bhawanipur Education Society College, which is an undergraduate college affiliated with the University of Calcutta in Kolkata, from where he attained his Bachelor of Commerce degree.

Career

Dilip Shantilal Shanghvi launched Sun Pharma soon after graduating (1982) from the University of Calcutta with a bachelor’s degree in commerce. 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. By 2015 Shanghvi had fulfilled his vision of making Sun Pharma a truly global company; the firm offered products in more than 150 countries, operated 45 manufacturing sites across five continents, and employed more than 30,000 people worldwide.

Dilip Shanghvi- Founder of Sun Pharmaceuticals

Sun Pharmaceuticals Industries Limited is headquartered in Mumbai, Maharashtra, India. The company manufactures and sells pharmaceuticals ingredients and formulations prominently in India and the U.S.

Dilip founded Sun Pharmaceuticals in 1983 and served as its Chief Executive Officer(CEO). The former CEO of Teva Pharmaceuticals, Israel Makov then succeeded him as the CEO of Sun Pharmaceuticals in 2012. Dilip stepped down of the CEO position and started serving as the Managing Director (MD) of the company.

Legal Challenges

Due to its fierce acquisition strategy and exceptionally rapid growth, the company also faced some challenges. In 2014, the Food & Drug Administration (FDA) banned the importation of drugs from Sun Pharmaceuticals’ factory in Karkhadi, Gujarat. The reason they gave was that the production practices were not good.

The company also felt compelled to recall nearly 70,000 units of its antidepressant drug because it failed its quality test.

The setbacks did not deter the immensely successful businessman. In 2014 it was time for the next major acquisition. Sun Pharmaceuticals acquired rival Ranbaxy Laboratories, part of Japan-based Daiichi Sankyo Co. The acquisition was worth $4 billion. This acquisition made Sun Pharmaceuticals the fifth largest pharmaceutical company in the world.

Dilip Shanghvi- Honors & Awards

• He received First Generation Entrepreneur
• of the Year award by CNBC TV 18
• In 2011, he received Ernst & Young World Entrepreneur of the Year
• In 2012, CNN IBN conferred him as the Indian of the year (Business) award
• His firm, Sun Pharmaceuticals was credited with the Company of the Year award by Business Standard
• Sun Pharmaceuticals was listed in the World’s 100 Most Innovative Companies by Forbes
• Sun Pharmaceuticals was awarded Cardiovascular Pharmaceutical Company of the Year at the Frost & Sullivan India Healthcare Excellence Awards
• All India Management Association (AIMA) conferred Dilip with the JRD TATA Corporate Leadership Award
• Dilip’s fortune elevated from $4.1 to 18 billion and shifted his rank as the second richest Indian, competing at the level of Azim Premji
• In 2014, he got the Business Leader of the year award by Economic Times