Dilip Shanghvi (born 1 October 1955) is an Indian billionaire businessman and one of the country's richest people. He founded Sun Pharmaceuticals with a partner, Pradeep Ghosh. The Government of India awarded him the civilian honour of the Padma Shri in 2016. India Today magazine ranked him #8th in India's most powerful people of 2017 list.
Video Dilip Shanghvi
Early life
Dilip Shanghvi is a Gujarati who was born in small town of Amreli in Gujarat to Shantilal Sanghvi and Kumud Sanghvi. Shanghvi earned a Bachelor of Commerce degree from the University of Calcutta. He is an alumnus of J. J. Ajmera High School and Bhawanipur Education Society College, from where he did his schooling and graduation, respectively.
Maps Dilip Shanghvi
Career
He started by helping his father in his wholesale generic drugs business in Kolkata. It was during this work that he thought of manufacturing his own drugs instead of selling others' products.
Shanghvi started Sun Pharmaceutical Industries with capital of INR10,000 in 1982 at Vapi, with one psychiatry drug and a partner, Pradeep Ghosh. In 1997, Sun acquired Caraco Pharma, a loss-making American company, with the aim of expanding Sun's reach in the United States. Sun also acquired Israel's Taro Pharma in 2007. Shanghvi stepped down as chairman and CEO in 2012 and chose Israel Makov, formerly CEO of Teva Pharmaceuticals, as his successor; Shangvi became managing director. In April 2014 Sun, Ranbaxy, and Daiichi Sankyo (the majority shareholder in Ranbaxy) agreed that Sun would acquire all outstanding shares of Ranbaxy for $3.2B in Sun stock and that Sun would take on $800M in Ranbaxy debt; the deal closed in March 2015 and made Sun the largest drug company in India and the fifth largest in the world, and made Daiichi the second largest shareholder in Sun.
As of August 2014, he had a net worth of $17.2 billion.
Personal life
He is married to Vibha Sanghvi. They have a son, Aalok and a daughter, Vidhi, both of whom work for Sun Pharmaceuticals.
See also
- List of billionaires
References
Source of article : Wikipedia
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