Desh Bandhu Gupta

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Desh Bandhu Gupta
Dr. Desh Bandhu Gupta.jpg
Born (1938-02-08)8 February 1938
Rajgarh, Alwar, Alwar State, British Raj
(now in Rajasthan, India)
Died 26 June 2017(2017-06-26) (aged 79)
Mumbai, India
Residence Mumbai, India
Citizenship Indian
Alma mater Bombay University
Occupation Businessman
Years active 1968–2017
Organization Lupin Limited
Known for Founder and chairman, Lupin Limited
Net worth $3.6 billion (June 2017)[1]
Children 5, including Vinita D. Gupta and Nilesh Gupta
Website www.lupinworld.com

Desh Bandhu Gupta (8 February 1938 – 26 June 2017) was an Indian billionaire businessman, the founder and chairman of Lupin Limited, a multinational pharmaceutical company.

Early life[edit]

Gupta was born on 8 February 1938 in Rajgarh, Alwar, Rajasthan,[2] and received a master's degree in chemistry from Bombay University.[3] He was eldest of the five siblings.[4]

Career[edit]

Gupta started his career as an associate professor at the Birla Institute of Technology and Science, Pilani, Rajasthan. He quit teaching and decided to be an entrepreneur as he was "not able to implement ideas into practice".[5] he came to Bombay (now Mumbai) and worked in a small British pharmaceutical manufacturing company.[2] He founded Lupin in 1968 with a start-up capital of 5000 borrowing the money from his wife. The first office of Lupin was rented premises in Central Mumbai used for dispatching medicines. Later, with a loan from Central Bank of India of 8 lakh, it started a factory whose major order was to provide iron and folic acid tablets to the Government of India programmes related to mother and child healthcare.[4] Under his leadership, Lupin became a global pharmaceutical company whose consolidated turnover was 110,866 million (equivalent to 120 billion or US$1.9 billion in 2016) and profit after tax was 18,364 million (equivalent to 21 billion or US$320 million in 2016) at the end of March 2014.[6]

Gupta set up the Lupin Human Welfare & Research Foundation (LHWRF) in October 1988.[3][7] LHWRF was set up with the objective of creating a reproducible and evolving model for sustainable rural development with a simple goal of uplifting families living below the poverty line in rural India.[3]

Gupta received a Lifetime Achievement Award during the Pharma Leadership Summit 2009.[8] He was also the recipient of the Ernst and Young Entrepreneur of the Year 2011 – Visionary Leader award.[9]

In 2015, Forbes estimated Gupta's net worth at $7.2 billion, making him the 254th richest person in the world.[1]

Personal life[edit]

Gupta was married to Manju and lived in Mumbai. They had five children; four daughters and one son.[1] Their daughter Vinita D. Gupta is based in United States and is Group President and CEO and son Nilesh Gupta is also Group President and Executive Director based in India.[4]

Gupta died on 26 June 2017 at Mumbai, aged 79.[10]

References[edit]

  1. ^ a b c "Desh Bandhu Gupta". Forbes. Retrieved 26 June 2017. 
  2. ^ a b "सिफारिश पर मिली थी फर्स्ट जॉब, ऐसे बनाई वर्ल्ड की चौथी बिगेस्ट फार्मा कंपनी". Dainik Bhaskar (in Hindi). 27 June 2017. Retrieved 27 June 2017. 
  3. ^ a b c "Lupin founder & Chairman Dr. Desh Bandhu Gupta passes away". The Hindu. 2017-06-20. Retrieved 2017-06-26. 
  4. ^ a b c "Guru of Generics- Business News". Businesstoday.intoday.in. 2010-06-13. Retrieved 2016-01-24. 
  5. ^ "Whatever the mind can dream, it will achieve: DB Gupta". Money Control. 14 May 2012. Retrieved 27 June 2017. 
  6. ^ "Lupin Limited" (PDF). Thehindubusinessline.com. Retrieved 2016-01-24. 
  7. ^ "Lupin Human Welfare & Research Foundation". Lupinfoundation.in. 2013-05-29. Retrieved 2016-01-24. 
  8. ^ "Pharma Leadership Summit brings together healthcare fraternity". Business-standard.com. Retrieved 2016-01-24. 
  9. ^ "Entrepreneur Of The Year Awards: Finalist - Desh Bandhu Gupta". EY.com. 1988-10-02. Retrieved 2016-01-24. 
  10. ^ "Lupin founder-chairman Desh Bandhu Gupta passes away at 79". Financial Express. 26 June 2017. Retrieved 27 June 2017.