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Dilip Shanghvi

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Dilip Shanghvi
Born (1955-10-01) 1 October 1955 (age 62)
Amreli, Gujarat, India[1]
Residence Mumbai, India
Nationality Indian
Alma mater Bhawanipur Education Society College, University of Calcutta
Occupation Founder and MD of Sun Pharmaceuticals
Net worth US$11.9 billion (February 2018)[2]
Spouse(s) Vibha Sanghvi
Children 2

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.[3] The Government of India awarded him the civilian honour of the Padma Shri in 2016.[4] India Today magazine ranked him #8th in India's most powerful people of 2017 list.[5]

Early life[edit]

Dilip Shanghvi is a Gujarati[6] who was born in small town of Amreli in Gujarat to Shantilal Sanghvi and Kumud Sanghvi.[1][7] Shanghvi earned a Bachelor of Commerce degree from the University of Calcutta.[8]He spent his childhood and college life in Calcutta, with his parents, who lived in Burrabazar locality of town. He is an alumnus of J. J. Ajmera High School and Bhawanipur Education Society College, from where he did his schooling and graduation, respectively.[9][10][11]

Career[edit]

He started by helping his father in his wholesale generic drugs business in Kolkata.[1] It was during this work that he thought of manufacturing his own drugs instead of selling others' products.[1]

Shanghvi started Sun Pharmaceutical Industries with capital of INR 10,000 in 1982 at Vapi, with one psychiatry drug and a partner, Pradeep Ghosh.[1][3] In 1997, Sun acquired Caraco Pharma, a loss-making American company, with the aim of expanding Sun's reach in the United States.[citation needed] Sun also acquired Israel's Taro Pharma in 2007.[12] Shanghvi stepped down as chairman and CEO in 2012 and chose Israel Makov, formerly CEO of Teva Pharmaceuticals, as his successor;[3] Shangvi became managing director.[13] 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.[14][15][16]

As of August 2014, he had a net worth of $17.2 billion.[17]

In January 2018, Govt appointed Dilip Shanghvi as one of the members of RBI’s powerful 21 members central board committee.[11]

Personal life[edit]

He is married to Vibha Sanghvi.[7][18] They have a son, Aalok and a daughter, Vidhi, both of whom work for Sun Pharmaceuticals.[19] He is a trustee of the Rhodes scholarship programme at Oxford University.[20]

See also[edit]

References[edit]

  1. ^ a b c d e "From a drug distributor to global pharma tycoon". DNA India. 8 April 2014. Retrieved 9 April 2015. 
  2. ^ "Dilip Shanghvi". Forbes. Retrieved 22 February 2018. 
  3. ^ a b c "Bloomberg Billionaires: today's ranking of the world's richest people: Dilip Shanghvi". Bloomberg. Retrieved 2 October 2014. 
  4. ^ "Padma Awards 2016". Press Information Bureau, Government of India. 2016. Retrieved February 2, 2016. 
  5. ^ "50 power people". India Today. April 14, 2017. 
  6. ^ "Top 10 Gujarati billionaires". India TV News. 2015-08-01. 
  7. ^ a b "Dilip Shanghvi's mother gifts Sun Pharma shares to his wife". Financial Express. 4 February 2015. Retrieved 5 July 2016. 
  8. ^ "Forbes – Dilip Sanghvi". Forbes. Retrieved 31 August 2014. 
  9. ^ "The Rise of a Common Man: Dilip Shanghavi - KnowStartup". KnowStartup. 4 August 2015. Retrieved 19 April 2018. 
  10. ^ http://www.bigpharmasuccessstories.com/2016/12/07/dilip-shanghvi-from-start-up-to-indias-largest-drug-maker/. Retrieved 19 April 2018.  Missing or empty |title= (help)
  11. ^ a b "Govt appoints Dilip Shanghvi, PK Monhanty at RBI's central board". Zee Business. 25 January 2018. Retrieved 30 April 2018. 
  12. ^ Balakrishnan, Reghu (10 April 2014). "Newsmaker: Dilip Shanghvi". Business Standard. Retrieved 31 August 2014. 
  13. ^ Economic Times Bureau May 30, 2012 Sun Pharma's Dilip Shanghvi steps down in favour of Israel Markov
  14. ^ Economic Times. 11 Apr, 2014 Ranbaxy-Sun Pharma merger deal may close by 2014 end: Daiichi Sankyo
  15. ^ BBC 7 April 2014 Sun Pharmaceutical to acquire Ranbaxy in $4bn deal
  16. ^ Eric Palmer for FiercePharma Mar 26, 2015 Deal done, Sun Pharma must now fix Ranbaxy's deep problems
  17. ^ R Shyam, Ashutosh (4 August 2014). "Sun Pharmaceutical's Dilip Shanghvi tops global rich list of drugmakers with net worth of $17.2 billion". Economic Times. Retrieved 31 August 2014. 
  18. ^ "Dilip Shanghvi, Sun Pharma promoter, a pharma maven with midas touch". Economic Times. 8 April 2014. 
  19. ^ "Sun rises on Ranbaxy". India Today. 18 April 2014. Retrieved 5 July 2016. 
  20. ^ "Rhodes House - Home of The Rhodes Scholarships". Rhodes House - Home of The Rhodes Scholarships. Retrieved 2018-04-01.