The Man Behind Rising ‘Sun’: Tale Of A Crorepati Druggist Dilip Shanghvi
Early Life:
Birth:
Dilip Shanghvi was born on October 1, 1955, in Amreli, Gujarat, India, to Shantilal Shanghvi and Kumud Shanghvi.
Family Background:
He belongs to a Gujarati Hindu Vaishnav Kapol Vania family but is sometimes confused as Jain.
Education:
Shanghvi earned a Bachelor of Commerce degree from the University of Calcutta. He attended J. J. Ajmera High School and Bhawanipur Education Society College in Kolkata.
Career:
Family Business:
Dilip initially assisted his father in the wholesale dealership of medicines, specializing in generic drugs, in Kolkata.
Sun Pharmaceutical Industries:
In 1982, at the age of 27, he founded Sun Pharmaceutical Industries with an initial capital of INR 10,000. The company started in Vapi, Gujarat, and initially produced a single psychiatry drug.
Business Growth:
Sun Pharma expanded rapidly under Shanghvi’s leadership. By 1997, it acquired Caraco Pharma in the United States and, in 2007, Israel’s Taro Pharma.
Leadership Transition:
Shanghvi stepped down as chairman and CEO in 2012. Israel Makov succeeded him as CEO, and Shanghvi took on the role of managing director.
Acquisition of Ranbaxy:
In 2015, Sun Pharma acquired Ranbaxy for $3.2 billion, making Sun the largest pharmaceutical company in India and the fifth largest globally.
Recent Role:
In May 2021, Shanghvi stepped down from the position of Managing Director of SPARC (Sun Pharma Advanced Research Company) but continued as a non-executive director and chairman.
Community and Governance Involvement:
Reserve Bank of India (RBI):
In January 2018, Shanghvi was appointed to the Reserve Bank of India’s 21-member central board committee.
IIT Bombay:
He serves as the chairman of the board of governors at IIT Bombay.
Rhodes Scholarship Programme:
Shanghvi became a trustee of the Rhodes scholarship programme at Oxford University in 2017.
Personal Life:
Family:
Dilip Shanghvi is married to Vibha Shanghvi. They have a son, Aalok, and a daughter, Vidhi, both of whom work for Sun Pharmaceuticals.
Religious Affiliation:
Shanghvi is a devotee of Shrinathji and regularly undertakes pilgrimages to the deity’s abode in Nathdwara, Rajasthan. The deity’s images and idols are present in Sun Pharma’s facilities.
Book:
Biography:
In 2019, journalist Soma Das authored “The Reluctant Billionaire,” the first and only biography of Dilip Shanghvi. The book was nominated for the Tata Literature Award in the Best Business Book category in November 2019.