Meet the man who once beat Mukesh Ambani to become the Richest person in India.

1. In 1982, Dilip Shanghvi had completed his graduation and used to help in his father’s wholesale medicine shop in Kolkata. The shop used to sell generic drugs, which did not give enough margin. Dilip was looking for a solution when he landed on one. 👇

2. The psychiatry drugs had very high margins and negligible supply from the big pharma companies. Dilip saw the business opportunity and borrowed Rs 10,000 from his father. In 1982, Sun Pharma was born. 🚀

3. The idea was simple ⏩ Manufacture and sell Lithosan, a bipolar disorder drug unavailable in Eastern parts of India. He borrowed his friend’s equipment and started a 3,000 sq ft shed factory in Vapi (Gujarat).

4. By the first year, Sun Pharma had made sales of 7.5 Lakhs with five drugs. As the demand picked, he launched products in the cardiology and gastroenterology space in 1987. 🙌

5. With new products,Dilip started focusing on the West Coast too and started exporting as well. He had opened offices in Toronto and Moscow. And, finally the big moment came. 👇

6. In December 1994, Sun Pharma went public and became a 500 CR company. It became the first Indian pharma company to get an IPO oversubscribed by 55 times. The competition took notice ➡️ UK-based GSK and homegrown Cipla took 15% market share with similar drugs as Sun Pharma. Dilip had to come up with a plan!

7. Dilip knew the competition would not go outside India. So, he acquired USA’s Caraco Pharma and a 44.3% stake in the UK’s MJ Pharma. Dilip was all set to enter the USA and UK market now.

8. The acquisitions worked as Sun Pharma added 50 CR in sales from the USA and UK. Dilip also started buying respiratory brands from NATCO Pharma and Opthalmology products from Milmet Labs. Sun Pharma broke into India’s Top 10 Pharma companies list in 1999. 📉

9. It continued scaling with factories in Jammu, Dadra and Silvasa and sold three billion tablets in 2002. With this, It broke into India’s Top 5 and became India’s largest Pharma company in the USA. Dilip had shown everybody a masterclass in acquisitions and product launches. But the fight wasn’t over. 💪

10. In 2014, the USFDA started granting licenses in bulk for generic drugs. Dilip knew the Top 4 would latch onto. So, he pulled out the best deal of his life. 👇

On March 25, 2015 – It bought Ranbaxy for 2000 CR in an all-stock deal, giving the combined entity 3000 CR in revenue and 47 facilities across five continents. With this, Sun Pharma became India’s largest Pharma company and the World’s 5th largest Generic drug maker. 🙌

➡️ Today – Sun Pharma clocks roughly 40,000 CR in annual revenue and is India’s No. 1. and World’s 4th largest generic pharma company.

At a net worth of 150,000 CR, Dilip Shangvi became a household name when he overtook Mukesh Ambani to become India’s richest man in 2015.

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