Exactly with this aim MBA Rendezvous is presenting you series of motivational stories of successful Professionals who have carved a niche in their own way and have become icons of Management Fraternity.
Following above, read motivational story of Dilip Shanghvi
DilipShanghvi is a quite well-known figure in the Indian pharmaceutical industry today. He has reached the pinnacle of success as regards drug manufacturing. The founder of Sun Pharmaceutical Industries, he heads a drug empire which has an estimated value of around 31 billion dollars.
His hard work and business strategy have today made him the richest man in India, surpassing his rival MukeshAmbani. Sun Pharma has recently acquired Ranbaxy Laboratories, which has added to the sheen in its already glittering armour.
DilipShanghvi started Sun Pharmaceutical Industries with capital of Rs. 10,000 in 1982 at Vapi. His example motivates us because he stands testimony to the fact that any dream reaches its actualisation with a small step forward.
Born in a small family in Gujarat in 1955, Shanghvi graduated from Calcutta University in commerce. He joined his father’s wholesale generic drugs trade in Kolkata. He worked as a drug distributor, but then felt that it would be much more satisfying and rewarding if he could manufacture his own drugs and sell them, instead of merely selling drugs that others made. And this was the germ for Sun Pharma - which was founded with two marketing executives and five psychiatry drugs in 1982. Back then, very few multinational drug firms would make these drugs, as their products were selling well.
The manufacture of such drugs by them was only to show their presence in the market, with not many doctors even prescribing these medicines. Sun Pharma is now India’s largest pharma company, with 25 manufacturing facilities across four continents. It is also the fifth largest complex generics maker in the world. Sun Pharma has grown to be the country’s largest pharma company in the US market, expanding through acquisitions almost every year.
Under the leadership of DilipShanghvi, Sun Pharmaceuticals continued its expansion and joint ventures with several European and US drug majors. 2012 was a significant year when the company acquired two US companies, URL PharmaInc and DUSA Pharmaceuticals Inc. However, the acquisition of Israel-based Taro made Sun a big player in overseas market and helped DilipShanghvi redefine success in the sector.
While the United States remains a large source of Sun’s revenue, it has enough expansion scopes there. Shanghvi is now focusing on specific product niches to carry forward the growth of Sun Pharmaceuticals. Apart from focusing on dermatology drugs, his company will also concentrate on enhancing business in Europe.
Shanghvi’s life-story and rise to phenomenal success inspires us in more ways than one – born in a small family, he did not put limits on his ambitions, he did not let his circumstances restrict him or inhibit him from dreaming big and chasing his dreams.
Additionally, he did not pursue foolhardy dreams, in the sense that he was too grounded and practical and worked his way up the success ladder with perseverance, devotion and commitment – all of which reaped a beneficial result in the end. Also, he did not, even for once, give in to the naysayers or the people who said that this cannot happen or this is impossible. He had faith in his abilities and he focussed on his strengths, he took failures and defeat in his stride and tasted true success.
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