Dilip Shanghvi (born 1 October 1955) is an Indian businessman and one of the richest persons in India. He founded Sun Pharmaceuticals with a partner, Pradeep Ghosh. The Government of India awarded him the civilian honour of the Padma Shri in 2016.
Early life, family and education
Dilip was born in small town of Amreli in Gujarat to Shantilal Sanghvi and Kumud Sanghvi. Shanghvi earned a Bachelor of Commerce degree from the University of Calcutta. He is an alumnus of J. J. Ajmera High School and Bhawanipur Education Society College, from where he did his schooling and graduation, respectively.
He is married to Vidhi. The couple have a son, Aalok and daughter Vidhi from their marriage. Both of whom are currently working in Sun Pharmaceuticals.
He started by helping his father in his wholesale generic drugs business in Kolkata. It was during his work as a drugs distributor at Kolkata, he thought of manufacturing his own drugs instead of selling others’ products.
Dilip Shanghvi started Sun Pharmaceutical Industries with capital of ₹10,000 in 1982 at Vapi, with one psychiatry drug and a partner, Pradeep Ghosh. In 1997, Sun acquired Caraco Pharma, a loss-making American company, with the aim of expanding Sun’s reach in the United States. Sun also acquired Israel’s Taro Pharma in 2007. Shanghvi stepped down as Chairman and CEO in 2012 and chose Israel Makov, formerly CEO of Teva Pharmaceuticals, as his successor; Shangvi became Managing Director. 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.