Q: What inspired you to start Sun Pharmaceuticals?
Dilip Shanghvi: I come from a business family, but I was always interested in the pharmaceutical industry. I saw an opportunity to manufacture niche specialty medicines that were not widely available in India. In 1983, with a small capital of ₹10,000, I started Sun Pharma with just five psychiatry products. The goal was simple—make high-quality, affordable medicines available to patients who need them. Over the years, this vision has helped Sun Pharma grow into a global pharmaceutical leader.
Q: What were the biggest challenges you faced while building Sun Pharma, and how did you overcome them?
Dilip Shanghvi: In the initial years, we faced challenges in establishing credibility, scaling manufacturing, and competing with larger players. One key challenge was breaking into the international market while maintaining high quality and compliance with global regulations. Our strategy was to focus on niche therapeutic areas, invest in research and development, and grow through strategic acquisitions. We also built a strong distribution network, which helped us expand rapidly.
Q: Sun Pharma has grown tremendously over the years. What would you say were the key factors behind its success?
Dilip Shanghvi: Several factors contributed to Sun Pharma’s success:
- Specialization in niche segments – We focused on underserved therapeutic areas like psychiatry, cardiology, and dermatology.
- Strong R&D investments – Innovation has been at the core of our business.
- Acquisitions and global expansion – Acquiring companies like Ranbaxy helped us expand internationally.
- Operational efficiency – We have always emphasized cost control and quality manufacturing.
- Long-term vision – We never focused on short-term profits but on creating a sustainable, global pharmaceutical company.
Q: What role has research and development (R&D) played in Sun Pharma’s growth?
Dilip Shanghvi: R&D is one of the most critical aspects of our business. The pharmaceutical industry is highly competitive, and innovation is key to staying ahead. We invest significantly in R&D to develop new formulations, complex generics, and specialty medicines. Our research centers worldwide work on improving drug delivery systems, biosimilars, and novel therapies. This focus has allowed us to launch differentiated products and maintain leadership in many markets.
Q: How did the acquisition of Ranbaxy impact Sun Pharma?
Dilip Shanghvi: The Ranbaxy acquisition in 2014 was a significant milestone for Sun Pharma. It strengthened our global presence and expanded our portfolio, particularly in the generics market. However, it also came with challenges, such as regulatory compliance issues and restructuring needs. We worked extensively on improving Ranbaxy’s manufacturing practices and integrating operations to ensure long-term success. Today, the acquisition has helped us solidify our position as one of the largest pharmaceutical companies in the world.
Q: How do you see the future of the pharmaceutical industry in India?
Dilip Shanghvi: India is well-positioned to become a global pharmaceutical powerhouse. With a strong manufacturing base, cost-effective production, and a skilled workforce, we are already one of the leading suppliers of generic medicines worldwide. In the future, I see growth in biologics, biosimilars, and specialty drugs. Digital healthcare and AI-driven drug discovery will also play a crucial role. The focus should be on innovation, quality, and global compliance to maintain our leadership in the industry.
Q: What advice would you give to aspiring entrepreneurs in the pharmaceutical industry?
Dilip Shanghvi:
- Be patient and persistent – The pharma industry requires long-term vision and perseverance.
- Invest in R&D – Innovation is key to staying competitive.
- Ensure quality and compliance – Regulatory approvals are crucial for global expansion.
- Think globally but act locally – Understand the needs of different markets while leveraging India’s cost advantage.
- Keep learning – The industry is evolving rapidly, and staying updated with the latest advancements is essential.
Q: Sun Pharma has expanded globally. What is your strategy for international markets?
Dilip Shanghvi:
Our international expansion is driven by:
- Acquisitions – Acquiring strategic assets that align with our growth plans (e.g., Taro Pharmaceuticals in the U.S.).
- Specialty products – Focusing on complex generics, biosimilars, and specialty medicines.
- Regulatory compliance – Ensuring all our manufacturing facilities meet global regulatory standards.
- Diversification – Entering new therapeutic areas and expanding our product portfolio.
We currently operate in over 100 countries, and our goal is to strengthen our presence in both developed and emerging markets.
Q: How do you balance leadership and decision-making in a large organization like Sun Pharma?
Dilip Shanghvi: Leadership in a large organization requires trusting the right people and building a strong management team. While I am actively involved in strategic decisions, I delegate operational responsibilities to capable professionals. Decision-making is always based on data, long-term vision, and patient needs. I also believe in maintaining an entrepreneurial mindset—being adaptable and open to change is crucial in this industry.
Q: What is the most satisfying aspect of your journey as an entrepreneur?
Dilip Shanghvi: The most satisfying part is knowing that our medicines help millions of people worldwide. When we started Sun Pharma, we wanted to make affordable, high-quality medicines accessible to all. Seeing our company grow from a small startup to a global leader while maintaining that core mission is incredibly fulfilling. Additionally, creating job opportunities and contributing to India’s healthcare sector is something I take great pride in.
