How rich is the billionaire who brought 4,500 employees to Vietnam for tourism?

Billionaire Dilip Shanghvi is one of the richest businessmen in India, with assets worth tens of billions of USD. At the end of August, his company will send 4,500 employees to Vietnam for a tour. According to Vietravel Tourism Company, Indian billionaire Dilip Shanghvi, founder of Sun Pharmaceutical Industries Limited (Sun Pharma), will send 4,500 employees to Vietnam for a tour of three locations: Hanoi, Ninh Binh and Ha Long Bay (Quang Ninh). The tour group is divided into many small groups, arriving in Vietnam from August 27 to September 7. Mr. Dilip Shanghvi (68 years old) is the second richest person in India and ranked 61st in the world, with assets according to Forbes as of August 15 reaching 28.7 billion USD. In 2016, Mr. Shanghvi was the richest person in India. Starting his business in 1983, Dilip Shanghvi borrowed $200 from his father (a pharmaceutical distributor) and established Sun Pharmaceutical Industries Limited to produce psychiatric drugs.

Indian billionaire Dilip Shanghvi. Photo: Vyapaarjagat

Sun Pharma has now become one of the largest pharmaceutical companies in the country of one billion people and the fourth largest generic drug manufacturer in the world , present in more than 100 countries. Sun Pharma shares have increased by nearly 54% over the past year, bringing the group's capitalization to nearly 50 billion USD on August 15. Billionaire Dilip Shanghvi's group had revenue of 5.3 billion USD in 2023, of which 2/3 came from foreign markets. In the first half of 2024, Sun Pharma recorded revenue of about 2.9 billion USD. Success thanks to generic drugs and acquisition strategy Billionaire Dilip Shanghvi's success comes from capturing the development trends of the global pharmaceutical market as well as aiming for products with good quality but low prices, affordable for the majority of people. Accordingly, Sun Pharma focuses on producing drugs to treat diseases of modern life such as diabetes and blood pressure. Sun Pharma also focuses on producing generic drugs, instead of invented drugs (original drugs). If the original drug is a drug product containing a new pharmaceutical substance invented by researchers or manufacturers and has a patent, then the generic drug produced later is similar to the original drug, with the same ingredients, pharmaceutical substances, with the same content or concentration, the same dosage form... Normally, after the expiration of the invention protection period (usually 10-20 years from the date the pharmaceutical substance is discovered), other pharmaceutical companies are allowed to produce drugs similar to the original drug, called generic drugs. Generic drugs are also produced during the protection period if permitted by the monopoly company, and must pay royalties.

Indian billionaire Dilip Shanghvi has a huge fortune. Source: Forbes

Usually, generic drugs are introduced later, when the invented drugs have been used for decades, revealing most of their side effects, so controlling side effects is simpler. In addition, the price of generic drugs is often much lower than that of invented drugs and the quality and effectiveness are not inferior to invented drugs because they are also strictly registered and tested. With a different direction, Mr. Dilip Shanghvi built Sun Pharma with strong financial potential, thereby carrying out about 20 mergers and acquisitions of other pharmaceutical companies around the world in the past few decades. This is also the way to help Sun Pharma develop rapidly, becoming a pharmaceutical empire in the world. Many acquisitions have been very successful. In 1997, Mr. Dilip Shanghvi acquired Caraco Pharma (Detroit, USA) and turned this loss-making enterprise into a highly profitable company. In 2007, Shanghvi bought Taro Pharma. Notably, Sun Pharma acquired rival Ranbaxy Laboratories in 2014 for $4 billion when Ranbaxy was embroiled in a scandal. In 2023, Sun Pharma completed the acquisition of Massachusetts-based Concert Pharmaceuticals for $576 million. Despite his success, billionaire Dilip Shanghvi is secretive in the media. According to this Indian tycoon, his strategy is very simple, to succeed he does not look for giant leaps, but rather small steps. He enjoys the simple moments in life, such as enjoying traditional dishes at his favorite restaurants.

Vietnamnet.vn

Source: https://vietnamnet.vn/ty-phu-dua-4-500-nhan-vien-sang-viet-nam-du-lich-giau-co-nao-2312251.html