Lupin Founder And Chairman Desh Bandhu Gupta Dies At 79
Desh Bandhu Gupta, founder and chairman of drugmaker Lupin Ltd., died on Monday.
Gupta, 79, founded Lupin in 1968 and created a global pharmaceutical major with a presence in over 100 countries. He is survived by wife, four daughters and a son.
We are deeply saddened with the demise of our father early this morning.Lupin CEO Vinita Gupta And MD Nilesh Gupta In A Joint Statement.
A Lupin spokesperson said Gupta's death was sudden and untimely and he had been an active and integral part of Lupin until his last working day in the capacity of founder and chairman.
Gupta, an MSc in chemistry, helped Lupin become a pioneer in the Indian pharmaceutical landscape. Gupta started his career as an associate professor at the Birla Institute of Sciences and Technology.
In 1968, at the age of 30, Gupta started off with just Rs 5,000 as business capital that he borrowed from his wife and a loan from the Central Bank of India. The company grew from being a domestic pharmaceutical firm to a global drugmaker.
Born in Rajgarh, Rajasthan, Gupta believed in the concept of holistic development. He set up Lupin Human Welfare and Research Foundation in 1988 to eradicate poverty by encouraging sustainable development at the grassroots in rural India.
His efforts have led to a positive impact on the lives of 2.8 million families in 3,463 villages across the country, the company said. Gupta will be remembered for his vision to fight life-threatening diseases like tuberculosis by delivering good quality medicines at an affordable price.
Lupin is today among the top 10 pharma companies in the world, producing drugs in paediatrics, cardiovascular, anti-infectives, diabetology, asthma and anti-tuberculosis segment.
Lupin is the fourth largest generics company by market capitalisation and the sixth by sales globally. It is also the fifth largest player in the U.S. prescriptions markets and second largest pharmaceutical company by global revenues. In the year ended March, Lupin's consolidated sales stood at $2.55 billion and net profit at $381 million.
*With inputs from PTI
(Updated to include Lupin spokesperson's comment)
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