In this edition of Passion to Win, meet Desh Bandhu Gupta, founder and chairman of Lupin, as he explains his motto for success and traces his journey from BITS-Pilani to founding of one of the world‘s leading pharma companies.
In this edition of Passion to Win on CNBC-TV18, meet Desh Bandhu Gupta, founder and chairman of Lupin, as he explains his motto for success and traces his journey from Birla Institute of Science and Technology in Pilani to founding of one of the world's leading pharma companies.
Below is an edited transcript of the show on CNBC-TV18. Also watch the accompanying video.
In the last forty years, Lupin has forced the world to stand up and take notice. Today a billion dollar company, Lupin had a modest start. The journey began in 1968 when Desh Bandhu Gupta, an associate professor at the Birla Institute of Science and Technology in Pilani had an urge to become an entrepreneur.
Desh Bandhu Gupta, founder and chairman, Lupin: Teaching did not give me satisfaction as I was not able to implement ideas into practice. So then I decided to become an entrepreneur but I did not have the money as whatever was available was required for helping the other members of the family.
But I believed in the power of the mind to achieve whatever it conceived. So, I decided to try my best to make it a success.
So Gupta borrowed Rs 5,000 from his wife and took on rent Lupin's first office, a 100 sqft space in Central Mumbai with one peon and one part-time packer. The mission was deliver drugs that were of national priority.
Gupta: Whatever I did not know, I would say, 'No, I don't know'. I would proceed in a manner where I learnt as much as I could. Initially, the Central Bank of India lent me Rs 8 lakh with which I started a factory in Bombay and with that we started supplied iron and folic acid tablets to the government of India for their mother and child healthcare programme. This was very well received.
Even today, Lupin has one of the highest R&D spends in the country comprising 6% of its turnover and with over 1,000 scientists dedicated to new drug discovery. Even as the promoters of other big pharmaceutical companies have sold out, Gupta says he is committed to making Lupin an innovation-led company.
Gupta: The biggest quality this country needs is entrepreneurship. If one has to define entrepreneurship, it is trying to understand opportunities and meet them with a principle of collective wisdom.
Today 75% of Lupin's business comes from foreign shores. Lupin is the fastest growing generic players in two of the largest pharmaceutical markets in the world, the US and Japan.
Gupta: Whatever a person's mind can conceive and believe, it achieves. When Lupin was started, our attempts were small but whatever we put ourselves to, we succeeded. This holds even after Lupin has become a high-growth organisation.
There have to be synergies and coherence in what you want to be and how you are going to do it. Once you know what you want to be and how you are going to do it, you are certainly going to achieve it. That is my motto.