Lupin founder Gupta passes away in Mumbai

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SME Times News Bureau | 27 Jun, 2017
Drug maker Lupin's founder and Chairman Desh Bandhu Gupta passed away here on Monday. He was 79.

"We are deeply saddened with the demise of our father (Gupta) on early Monday. What he had put in motion 50 years ago in helping to create, innovate and lead in the pharmaceutical space is an unparalleled legacy," said Lupin Chief Executive Nilesh Gupta in a statement in Mumbai.

Born in 1938 at Rajgarh in Rajasthan, Gupta had a Master of Science (M.Sc) degree in Chemistry and a vision to fight life-threatening diseases of national priority by delivering quality medicines at affordable price.

"Those who knew and worked with Gupta, remember him for his generosity and for fostering a dynamic environment where people could learn and grow. We will continue to build on his legacy and live by the values he instilled," asserted his son Nilesh.

After moving to Mumbai in the mid-60s, Gupta founded Lupin in 1968 and has been a pioneer in the country's pharmaceutical landscape.

Gupta will be remembered as a visionary, path-breaker and a nationalist who created a strong legacy of a global pharmaceutical major with presence in over 100 countries.

"It was under Gupta's leadership that the company grew to a global pharmaceutical major from being a domestic drug firm," said the statement, adding that the company was the world's fourth largest generics pharma player by market capitalisation.

A firm believer in the concept of holistic development, Gupta had also set-up Lupin Human Welfare and Research Foundation in 1988 to eradicate poverty by encouraging sustainable development at the grass root level in rural India.

"Gupta's efforts led to a positive impact on the lives of 2.8 million families in 3,463 villages across the country," added the statement.

The company posted consolidated sales of Rs 17,120 crore ($2.55 billion) and net profit of Rs 2,558 crore ($381 million) for the last fiscal (2016-17).

The drug major is a significant player in the cardiovascular, diabetology, asthma, paediatric and other areas and holds leadership position in the anti-TB segment.