In a recent development, Indian pharmaceutical billionaire Dilip Shanghvi is planning to bring 4,500 of his employees to Vietnam for a vacation, with plans to visit Hanoi, Ninh Binh, and Ha Long Bay starting from the end of August.
Mr. Shanghvi is the founder of Sun Pharmaceuticals Industries Limited (Sun Pharma), and his net worth is currently valued at $29.1 billion, making him one of India’s richest people and ranking 61st on the list of the world’s wealthiest individuals.
Dilip Shanghvi, founder of Sun Pharmaceuticals Industries Limited (Sun Pharma)
According to Financial Express, Mr. Shanghvi started his business journey in 1982 by borrowing 10,000 Rupees (INR) from his father, a pharmaceutical distributor in Kolkata, to establish Sun Pharmaceutical Industries.
With his business acumen, he transformed Sun Pharma into the world’s fourth-largest generic (off-patent) specialty pharmaceutical company, operating in over 100 countries.
Shanghvi has been noted for his key role in several large-scale mergers and acquisitions, which have been instrumental in Sun Pharma’s global expansion. He acquired Caraco Pharma in the US in 1997, Israel’s Taro Pharma in 2007, and completed a $4 billion purchase of Ranbaxy Laboratories in 2014.
Between 2014 and 2018, Sun Pharma faced challenges due to declining revenues from price pressures and legal issues in the US market. However, under Shanghvi’s leadership, the company quickly recovered.
In March 2023, Sun Pharma further solidified its position by acquiring US-based Concert Pharmaceuticals for $576 million.
Indian tourists are increasingly visiting Vietnam
In the first quarter of the 2024-2025 financial year (ending June 30, 2025), Sun Pharma reported impressive financial results. As of June 30, 2024, the company’s total revenue stood at 125,245 million INR, a 6.3% increase year-over-year. Pharmaceutical revenue in India reached 41,445 million INR, a 16.4% jump, while pharmaceutical revenue in the US amounted to $466 million, a slight 1% decrease.
After expenses, the net profit for the first quarter of the financial year 2025 was 28,356 million INR, reflecting a significant 40.2% growth compared to the same period last year.
“Sun Pharma has recently achieved several milestones, including the approval of Leqselvi in the US, the filing for Nidlegy in Europe, and the completion of the minority stake acquisition in Taro,” said Dilip Shanghvi, Chairman and Managing Director of Sun Pharma. “These advancements not only enhance our innovative and generic offerings but also enable us to better serve patients worldwide,” he added.
According to the AIOCD AWACS MAT report for June 2024, Sun Pharma holds the top spot with an 8.6% market share in India’s pharmaceutical market, valued at 2,019 billion INR.
The SMSRC MAT report for February 2024 revealed that the company leads in prescription volume across 12 medical specialties. During the first quarter of the 2025 financial year, Sun Pharma launched six new products in the Indian market.
In terms of research and development (R&D) investments, Sun Pharma is currently focused on specialty and generic drugs to strengthen its product portfolio for various markets.
The most extensive bribery case ever in Thanh Hoa: Numerous suspects prosecuted for “Giving and Receiving Bribes”
The Provincial Security Investigation Agency (PSIA) of Thanh Hoa province announced on January 31st that it has made the decision to initiate a prosecution against 23 individuals in connection with the offenses of “Accepting bribes” and “Giving bribes” as stipulated in Article 354(3) and Article 364(2) of the Criminal Code.
Accelerating disbursement of the 120 trillion VND credit package for social housing
Deputy Prime Minister Trần Hồng Hà has recently issued directives regarding the implementation of the 120,000 billion VND credit package for investors and buyers of social housing, workers’ housing, and projects for the renovation and construction of apartment buildings.
“Prosecution of government officials, land registration officers, and tax department employees in the largest bribery case ever”
The Thanh Hoa Police Investigative Agency has initiated legal proceedings against 23 individuals involved in the crimes of “Bribery” and “Receiving bribes”. This is the largest bribery case in terms of the number of suspects ever discovered and apprehended by the Thanh Hoa Police.
Mobile World achieves revenue of VND118,000 trillion: TVs, tablets, and phones all decrease by 10% – 50%, while one product grows in both quantity and revenue.
Mobile World Investment Corporation (MWG) has recently announced its 2023 business results. According to the report, the company’s consolidated revenue reached over 118 trillion Vietnamese dong, equivalent to 89% of the revenue in 2022.
Vietnam’s Irresistible ‘Specialty’ That China Desperately Wants to Revive: Highly Popular from the US to Asia, Bringing in Millions of Dollars
Vietnam is one of the largest exporting countries in the world, along with China and the Philippines.
