Lupin founder and Chairman Desh Bandhu Gupta passes away at 79

Founded in 1968, Lupin rose to become the second-largest Indian generics pharma firm by revenue

Lupin Limited founder and Chairman Desh Bandhu Gupta passed away early this morning in Mumbai. He was 79 years old.

Founded by Gupta in 1968, Lupin rose to become the second-largest Indian generics pharmaceutical company by revenue last year. In fact, it is the fourth largest generics pharmaceutical company by market capitalisation in the world.

Even while he was actively involved with the company's day-to-day affairs, Gupta successfully created the next generation of leadership in the company by positioning his daughter and son, Vinita Gupta, as CEO, and Nilesh Gupta, as managing director, respectively, in top roles besides bringing in a set of very senior and experienced professional managers to ensure smooth sailing.

Born in Rajgarh, Rajasthan, Gupta earned a Master of Science Degree (Chemistry) and had the vision to fight life-threatening diseases of highest national priority by delivering good quality medicines at an affordable price. It was with this objective that he moved to Mumbai and founded Lupin in 1968, the company stated in a message.

Lupin CEO Vinita Gupta and MD Nilesh Gupta said, "We are deeply saddened by the demise of our father early this morning. What DBG (Desh Bandhu Gupta) put in motion 50 years ago in helping to create, innovate, and lead in the pharmaceutical space is an unparallelled legacy. Those who knew and worked with DBG, remember him giving generously and 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.” 

A firm believer in the concept of holistic development, Gupta 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. His efforts have led to a positive impact on the lives of 2.8 million families in 3,463 villages across India.

Lupin sells a wide range of branded and generic formulations, biotechnology products, and APIs across more than 100 countries. Lupin was the only Indian pharmaceutical company to have made an entry into Japan, which is one of the toughest pharmaceutical markets in the world. It reported a consolidate revenue of Rs 17,119.8 crore in FY18.