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Dilip Shanghvi

Founder & MD, Sun Pharma

Search every verified Dilip Shanghvi interview, podcast appearance, and on-the-record quote — each transcript cross-checked by AI and human review to confirm speaker identity. Dilip Shanghvi, founder and managing director of Sun Pharmaceutical Industries, received the India Business Icon award at the NDTV Profit Business Leadership Awards 2026 in July. At the ceremony, he said the award recognized the Sun Pharma team and credited government policy changes for facilitating business, noting that a recent $12 billion acquisition financing required only routine regulatory approval, compared to the six months needed to raise $12 million for his first international acquisition in the late 1990s. In an August fireside chat at the IAA Leadership Awards, Shanghvi discussed Sun Pharma's acquisition strategy, saying the company does not specifically seek distressed businesses but rather targets companies it believes it can operate better than current owners and that are strategically important for its long-term goal of becoming a global company. He described making Sun Pharma a truly global company and developing innovative drugs researched and launched from India as unfinished business. He also said he sees artificial intelligence strengthening medical representatives' relationships with doctors and enhancing research, manufacturing, and regulatory capabilities. During Sun Pharma's Q1 FY27 earnings call in late July, management, including Shanghvi, reported that emerging market performance was affected by geopolitical issues and difficult macroeconomic conditions in certain countries, and noted continued investment in R&D, with innovative R&D accounting for 30 percent of total R&D spend.

Recent appearances

Verified interview transcripts

Notable quotes

“I think one important unfinished business is to make Sun Pharma a global company because we are a large international company, but we're not truly a global company. The second important part of my unfinished business is to have a few innovative drugs made developed in India, researched in India, launched globally.”

“We don't buy distressed company per se, but we buy companies which we think we can run better than the current owners, but more important than that I think we need to see whether it is strategically important for us to acquire that business.”

“But, we should be able to repay the debt within a reasonable period of time, and we've been disciplined about repaying debt in the past, and we'll continue to be disciplined post the closing of transaction.”

“No, I I think you know that as a company, we ourselves are debt averse. However, we are not risk averse. So, at some point of time, when we think that the debt will help us scale the business and change the trajectory of the business, uh we are comfortable with debt.”

“Whatever decision that we will take for what to do with the future dividend policy, we will factor this preference and liking of our shareholders while we take a decision. And we will keep people informed. As on today, when we've done the cash flow calculations and our desire to repay the debt, I think we've kept a provision so that we will continue to have the dividend maintained.”

“This debt, even though large in terms of overall size, it's still going to be 2.3 times the combined company EBITDA. And we have a focused effort towards finding a way to minimize the debt by finding a way to repay the debt as early as possible.”

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