"When I founded Lupin over 48 years ago, the goal was simple: to manufacture and deliver quality, affordable medicines of the highest national and social priority", Gupta said in the company's FY16 annual report.
Dr. Gupta's children Vinita, CEO and Nilesh, MD - Lupin in a statement said "We are deeply saddened with the demise of our father early this morning".
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Gupta moved to Mumbai and founded Lupin in 1968 with a capital of Rs5,000. "What DBG (Desh Bandhu Gupta) put in motion 50 years ago in helping to create, innovate and lead in the pharmaceutical space is an unparalleled legacy", Vinita Gupta, chief executive officer and Nilesh Gupta, managing director of Lupin, said in a joint statement. It further said, "Those who knew and worked with DBG, remember him giving geneously and fostering a dynamic environment where people could learn and grow". The BSE Sensex-30 company, Lupin is now the 4th largest generics pharmaceutical player by market capitalisation in the world. "We will continue to build on his legacy and live by the values he instilled".
Born in Rajgarh, Rajasthan, Gupta earned a master's in chemistry and started his career as an associate professor at Birla Institute of Technology and Science at Pilani in Rajasthan.
Lupin is a pharmaceutical company which develops and delivers a wide range of branded and generic drugs. For the financial year ended 31st March, 2017, Lupin's Consolidated sales and Net profit stood at Rs. 171,198 million (USD 2.55 billion) and Rs. 25,575 million (USD 381 million) respectively.
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.
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