Pharma Titans Converge in Mumbai for Pivotal Industry Dialogue
An unseasonably warm Sunday evening in suburban Mumbai provided the backdrop for a remarkable gathering of India's pharmaceutical establishment. Within the elegant ballroom of a five-star hotel, over 1,500 industry leaders, policymakers, academics, and entrepreneurs assembled for what began as a book launch but evolved into a profound examination of one of India's most vital economic sectors.
A Tribute That Sparked Future-Oriented Debate
The occasion marked the launch of Made in India, a comprehensive biography chronicling the life of Lupin's late founder Desh Bandhu Gupta and, through his journey, the remarkable ascent of India's pharmaceutical industry. Co-authored by TeamLease Services co-founder Manish Sabharwal and Mint columnist Sundeep Khanna over three intensive years, the manuscript underwent an extraordinary 28 revisions before reaching its final form—a testament to the meticulous process that mirrored Gupta's own perseverance.
The evening's centerpiece featured a powerhouse panel discussion moderated by Sabharwal, who is also Gupta's son-in-law. The conversation brought together pharmaceutical royalty: Sun Pharma founder Dilip Shanghvi, Dr Reddy's Laboratories co-chairman G.V. Prasad, Cipla patriarch Yusuf Hamied, Lupin's CEO Vinita Gupta, and Professor M.M. Sharma, former director of Mumbai's Institute of Chemical Technology. Their dialogue navigated seamlessly between nostalgic reflection and pragmatic assessment of the challenges ahead.
A poignant touch came from the evening's hosts—Gupta's grandchildren, Noor Sabharwal and Krish Sharma, whose presence underscored the event's underlying theme: the responsibility of building legacies and creating pathways for future generations.
The Urgent Need to Move Beyond Generics
The book itself weaves together three interconnected narratives: Desh Bandhu Gupta's extraordinary life, Lupin's evolution, and India's transformation into the "pharmacy of the world." These stories document how a nation once completely reliant on imported medicines developed companies that now supply affordable drugs globally. However, as multiple speakers emphasized, the industry's traditional strategies have reached their limits.
"What makes the book realistic is the candid details about Gupta's missteps beyond pharma," noted co-author Sundeep Khanna. "It brings to light the battles he fought apart from those building his business."
A clear consensus emerged during the panel discussion: India's dominance in small-molecule generics, while impressive, requires expansion into higher-value segments. The next growth phase demands progression toward biologics, biosimilars, and eventually genuine pharmaceutical innovation.
"If we don't move up that curve, honing our skills in biologics, biosimilars, peptides, fermentation byproducts, and more efficient ways to synthesize, we can't compete," asserted G.V. Prasad. "That, I think, is important for us...then you have innovation, which is a different game."
Addressing the Innovation Deficit
Several panelists confronted uncomfortable truths about India's innovation track record. Professor M.M. Sharma offered particularly candid criticism, questioning both the scale and seriousness of Indian research and development efforts. He argued that the country had wasted its early chemical industry advantage, allowing China to gain substantial ground.
Vinita Gupta suggested formulation engineering as a practical intermediate step. "I think we have the possibility of really doing novel formulations, which is not as risky as the new chemical entity," she observed. "We can double down on that."
She also advocated for a fundamental reorientation of research priorities: "What could we do differently? Instead of spending 70% of our research dollars on generics, we can try to shift that slowly to 70% innovation."
Dilip Shanghvi, whose Sun Pharma has selectively licensed innovative products, explained why genuine innovation remains challenging. "Our innovative products are licensed-in," he acknowledged. "That, we thought, was the best way to understand the business of innovation. Part of the handicap is also that there are not many entrepreneurs or CEOs in India who have managed innovation."
Collaboration, Talent, and Strategic Risk
The panel unanimously identified biopharmaceuticals as representing both tremendous opportunity and significant risk. Unlike small-molecule generics, biologics require longer development timelines, greater capital investment, and acceptance of potential failure—factors Indian companies have historically avoided.
Yusuf Hamied emphasized collaborative approaches: "At the root of it, the industry needs to come together to discuss how to make the leap toward innovation." He proposed industry-wide coordination to determine strategic priorities, using his own company's consumption of 140 tonnes of azithromycin annually as an example of decisions requiring collective consideration.
Talent acquisition emerged as another critical theme. Shanghvi stressed that future success would depend on recruiting highly specialized skills, potentially looking beyond India's borders. Sabharwal summarized this imperative succinctly: "I think they all have to globalize. They have already globalized their customers. They sell into other countries. I think they have to globalize their supply chains, their R&D chains. That is the future. Globalize means do more in India, but also go to where talent is."
An Industry at a Critical Juncture
The distinguished guest list highlighted the event's significance. Industry veterans like D.S. Brar mingled with technology leaders including Infosys co-founder Nandan Nilekani, reinforcing the understanding that Indian pharma's next chapter will intersect with policy, technology, and global capital in unprecedented ways.
As the evening concluded, Made in India stood not merely as a tribute to Desh Bandhu Gupta but as a reflective mirror for the industry he helped establish—an industry now facing decisive choices. The transition from reverse engineering to authentic innovation will undoubtedly be longer, riskier, and more uncertain. Yet if the conversations in that Mumbai ballroom serve as any indication, the industry's crucial self-examination has unequivocally commenced.
