The Power Of I 2017

Master Innovator

Vishnukant Bhutada’s big bet on oncology has catapulted Shilpa Medicare into the global generics space

Photographs by Ra Chandroo

An Rs.800 crore success story woven out of a small town like Raichur — this was the vision of a first generation entrepreneur, Vishnukant Bhutada, managing director of drug manufacturer Shilpa Medicare. 30 years of being in business, Shilpa is among the leading suppliers of oncology APIs in the world with eight manufacturing plants and three R&D centres. When most pharma companies rushed to the US, the biggest pharma market, Bhutada took a different route choosing the rest of the world to establish its global footprint. After firmly establishing itself in Europe, Japan and other markets, the company made its foray into the US last year. While Europe forms the largest chunk of Shilpa Medicare’s revenues, its recent entry into the US markets is all set to push the company into a higher growth trajectory