Samprada Singh
| Samprada Singh | |
|---|---|
| Born |
1925 Gaya, Bihar, India [1] |
| Residence | Mumbai, Maharashtra |
| Nationality | Indian |
| Alma mater | Patna University (B.Com) |
| Occupation | Founder and Chairman of Alkem Laboratories, Ltd. |
| Net worth | US$ 2 billion (January 2015) |
| Religion | Hinduism |
| Website | [2] |
Samprada Singh is the founder and chairman[3] of Alkem Laboratories, Ltd., which develops, manufactures, and markets pharmaceutical formulations and neutraceuticals in India. It has operations in Europe, Africa, the Asia pacific, South America, and the United States. India.[4] In 2013,he was ranked as the 48th richest man in India by Forbes Magazine. Alkem is now the 5th largest pharmaceutical company in India.As of 2015,he has an estimated net worth of $2 billion
Singh is the recipient of many Pharma Leaders Awards. In 2009, Pharmaceutical Leadership Summit & Awards founded by Satya Brahma awarded the veteran leader with Life time Achievement Award for building Alkem as top Indian Pharma Company.[5]
Early life and business career
Singh founded Alkem Laboratories Ltd along with his younger brother Basudeo Narayan Singh, in 1973 and serves as its Chairman and his brother is the current Managing Director of Alkem. Singh is one of the most respected and successful entrepreneurs of the Indian pharmaceutical industry.[3]
Singh earned a BCom degree from Patna University's Gaya College of Engineering in Bihar in 1950. Singh holds a post-graduate degree in Political Science. How a young Patna University graduate with a simple family background became the head of the major pharmaceutical company in India is Samprada Singh’s unusual story. Mr Singh, founder and chairman of Alkem Laboratories, a $2.5bn pharma company, could probably say he owes his success to his initial misfortunes which he translated into success with entrepreneurial zeal and a positive mental attitude. Born and brought up in Bihar, he wanted to be a doctor. Since this dream could not be realised he was compelled to explore other pastures. In 1946, he entered Gaya College, Patna University to specialise in commerce. Once he obtained his graduate degree, Mr Singh thought he would, like his parents, work in agriculture. However, successive droughts in the Bihar constrained him to change his plans once again. In 1953 Mr Singh opened his first business, a small chemist retail store in Patna. Seven years after opening his medical store, Mr Singh felt it wasn’t enough. He started a business of pharmaceutical distribution in 1960 under the banner of ‘Magadh Pharma’. During these years, he started cultivating doctors and senior executives from major pharma companies. “My relationships with pharma big bosses were excellent,” he explains. Once again, after a few years, Mr Singh was already thinking of new ways to expand. Realising how limited were opportunities for the distribution business in Patna, he moved to Mumbai, where he decided to set up his own pharmaceutical company under the name ‘Alkem Laboratories’. The company’s beginnings were not easy, admits Mr Singh. “There were many conflicts of power then in the industry and many did not wish to see me succeed,” he said. Besides, “the capital initially invested in the company was small, and the first years were financially difficult.” The company started its activities by focusing on anti-bacterials, NSAIDs, etc., which at that time were prime therapeutic segments. Then came the turning point which catapulted Alkem Laboratories into the Big League. In 1989, Alkem Labs successfully manufactured and marketed Taxim, a generic version of the antibiotic cefotaxime. MNC Hoechst Marion Roussel (now Sanofi Aventis) were the innovators of the product and the company’s brand dominated the market at that time. “Aventis probably felt that a relatively small Indian company like ours may not pose them any threat but they were in for a big surprise. We surged way ahead of them,” said Mr Singh. The competitive prices offered by Alkem Labs could not possibly be matched by the French company, which soon had to completely halt production. “Taxim really changed the whole profile of the company. It gave the company more visibility and a new credibility,” he told ET. Today, Alkem Labs ranks number five in the domestic market and sells 75 million vials of Taxim per year, which probably represents more in terms of volume than any given molecule’s sales in the world. Taxim also accounts for around 15% of the company’s revenues. Over the years marketing and finance became Alkem’s strengths. Alkem Labs has a very strong track record of building brands. In fact, Alkem is today a zero debt company and 12 of the company’s brands feature among the top 300 pharma brands in India. Mr Singh mainly attributes the growth of his company to his ability to entertain the best relations possible with his employees, associates and distributors. “Gaining people’s trust and commitment is one of the most important things to succeed. You have to make sure that all people you work with, whether they work within or with the company, are happy and you have to make them grow too, as the company expands,” explains Mr Singh. At 83 years, Mr Singh still has great plans for the company’s future. Not only is he about to open a new division dedicated to nutraceuticals and food processing, but he also intends to make Alkem Labs one of the top five Indian pharma companies within 2 years, primarily by increasing international presence in addition to domestic consolidation. The target is set high at Rs.6000 crore for 2010. But Mr Singh is confident. “That’s not a problem, it will be easy,” he concludes with a smile. Mr Singh’s life story epitomises the old English adage “From tiny acorns grow mighty Company's headquarters and its factories." His brother looks after export as well as the generic division of Alkem. By 2016 they hope to double their current revenue. Samprada Singh is 88 years old and still regularly attends meetings and goes to the office every day. He believes that all his success was possible due to the constant support of his younger brother Basudeo Singh. He is currently the oldest entrepreneur in the pharmaceutical industry. Alkem Laboratories has its headquarters in Lower Parel (Mumbai). It has its factories all over India like Baddi (Himachal Pradesh), Taloja (Maharashtra Near Mumbai),Sikkim,Daman and some other location's are also there.[3][6][7][8]
Mahatma Gandhi has been a constant influence on his life. He comes from a family of nationalists.[4]
References
- ↑ http://www.bihartimes.in/Newsbihar/2013/Nov/newsbihar14Nov1.html
- ↑ http://www.forbes.com/profile/samprada-singh/
- 1 2 3 Samprada Singh. "Samprada Singh: Executive Profile & Biography - Businessweek". Bloomberg BusinessWeek. Retrieved 2013-09-30.
- 1 2 Ramesh Narayan (2008-02-07). "A patriarch in winter". Business Line. Retrieved 2008-10-02.
- ↑ Announcement (2009-04-09). "Pharma Leadership Summit brings together healthcare fraternity". Business Standard India. Retrieved 2016-09-22.
- ↑ "Alkemist got a winning formula - Economic Times". The Economic Times. 2005-12-24. Retrieved 2013-09-30.
- ↑ "BiharTimes a respectable brand for Bihar: Samprada Singh". Bihartimes.in. 2009-12-21. Retrieved 2013-09-30.
- ↑ "The Telegraph - Calcutta (Kolkata) | How I Made It". The Telegraph. Kolkota. 2008-09-02. Retrieved 2013-09-30.