Founder and Chairman of pharma major Lupin, Desh Bandhu Gupta passed away this morning in Mumbai.
Gupta (79), founded Lupin in 1968 and created a global pharmaceutical major with a presence in over 100 countries. He is survived by wife, four daughters and a son.
"We are deeply saddened with the demise of our father early this morning," Lupin CEO Vinita Gupta and MD Nilesh Gupta said in a joint statement.The company, however, did not elaborate on the cause of his death.
Gupta, an MSc in Chemistry, helped Lupin become a pioneer in the Indian pharmaceutical landscape. The company grew from being a domestic Indian pharmaceutical firm to a global pharmaceutical major. It is now the 4th largest generics pharmaceutical player by market capitalisation in the world.
Born in Rajgarh, Rajasthan, Gupta was also a nationalist,who believed in the concept of holistic development. He also set up Lupin Human Welfare and Research Foundation (LHWRF) in 1988 to eradicate poverty by encouraging sustainable development at the grass root level in rural India.
His efforts have led to a positive impact on the lives of 2.8 million families in 3,463 villages across the country, the company said.
Gupta will be remembered for his vision to fight life threatening diseases of the highest national priority by delivering good quality medicines at an affordable price.