16 Nov 2012, BioSpectrum Bureau , BioSpectrum
Bangalore: Ms Vinita Gupta, CEO, Lupin Pharmaceuticals, was named the inaugural Ernst & Young US 2012 Family Business Award of Excellence winner at Ernst & Young's 2012 Strategic Growth Forum in Palm Springs.
Ms Gupta, who was previously awarded the Entrepreneur of the Year 2012 Award in the Health Services and Technology category by Ernst & Young, has with her guidance and vision established Lupin Pharmaceuticals (LPI) as the wholly owned US subsidiary of Lupin India, a company founded by her father Mr Desh Bandhu Gupta in 1968.
The award recognized an entrepreneurial venture that is led by a second or later generation family member or multiple members of family, with plans to carry the business forward for future generations.
As a teenager she accompanied her father on business trips around the world, giving her a taste of global diplomacy and negotiation strategy," said Mr Bryan Pearce, Americas director, Entrepreneur Of The Year, Ernst & Young LLP. "Through these early valuable experiences with her father, and her continued education in business, education, and pharmaceuticals, Ms Vinita has come to be a great leader who will continue to take Lupin Pharmaceuticals to new heights."
After completing school at the University of Mumbai, Ms Gupta, initially a pharmacist by trade, moved to the US to pursue an MBA at Northwestern's Kellogg School of Management. Upon graduating, she went to work for a large US pharmaceutical company before quickly realizing that the day-to-day monotony was not for her. She returned to India in 1992 with a mission to use her extensive knowledge of the Lupin business and the skills acquired during her time in the US to develop a plan for expanding the family business into the US and European markets.
LPI now has 40 generic products on the market. Approximately half of these products are the market leaders, and almost all of them are in the top three of market share. LPI is ranked in the top five US drug companies by prescriptions sold and is the fastest growing among the top 10. The company has a remarkable customer service level due to the seamless integration of its products and its thorough understanding of the customs in both India and the US.
As the company has grown, Ms Gupta has built a team to manage the daily operations, including branding, sales, supply chain, pursuits and company culture. Many of the people added to her team were based on recommendations from customers. Her goal is to hire employees with a mindset similar to that of the existing company culture. Ms Gupta's team is entrepreneurial and works hard to develop smart growth using creative thinking when needed.