Basudeo Singh revealed that they moved to Mumbai to start their own Pharma company with just Rs 5 lakh. After getting all the resources and licenses, the duo founded Alkem Laboratories in 1973.
Basudeo Singh is one of the biggest names in the Indian pharmaceutical Industry. The 83-year-old veteran is currently the executive chairman of Alkem Laboratories which currently has a market cap of more than Rs 45000 crore. As per Forbes, Basudeo Singh currently has a net worth of Rs 17,499 crore but the things weren’t always the same for him. Born in Bihar, Basudeo Singh was working as professor before he accompanied his cousin brother Samprada Singh in an entrepreneurial journey that would change their lives. A graduate in BA (Honours) and MA in political science from Patna University, Basudeo and his brother tried their hands at pharma distribution business in their hometown in 1962 and after tasting initial success, the duo decided to start their own pharma company.
In an interview to Forbes, Basudeo Singh revealed that they moved to Mumbai to start their own Pharma company with just Rs 5 lakh. After getting all the resources and licenses, the duo founded Alkem Laboratories in 1973. Although they had their own pharma company now, they didn’t let go of their flourishing distribution business. With the help of its own manufacturing unit, Alkem Laboratories was able to touch a revenue of Rs10 crore in 1984.
After a couple of decades, the company launched a medicine called Taxim that is used to treat a variety of bacterial infections. That was a turning point for the company because Taxim became the first anti-infective drug to cross annual sales of Rs 100 crore in India. The company was able to cross Rs 1,000-crore revenue mark by 2008.
Continuing on that path, Alkem Laboratories acquired a range of the companies over the years including Pharmacor, Ascend Laboratories, Enzene Biosciences, and others. The company successfully completed an initial public offering (IPO) in 2015 and in 2019 it crossed a revenue milestone of $1 billion. The company benefited heavily through its Trade generics during the Covid-19 pandemic. For those who are unaware, Trade generics are directly sold through retailers and distributors without physicians recommendation.
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
 "Basudeo Singh")
){kind=small}
){kind=small}
){kind=tracking}
){kind=small}
){kind=small}
)
){kind=small}
){kind=small}
)
)
)
)
)
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}