Lupin founder, chairman Gupta dies

MUMBAI — Dr. Desh Bandhu Gupta, chairman and founder of Lupin, passed away early Monday in Mumbai at the age of 79, the company has announced. Born in Rajgarh, Rajasthan, Gupta moved to Mumbai and founded Lupin in 1968 with the goal of providing high-quality medicines at affordable prices.

Under Gupta, the company grew from a domestic Indian pharmaceutical company to  a major global force — currently the fourth-largest global generics company by market capitalization, according to the company. In 1988, he established the Lupin Human Welfare and Research Foundation to fight poverty by encouraging sustainable development in rural India, which has had an impact on the lives of 2.8 million families in nearly 3,500 Indian villages.

“We are deeply saddened with the demise of our father early this morning. What DBG put in motion 50 years ago in helping to create, innovate and lead in the pharmaceutical space is an unparalleled legacy. Those who knew and worked with DBG, remember him giving generously and fostering a dynamic environment where people could learn and grow. We will continue to build on his legacy and live by the values he instilled.”