Binish Chudgar, Vice Chairman and Managing Director of Intas Pharmaceuticals was presented the EY Entrepreneur of the Year 2018 Award by Shri Devendra Fadnavis, the Honorable Chief Minister of Maharashtra, who was the Chief Guest at the Awards Banquet. In his acceptance speech he dedicated the award to “ India pharma industry “ and employees of Intas . Over 500 business personalities attended the gala to celebrate the 20th edition of the EOY Awards in India.
Azim Premji, Chairman of Wipro was honored with the Lifetime Achievement Award for putting the Indian information technology industry on the global map and for his laudable contributions to society as a philanthropist. Mr. Binish Chudgar, Vice Chairman & Managing Director of Intas Pharmaceuticals Ltd., was awarded the prestigious Ernst & Young 'Entrepreneur of the Year 2018' Award in the Life Sciences & Healthcare category. The gala ceremony was held in Jio Garden, Mumbai, India on 12th February, 2019.
EY Entrepreneur of the Year is the world's most prestigious business award for entrepreneurs. As the first and only truly global award of its kind, EY Entrepreneur Of The Year™ celebrates those who are building and leading successful, growing and dynamic businesses, recognizing them through regional, national and global awards programs in more than 145 cities in 60 countries.
On receiving the award, Mr. Chudgar said that, "this was an achievement for the entire pharmaceutical industry and invited them to join hands and move forward with dedication and determination. He also expressed his concern about health issues ailing the country and pledged to overcome them. Finally, he dedicated the award to Team Intas, who he said are the backbone of the company."
A second generation entrepreneur, Binish Chudgar is the Vice Chairman and Managing Director of Intas Pharmaceuticals, who first held the reins of the company in the early 1990s, leading strategic growth and finance. Under his leadership, the company has seen exponential growth from <US$1 million to over US$1.7 billion (as of March 2018). Over the years, Mr. Chudgar has worked towards expanding the company's footprint in new product segments as well as markets. He also spearheaded the company's biologics strategy, making it the first Indian company to launch a biosimilar in the highly regulated markets of the EU, the US and Japan. Today, Intas is the largest privately-held pharmaceutical organisation in the country.
Mr. Chudgar first held the reins of Intas in the early 1990s, where he led strategic growth and finance. When he joined Intas Pharmaceuticals, the company’s turnover was less than $1 million. Today, Intas is a $1.7 billion multinational organization rapidly rising up the ranks across more than 85 countries. Mr. Chudgar is always looking to “what next” and has been instrumental in making Intas a “future ready” organisation. Expanding Potential & Presence Over the years, he has driven the strategic expansion of the company’s product basket as well as market presence. In the domestic market, Intas is ranked at 10th and enjoys leadership positions in several chronic disease segments. Intas has setup a network of subsidiaries under the umbrella name of Accord Healthcare for global markets, mainly the US and Europe. It is ranked among the top 10 pharmaceutical companies in the US generics market by prescription volume and has the widest European presence amongst Indian pharmaceutical multinationals. In 2017, private equity firm ChrysCapital sold the company’s 3% for INR6900 million, thus valuing the firm at US$3.5 billion, making Intas the country’s most valued privately-held pharmaceuticals company. Intas is currently growing with ~20% CAGR over the last five years, with 70% of revenues coming from international operations. A Game Changer Mr. Chudgar’s most defining moment as Intas’ leader was the landmark acquisition of Actavis UK Ltd. & Actavis Ireland Ltd. from Teva Pharmaceutical Industries Ltd. for a deal worth ~£600 million, which was the largest inward investment by an Indian company into the UK since the EU referendum. It has more than doubled Intas’ pan-European operations, making Intas a top 20 generics player globally and amongst the top 3 players in the UK and Ireland Generics Market. Envisioning the Future By continuing his aggressive strategies and acquisitions, he is determined to lead Intas amongst top 5 Indian pharmaceutical companies by 2020.