Meet Ramesh Juneja: MR who built one of India’s Largest Pharmaceuticals Company Valued at Over 43000 Crores
In the world of business, success stories are often attributed to those who come from privileged backgrounds or possess exceptional talent. However, Ramesh Juneja’s story is a testament to the power of hard work, persistence, and vision. From humble beginnings as a medical representative selling medicine samples, he rose to become the founder and chairman of Mankind Pharma, a multi-billion dollar pharmaceutical company. There was once a time when he used to wait hours to meet doctors and used to travel in roadways buses for the commute. The story of Ramesh Juneja is nothing short of a filmy one.
The pharmaceutical industry is one of the most booming sectors today. This industry is one of the largest in terms of producing effective solutions for the numerous health problems that exist in the globe today. The rapid increase in awareness of one’s health and the recent pandemic has placed the pharma industry at the center of the global business space. Mankind Pharma is one such major pharmaceutical firm in India, whose products have crossed borders and gained recognition worldwide. Ramesh Juneja is the brain behind this pharma giant.
Early Life and Career of Ramesh Juneja
Ramesh Juneja hails from Meerut, Uttar Pradesh. He was born in 1955 in a middle-class family. After completing his graduation in science, Ramesh Juneja began his career at KeePharma Ltd in 1974. The job required him to travel extensively and wait for long hours to meet doctors. He used to travel in UP Roadways Buses from Meerut to Purquazi to familiarize people and doctors with the company’s medical products. In 1975, he joined Lupin Limited as a first-line manager. He was employed there for over 8 years. During this time, he gained valuable insights into the industry and noticed a gap in the market for affordable medicines.
The Beginning of the Entrepreneurial Journey
During his job as a Medical Representative, he once witnessed a heart-wrenching event at a medical shop. One person offered his jewelry to the chemist in order to pay for his medical bills. This moved Ramesh to produce cheap medicines for the common people. With this motivation, he left his MR job to pursue his entrepreneurial journey. He founded a pharma company named Bestochem with his friend. But his initial venture resulted in failure and he had to leave this company in 1994.
The Birth of Mankind Pharma
Undeterred by his failure and motivation to make cost-effective medicines available to the masses, Ramesh founded Mankind Pharma. He founded Mankind Pharma with his brother Rajeev Juneja in 1995. The company began with an initial investment of Rs 50 lakh only, which he and his brother invested. Initially, the company began with a team of just 25 Medical representatives as its employees. Within one year of its inception, the valuation of the company reached 4 crores INR. The company’s focus on manufacturing and marketing affordable drugs for common uses proved to be one of the biggest factors in its success.
The success story of Mankind Pharma
What began with a small company with a 50 lakh investment became one of the biggest pharmaceuticals company in India. Some of the major milestones achieved by ManKind Pharma are listed below:
• The company entered into the over-the-counter segment in 2007
• In 2017, the company established Pathkind Labs for diagnostics and healthcare tests
• Mankind became the first Indian company and second in the world to develop and launch Dydrogesterone, a drug used in high-risk pregnancies and infertility by the brand name Dydroboon
• In April 2023, Mankind Pharma launched its IPO (Initial Public Offering) which saw transactions up to Rs 4326 core worth of shares
The current success of Mankind Pharma
The company is a low-cost generics champion and offers therapeutic products in a variety of categories, including antibiotics, gastrointestinal, cardiovascular, dermal, and erectile dysfunction drugs. Apart from the pharmacy, the company offers a diverse range of items in the OTC and FMCG sectors. The company is highly famous for its three major brands: Manforce, Prega News, and Gas-O-Fast. Mankind is India’s fourth-largest pharmaceutical company by domestic sales and the top two prescription drug companies by volume. The company generated around 7782 crores of revenue in FY22. The company is valued at around 5.26 Billion Dollars (more than 43000 crore rupees).
Ramesh Juneja has an estimated net worth is around 4.2 Billion Dollars (approx Rs 34,548 crores) as of 2022, as per Forbes. He was listed as the 42nd richest Indian’s list by Forbes in 2022. Despite the company’s success, Ramesh Juneja remains humble and grounded. He attributes his success to his team and his unwavering commitment to the company’s mission. He is known to be a philanthropist and has supported several social causes over the years.
Ramesh Juneja’s story is an inspiration to millions of aspiring entrepreneurs who dream of making it big in the world of business. Mankind Pharma’s success is a reflection of his vision and leadership skills. As the company continues to grow and expand, Ramesh Juneja’s legacy as a visionary leader and a game-changer in the pharmaceutical industry will continue to inspire generations to come.