BALTIMORE, Md., Nov. 15, 2012 /PRNewswire/ -- Vinita Gupta, CEO of Lupin Pharmaceuticals, Inc., was named the inaugural Ernst & Young U.S. 2012 Family Business Award of Excellence winner today at Ernst & Young LLP's 2012 Strategic Growth Forum in Palm Springs, CA.
Gupta was born into the pharmaceutical business, but it was her guidance and vision that established Lupin Pharmaceuticals, Inc. ("LPI") as the U.S. wholly owned subsidiary of Lupin Ltd., the company founded by her father. Today, LPI provides quality branded and generic medications in the United States. She was honored at a special luncheon as the inaugural recipient of the Family Business Award of Excellence. This 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.
"Gupta's father, Desh Bandhu Gupta, founded India's Lupin Ltd. in 1968, and as a teenager she accompanied him on business trips around the world, giving her a taste of global diplomacy and negotiation strategy," said 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, Vinita has come to be a great leader who will continue to take Lupin Pharmaceuticals to new heights."
Returning to the nest with new strategies
After completing school at the University of Mumbai, Gupta, initially a pharmacist by trade, moved to the United States to pursue an MBA at Northwestern's Kellogg School of Management. Upon graduating, she went to work for a large U.S. 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 U.S. to develop a plan for expanding the family business into the U.S. 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 U.S. drug companies by prescriptions sold and is the fastest growing of 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 U.S.
As the company has grown, 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. Gupta's team is entrepreneurial and works hard to develop smart growth using creative thinking when needed. Gupta's next challenge is finding a balance between work and life to spend more time with her own son.
Video and photos
To view video clips of all of the Entrepreneur Of The Year winners, please visit ey.com/us/eoy. Photos of the winners are also available by request.
Founded and produced by Ernst & Young LLP, the Entrepreneur Of The Year Awards are nationally sponsored in the United States by SAP America and the Ewing Marion Kauffman Foundation.
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SOURCE Ernst & Young LLP