Pankaj Patel
Pankaj Patel | |
|---|---|
| Born | March 16, 1953 India |
| Occupation(s) | Entrepreneur, Businessman |
| Known for | Chairman of Zydus Lifesciences |
| Notable work | Development of Lipaglyn, introduction of VaxiFlu-s vaccine, leadership of Zydus Lifesciences |
Pankaj Ramanbhai Patel (born 16 March 1953) is a prominent Indian billionaire entrepreneur and serves as the chairman of Zydus Lifesciences, which ranks as the fifth largest pharmaceutical company in India.
As of October 2024, Patel was positioned 24th on the Forbes list of India's top 100 wealthiest individuals, with an estimated net worth of $10.2 billion.
In January 2025, he was honored with the Padma Bhushan, India's third highest civilian accolade, recognizing his significant contributions to Trade and Industry.
Early life
Belonging to the Gujarati community, Patel was actively involved in student leadership roles and participated in the Navnirman Movement during his youth. From the age of eight, he accompanied his father to their manufacturing facility, gaining early insight into pharmaceutical production processes.
He earned both Bachelor and Master of Pharmacy degrees from L.M. College of Pharmacy under Gujarat University, along with a Bachelor of Arts degree in Science and Law from the University of Mumbai.
Zydus journey
Following his graduation in 1976, Patel joined Cadila Healthcare, a company established by his father in 1952. In 1995, Cadila Laboratories and Cadila Healthcare separated under the Zydus Group umbrella — a name derived by altering "Zeus" to "Zydus." Patel assumed leadership after this division, overseeing both Zydus Lifesciences and Cadila Healthcare. At that juncture, the business was grappling with financial difficulties, generating revenues of Rs. 200 crore against overheads amounting to Rs. 400 crore.
Zydus became the pioneering Indian firm to develop Lipaglyn, which gained approval in 2013 as the world’s first medication specifically targeting diabetic dyslipidemia by managing blood sugar and cholesterol levels. Additionally, they manufacture Atenolol tablets used for controlling hypertension.
The Sugar-Free brand under Zydus Wellness emerged as a top sugar substitute product, while Everyuth face wash enhanced the consumer goods segment of the enterprise. Patel also obtained authorization to introduce VaxiFlu-s, India’s inaugural H1N1 vaccine, placing Zydus ahead of other vaccine producers. The company now boasts one of the largest vaccine portfolios in India, encompassing more than a dozen vaccines.
Under Patel’s guidance, Zydus expanded into India’s fifth largest pharmaceutical manufacturer with operations spanning 70 countries worldwide. In domestic animal healthcare markets, it holds second place. Revenue surged from Rs. 250 crore in 1995 to Rs. 1,000 crore by 2000, eventually exceeding Rs. 6,300 crore in FY2013. The company operates manufacturing and research centers across five Indian states and maintains a global footprint including the United States, Europe (notably France and Spain), Latin America, South Africa, and 25 emerging markets. Zydus formed a strategic partnership with German biotech firm Pieris Pharmaceuticals focused on protein therapeutics development. It was also the first company to file for generic approval in the US for Shire PLC’s $1.1 billion ulcer drug Lialda, securing six months of FDA market exclusivity.
Patel serves as chairman of Zydus Hospitals, a leading hospital network based in Gujarat.
During the COVID-19 crisis, Patel oversaw expansion efforts that positioned Zydus as a major producer of hydroxychloroquine and introduced a version of Remdesivir. The company also developed Zycov-D, an indigenous COVID-19 vaccine candidate.
Leadership roles
Between 2016 and 2017, he held the presidency of the Federation of Indian Chambers of Commerce & Industry (FICCI), recognized as India's oldest and largest non-governmental business association.
Prior to assuming the Chairmanship of the Board of Governors at the Indian Institute of Management, Ahmedabad, he contributed as a board member for eight years. He also leads the boards of the Indian Institute of Science Education and Research, Kolkata, Indian Institute of Technology, Bhubaneswar, Indian Institute of Management, Udaipur, and Kamla Nehru Institute of Technology, Sultanpur. Furthermore, he participates on the governing board of Ahmedabad University, chairs its School of Life Sciences, and holds a position on the board of management at Narsee Monjee Institute of Management Studies.
Since 2011, he has served as Executive Chairman, Vice President, and Trustee of the Gujarat Cancer Society, alongside his role as Chairman of the Gujarat Cancer and Research Institute—one of India’s prominent regional cancer centers dedicated to aiding economically disadvantaged patients.
His leadership extends to multiple nonprofit entities, including chairing the Deaf and Mute School in Ahmedabad and directing the Zydus Foundation, which founded Zydus Hospital and Medical College in Dahod.
Patel was designated as a Part-Time Non-official Director on the Central Board of the Reserve Bank of India for a term lasting four years. He is actively involved with significant policy organizations such as Invest India, the Mission Steering Group under the National Health Mission, and the Drug Technical Advisory Board under the Ministry of Health & Family Welfare. Additionally, he serves on the Governing Board of the Indian Pharmacopoeia Commission and is a member of the CEO Advisory Committee for the International Generics and Biosimilars Association (IGBA).
His professional network includes memberships in leading industry bodies like the Indian Pharmaceutical Alliance, Indian Drug Manufacturers Association, Basic Chemicals, Pharmaceuticals and Cosmetics Export Promotion Council, and Gujarat Chambers of Commerce and Industry.
Recognition and accolades
In 2003, Patel was honored with the title "Best Pharma Man of the Year" by the Foundation of Indian Industry and Economists in acknowledgment of Cadila’s expansion under his guidance. He foresaw that Zydus Cadila would rank as India’s third-largest pharmaceutical company by 2005.
He has authored over 100 scientific papers and is credited as co-inventor on upwards of 64 patents. Patel earned an honorary Doctor of Science degree from Dr. A.P.J. Abdul Kalam Technical University in Lucknow.
The World Pharmaceutical Frontiers featured him among their inaugural Pharma 40 list highlighting the globe’s most impactful healthcare leaders. His professional achievements have been recognized with distinctions including the Acharya PC Ray Memorial Gold Medal, Eminent Pharmacist Award, India Innovator Award at CNBC’s India Business Leaders Awards, and Ernst & Young’s Entrepreneur of the Year Award in Life Sciences. In January 2025, he received the Padma Bhushan for his significant contributions to trade and industry.
Personal life
Patel is wedded to Priti Patel, who is the daughter of Dr. B D Patel, and together they have two children. Their son, Dr. Sharvil Patel, serves as the managing director of Cadila Healthcare Ltd. and is married to Meha. Their daughter, Shivani, is wed to Pranav D Patel.
An avid traveler, Patel has a particular fondness for exploring rivers and mountainous regions and maintains an interest in theatre arts. In August 2012, he partnered with Dinesh Patel from Sintex Industries to acquire a Challenger-604 aircraft.
As a distinguished philanthropist, Patel places importance on contributions that extend beyond financial support, including dedicating time, sharing ideas, and engaging in volunteer work. He generally opts to keep the details of most of his charitable activities private.