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June 6, 2020
Dr. Kiran Mazumdar-Shaw from India named EY World Entrepreneur Of The Year 2020
LONDON, June 4, 2020 — Dr. Kiran Mazumdar-Shaw, the Executive Chairperson of India-based Biocon Limited, was this evening named EY World Entrepreneur Of The Year 2020 at a ground-breaking, virtual award ceremony. Kiran got picked from among 46 award winners from 41 countries and territories vying for the world title. In the award’s 20-year history, Kiran becomes the third EY World Entrepreneur Of The Year Award winner from India. She follows former Indian world title winners Uday Kotak of Kotak Mahindra Bank (2014) and Narayana Murthy of Infosys Technologies Limited (2005). She also becomes the second woman to hold the title, following Olivia Lum of Hyflux Limited from Singapore in 2011.
Kiran, 67, founded Biocon, a bio-enzymes company, in 1978 with just two employees and US$500. Since its inception, Biocon has grown to employ more than 11,000 people and become one of the most influential innovation-driven biotechnology companies in Asia with revenues of US$800m for FY19. Biocon and its subsidiaries are making a lasting impact on global health care. Millions of people living with diabetes now have access to affordable insulin. Further, millions more battling cancer, rheumatoid arthritis, and other debilitating diseases now have access to affordable biosimilars.
Manny Stul, Chairman and Co-CEO of Moose Toys and Chair of the EY World Entrepreneur Of The Year judging panel, said:
“Kiran is an inspirational entrepreneur who demonstrates that determination, perseverance, and a willingness to innovate can create long-term value. The judging panel was impressed by her ability to build and sustain growth over the past 30 years, her integrity, and passion for philanthropy that has delivered a huge global impact. She has built India’s largest biopharmaceutical company on a foundation of compassionate capitalism and putting patient needs before profits.”
Dr. Kiran Mazumdar-Shaw, the Executive Chairperson of Biocon Limited, said:
“At its core, entrepreneurship is about solving problems. The greatest opportunities often arise at the toughest times, which has been my experience throughout my entrepreneurial journey. My business focus is global health care and the provision of universal access to life-saving medicine; however, my responsibility as an entrepreneur is greater than simply delivering value to shareholders. Wealth creation can be a catalyst for change, and all entrepreneurs have a responsibility to the world around them and the communities in which they operate. Women also play a hugely important role in economic development. We must use EY World Entrepreneur Of The Year to encourage more women to participate in entrepreneurial pursuits. I feel honored to receive this prestigious award.”
Carmine Di Sibio, EY Global Chairman and CEO, said:
“Entrepreneurs are the unstoppable visionaries who inspire innovation and fuel growth and prosperity by building remarkable companies and services. Kiran’s passion for developing low-cost, cutting-edge pharmaceutical alternatives has brought affordable health care to patient communities worldwide. Her drive to innovate has created huge growth for Biocon Limited and helped diversify the company’s portfolio of therapies for chronic diseases. Kiran is a truly inspiring EY World Entrepreneur Of The Year winner.”
Stasia Mitchell, EY Global Entrepreneurship Leader, said:
“With an exceptional record in creating long-term value, Kiran’s clear vision of making a difference to the lives of millions of people around the world make her a worthy EY World Entrepreneur Of The Year winner. Her impact on improving global health access and affordability will endure for decades to come. She is a beacon for other entrepreneurs to follow.”
A first-generation entrepreneur, Kiran, graduated as a Master Brewer from a brewing school in Australia and returned to her native India in 1975 to find work as a brewmaster. After two years of unsuccessfully trying to overcome the hurdles of entering a male-dominated brewing industry, Kiran started Biocon Limited, producing bio-industrial enzymes in the garage of her rented house in Bengaluru, India. A year later, Biocon became the first Indian company to export proteins to the US and Europe.
Now, Biocon and its subsidiaries are the pioneers in areas less frequented by Indian pharmaceutical companies, including fermentation-based small molecules, human insulin and insulin analogs, biosimilars for essential antibody drugs, novel therapies, and high-end contract research services. The company has customers in over 120 countries. It is a world leader in biosimilars and other specialty molecules. In 2014, Biocon was India’s first biotech company to go public and only the second Indian company to pass the US$1b mark on its first day of listing. The company’s market capitalization is currently over US$4b.
Biocon is also leading the way to universal access to affordable life-saving medicine. For example, in September 2019, the company announced that it would supply RH-insulin at less than US$0.10 per day (for the average 40 units of insulin required per patient per day) to low- and middle-income countries — less than a third of current RH-insulin prices. The company has supplied more than 2 billion affordable doses of biosimilar insulins to patients globally in the last 15 years.
Compassionate capitalism that addresses inequality is at the center of Kiran’s business and leadership philosophy.
Manny Stul, Chairman and Co-CEO of Moose Toys and EY World Entrepreneur Of The Year 2016 winner, chaired the independent judging panel. Joining him were:
- Rosaleen Blair, CBE, Founder and Chair of Alexander Mann Solutions
- George Hongchoy, Executive Director and CEO of Link Asset Management Limited
- Hernan Kazah, Co-Founder and Managing Partner of Kaszek Ventures
- Sipho Nkosi, Chairman of Sasol
- Emine Sabancı Kamışlı, Co-Founder and Vice Chairperson of Esas Holding
According to EY, “EY Entrepreneur Of The Year is the world’s most prestigious business awards program for unstoppable entrepreneurs. These visionary leaders deliver innovation, growth, and prosperity that transform the world.”
Source: EY
|GlobalGiants.Com|
Edited & Posted by the Editor | 1:33 AM | Link to this Post
