Entrepreneur, Self-Made Billionaire, Biotech Leader
About The Leader
About The Leader
Kiran Mazumdar-Shaw is the first self-made Indian women billionaire and a “myth breaker” who, despite the odds, created India's largest biotech company
Kiran Mazumdar-Shaw is an Indian billionaire entrepreneur.
She is the executive chairperson and founder of Biocon Limited and Biocon Biologics Limited, a biotechnology company based in Bangalore, India with a market capitalization of over $7B.
She was also the former chairperson of Indian Institute of Management, Bangalore.
Recipient of the Padma Shri and Padma Bhushan awards.
Recipient of the Order of Australia, Australia’s Highest Civilian Honor.
Recipient of Knight of the National Order of the French Legion of Honor, France’s Highest Civilian Award.
Her Purpose
"My legacy is going to be in affordable health care. I am willing to invest in developing that model and the policies around it."
"To enhance global healthcare through innovative and affordable biopharmaceuticals for patients, partners, and healthcare systems across the globe."
Case for Change
Case for Change
“I created a business that is all about making a difference to patients with affordable healthcare for all.”
Growth Gap
Growth Gap
“As of 2014, Biocon directed about 10% of its revenue into research and development, a much higher proportion than most Indian pharmacological companies. ”
Investment Portfolio
Investment Portfolio
“Made global investment and partnerships with state of art manufacturing facilities, research and insight capabilities. New and disruptive products, services and technologies are also a major goal at Biocon to make healthcare more affordable.”
Her Leadership Qualities
Her Leadership Qualities
Kiran Mazumdar-Shaw started a life sciences company four decades ago without any financial support or family business experience and made it into an empire one step at a time.
Myth Breaker
Myth Breaker
Following her father's wishes, she studied fermentation science to train as a brew master at Melbourne University in Australia. Then she wanted to be a master brewer in India, but nobody hired her because it was a “man’s job." She wenat on to start her own business in biotech, making it a multi billion-dollar empire.
Key Actions
Key Actions
As Shaw was not able to achieve success in the Indian brewing industry because of gender discrimination, she started to look for opportunities in other countries.
After finding a job in Scotland, she met Leslie Auchincloss, the founder of Biocon Biochemicals of Cork, Ireland, who offered her to be his business partner.
Leadership Behaviors
Leadership Behaviors
If one door closes, look for other paths and opportunities to follow your passion.
Lesson Learned
Lesson Learned
Be ready to move beyond your critics and be a myth-breaker
Auchincloss was looking for a partner in India to help establish an Indian subsidiary to supply him with Papain (an enzyme from papaya used to tenderize meat).
Initially Ms. Mazumdar turned him down as she has no business experience; however, she was later persuaded ... and that decision lead to the founding of Biocon in 1978.
Never Give Up
Never Give Up
She started Biocon India in 1978 in the garage of her rented house in Bengaluru with seed capital of Rs.10000. She faced a lot of initial challenges from hiring people with required skillsets, to getting funding, to poor infrastructure. Moving beyond these barriers, she managed to export product to the U.S. and Europe within the first year of the company's existence.
Key Actions
Key Actions
Since there was no venture funding in India in the late 1970s, she was forced her to create a business model built upon on revenues and profits.
She also faced difficulty in getting a loan from a bank. Later, a meeting with a banker at a social event helped her to get her first financial backing.
Leadership Behaviors
Leadership Behaviors
Looking for opportunities in moments of adversity.
Making progress one step at a time.
Lesson Learned
Lesson Learned
Entrepreneurship is about being able to face failure, manage failure, and succeed after failing
Her first employee was a retired garage mechanic and her first unit was in a 3,000-square-foot shed.
Despite these suboptimal business conditions for her startup, Shaw spearheaded Biocon's evolution from an industrial enzymes manufacturing company to a fully integrated bio-pharmaceutical company.
Turn Research Into Action
Turn Research Into Action
As of 2014, Biocon directed about 10% of its revenue into research and development, a much higher proportion than most Indian pharmacological companies. In addition to this research investment, she was able to create well-balanced business portfolio of products and partnerships to truly focus on “affordable healthcare."
Key Actions
Key Actions
Shaw always focused on affordable healthcare and dedicated much of her research budget to making low-cost healthcare products.
For example, approaching the patent expiration for the patent of the cholesterol-lowering drug lovastatin expired in 2001, she was one of the first business people to notice the market potential for statins (cholesterol fighting drugs). Biocon committed to developing the drug to make it cost effective.
Leadership Behaviors
Leadership Behaviors
Look at trends to create a sustainable future for all
Lesson Learned
Lesson Learned
Use research, innovation, and technology to create sustainable and affordable solutions accessible to all.
Statins account for over 50% of the company's revenue. The company has sold 3 billion doses of insulin to date and has Asia's largest insulin factory in Malaysia's Johor region.
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