Kiran Mazumdar Shaw Quotes

How does Kiran Mazumdar-Shaw choose one idea over another? She asks herself seven questions. Do I have a basic understanding of the area? Do I know something about what is happening in the larger space of that idea? How will I build differentiation, particularly if the idea is a common product? How do I make it affordable and at the same time, deliver high value? Wherever there is a collaborator involved in the ideation process, how do I create larger leverage through the relationship beyond just that one idea? Do I know upfront who will be a paying customer and how I will go about marketing my idea? Finally, do I have conviction about the idea?

After almost eighteen months of trying to convince Kiran to dilute her stakes, a large delegation, which included the global head of R&D at Unilever and his team, came to Bengaluru. In the opening meeting, Kiran gave a presentation, and her first slide, memorable to many, declared that there were three types of companies: # Companies which make things happen # Companies which watch things happen # Companies which wonder what happened Biocon India, she said, was the first type of company and Unilever was the third type. That in-your-face presentation left everyone stunned. ‘We didn’t know where to look. There were board members, some senior managers and the head of Hindustan Unilever. Those days we did not have [smart] phones to fiddle with, we just went red in the face,’ recalls Bharadwaj. If egos were bruised, nobody showed it.

Ostholm’s managerial compass at Astra had been consistent for twenty-four years. Once, he spotted a distraught person, possibly Swiss, at Basel airport. When he walked up to him, he learnt that the young man had failed in his job interview at a pharmaceutical company. The researcher had an idea of preventing acid secretion in the stomach by shutting down proton pumps. After Ostholm showed interest, right there at the airport, the man drew a diagram to explain the idea. Ostholm asked if he had a molecule in mind. Convinced by the man’s reply, he instantly wrote him an offer letter and invited him to Stockholm. Astra was already working on anti-ulcers and the drug that Ostholm’s offer letter propelled was the multi-billion-dollar anti-ulcer drug Omeprazole which turned around Astra’s fortunes. If Ostholm sensed a scientist’s passion, he would brook no barrier to his/her support.

Don’t be fixated on following one particular path. For, if it doesn’t work out, you could be very disappointed. Instead, look around and keep looking. There are many paths one can follow. One may not work out, but the other might. Always remember, when opportunity knocks, don’t knock opportunity! Kiran Mazumdar-Shaw

Always remember, when opportunity knocks, don’t knock opportunity! Kiran Mazumdar-Shaw

After Chandavarkar shortlisted a few candidates in 1997, Kiran came in for the final interview. All five shortlisted students already had job offers in hand. The interview lasted forty-five minutes, of which Kiran spoke for forty. She spoke about why she wanted to enter pharmaceuticals and how she wanted the company to grow. That ‘campus-placement experience’ was different for Shreehas Tambe. ‘My offer was from Lupin; I don’t think D.B. Gupta [founder and chairman of Lupin] gave a damn about who was joining the company. A general manager had come from Tarapur and we were all very happy because the salary was nice,’ says Tambe, a hefty man with a sense of humour. On hearing Kiran out, he was impressed that the ‘chairperson’ of the company was explaining to a fresher what the vision was. At twenty-three, the idea of working in a pub city wasn’t bad even though leaving Mumbai was not in his scheme of things. ‘I thought it’d be fun to check out the city for two to three years and then come back to Mumbai,’ he remembers thinking. Kiran said she had spoken to his placement manager; she knew his salary and would match it. She insisted that he say yes to the offer right then. Tambe was anxious. He had not submitted his master’s thesis and his supervisor, J.B. Joshi, generally decided where his students would go, which often was Reliance Industries. Surprisingly, after some intimidating remarks like ‘how could you attend the campus interview without asking me’, Joshi encouraged him to join Biocon. He did not conceal his cautionary advice though: ‘Come back after two years, finish your Ph.D and then we’ll see.