Mazumdar-Shaw’s bold biotech mission: Affordable, accessible healthcare

“I came across a biotech entrepreneur from Ireland who basically said, why don't you join me and start this company in India? And I thought, why not? I have nothing to lose, so let me give it a go. I was interested in biotechnology, and I realized that India had no biotech industry. And I thought, wow. I think this is something I need to do for India. And that's how I ventured into biotech and started with making enzymes.”

“The other one is also about making a difference to health care now that I'm on this path of affordable access to life saving medicines. That to me is a very, very important and powerful purpose that I am pursuing because I really believe that, yes, we are doing wonderful things with science and coming up with wonderful new drugs and therapies, but how many people can afford it around the world? I am based in India, which I'm glad I am because I realized how little access patients in India have to new therapies and drugs.”

“Now the VCs are not doing their bit because I was just telling, the government today. I said because our regulatory pathways are so ad hoc and unpredictable. So no VC wants to invest in a good idea or a new idea because they don't know how long it will take to develop that idea and shape that idea and take it to the market. In India, we are stuck at just the early stage of government funding, and we are unable to move the wheel, if you know what I mean. So I think we really need to focus on how do we unleash this innovation potential by bringing about regulatory reforms.”

“First and foremost, I realized that it's easier to develop people when they come fresh from universities and shape their minds rather than try and take very experienced talent from the same sector or the industry because they come with a mindset. They come with a set of this is how we did it there kind of a attitude. And when you're trying to develop a very innovative culture, they find it much more difficult to adapt to what you're trying to do than, say, people who come from universities with an open mind.”

“I think it's really that problem solving culture, Gautam. If you give up a problem to an ordinary person with who doesn't come from great credentials, but you give them something which they can crack, something they can solve, they become far more confident. They have a sense of achievement, and then they take on bigger and bigger problems. That's what makes them extraordinary, finally.”

“Then the biggest risk I took was I said Mylan said, why don't we form a JV? And I said, no. I don't like JVs. Let me buy you out. And that was the biggest risk I took. I said, let me buy you out. And I made the biggest acquisition in Indian pharmaceutical history because nobody has acquired anything for $3,300,000,000. And today, we are already seeing that we are in a position to very comfortably pay down that acquisition debt that we have embarked on.”

“First and foremost, I really think, Gautam, everything is about short term. We all keep talking about long term, but we don't know what is in store in the long term. We just don't know how this business will look in ten years' time. So I keep focusing on five years and say, look. Let's be the best at what we can do over five years. And as we approach the end of that five year period, we'll know what the next five years is going to look like.”

“But I found for the first time, there was a researcher at Sloan Kettering who's using AI to look at tumor morphology in scans before and after treatment and then using AI to see who responded well, who did not respond well. And if now a person comes with this to this, scan with the where you know what the tumor morphology is like, you can actually decide what treatment that patient should get. Now these are the uses of AI which I find fascinating. Not just, oh, I can read out your scan in five minutes and give it to you.”

“I believe that the wealth that you create is not for yourself. You have to also share it with communities, with society, in whichever way you want to. That's your obligation, your prerogative. But don't just hoard that wealth for yourself. I think that wealth goes much further when you spread it in big societal impact.”