Chirayu Amin is an Indian billionaire businessman who has had a remarkable career spanning sports administration and the pharmaceutical industry. He is best known for his tenure as the interim chairman of the Indian Premier League (IPL) from 2010-2011, and for leading Alembic Pharmaceuticals as its chairman and managing director.
Amin took over as IPL chairman in 2010 after the controversial exit of Lalit Modi. As the head of the Baroda Cricket Association at the time, Amin was seen as a stable hand to steer the IPL after the turbulence of the Modi era. During his 17-month stint, Amin helped clean up the IPL’s image and operations.
However, Amin’s primary focus has been on growing his family’s pharmaceutical business. He is the third generation head of the Vadodara-based Alembic group, which was founded in 1907. Under Amin’s leadership since the 1980s, Alembic Pharmaceuticals has emerged as a leading player in the Indian pharma industry.
The company manufactures a range of branded and generic formulations, APIs and intermediates. It has a strong presence in chronic therapeutic areas like cardiology, diabetes, and psychiatry. In the 2022-23 fiscal year, Alembic Pharma posted revenues of over Rs 7,000 crore.
Amin has led Alembic’s expansion in the domestic and international markets. The company has made several strategic acquisitions and investments to boost its product portfolio and manufacturing capabilities. It now has state-of-the-art plants in Gujarat and Sikkim. Alembic is also increasing its R&D spend to develop a pipeline of complex generics for the US and other regulated markets.
The success of Alembic has made Amin one of India’s richest businessmen, with a net worth of around $1.6 billion. But beyond his corporate achievements, Amin is also known for his low-profile personality and philanthropic efforts. The Alembic group supports several educational institutions and hospitals in Gujarat through its CSR initiatives.
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From steadying the ship at the IPL to transforming Alembic into a pharma powerhouse, Chirayu Amin has showcased his leadership skills across different domains. With Alembic Pharma well-positioned for growth in India and overseas, Amin looks set to take his company to even greater heights in the years ahead.
