Kiran Mazumdar-Shaw - Biocon Limited and Biocon Biologics Limited

Born to a brewmaster and a stay-at-home mom, Mazumdar-Shaw, raised in a progressive, middle-class family, defied societal norms by choosing education over an arranged marriage. Returning to India in 1975 after earning a B.S. in zoology from the University of Bangalore and an M.S. in brewing from Ballarat College in Australia, she faced job rejections due to gender bias, being told the industry was "too rough" for a woman.

Her luck turned when approached by Leslie Auchincloss, owner of Biocon Biochemicals, an Irish company attempting to enter India. Biocon India began with $10,000, aiming to produce enzymes for various industries. Despite facing concrete barriers, from difficulty renting space to reluctant bankers, Mazumdar-Shaw persevered. By the late 1980s, Biocon India turned profitable, generating $1 million annually. Auchincloss sold his stake to Unilever, and Mazumdar-Shaw maintained control, eventually founding Syngene, a separate drug services research company.

In the 1990s, Mazumdar-Shaw expanded into insulin production, capitalizing on Biocon's fermentation expertise. Despite challenges, including raising funds and navigating patent expirations, Biocon became the first Indian company granted FDA permission to sell a generic drug in the U.S. Today, it holds 50% of the U.S. market for the copycat version of lovastatin.

Beyond generics, Mazumdar-Shaw leads a team of 600 scientists in developing Biocon's patented drugs. The company has compounds in clinical trials, such as a monoclonal antibody for head and neck cancers and recombinant insulin. With $70 million raised in its public offering, Biocon is well-positioned for further growth. As U.S. pharmas seek cost-effective drug development, partnerships with Biocon, accounting for 15% of its revenue, are on the rise.