The Empathetic Boss: Rajeev Juneja, MD and VC, Mankind Pharma Rajeev credits the company mantra of 'staying dynamic' as the reason behind its tremendous success over the years
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Thirty-three years ago, the idea of Mankind Pharma became a reality with 20 employees and a seed capital of INR 5,000,000. Fast forward to 2024, it has a market capitalization of approximately INR 1.06 trillion and is the fourth-largest pharmaceutical company in India in terms of domestic sales. Brothers Ramesh C. Juneja and Rajeev Juneja set out on a daring journey in 1991 and today see their products in pharmaceuticals, generic drugs, over-the-counter (OTC), FMCG, and diagnostics dominate the Indian pharma industry. It operates in 34 foreign countries in different continents including Asia, Africa, South-East Asia, the Gulf of Mexico, and the Commonwealth of Independent States (CIS).
Rajeev Juneja, managing director and vice chairman, credits the company mantra of 'staying dynamic' as the reason behind its tremendous success over the years. According to him, while Mankind Pharma has grown into a billion-dollar corporation with over 22,000 employees, maintaining a "startup culture" has been crucial. "In a fast-changing world, you cannot remain stationary," Juneja explained. "Every day is a new day. Be dynamic, understand the need of the hour, and be open to change."
Mankind Pharma's innovation doesn't stop at pharmaceuticals. In 2019, the company made headlines by becoming the first Indian firm and the second in the world to develop Dydrogesterone, a critical drug for high-risk pregnancies, sold under the brand name Dydroboon. In 2024, the company made the bold move of acquiring Bharat Serums and Vaccines (BSV) for INR 13,630 crore and expanding their reach into the healthcare sector.
Under Juneja's leadership, Mankind opened for its initial public offering worth INR 4,300 crore in May 2023. On being asked if going public has changed anything, he shares "IPO does what? It makes you more responsible."
The COVID-19 pandemic was tough for every industry leader but it taught important lessons to grow further and serve people against all the odds. For Juneja, the most valuable lessons was the use of technology with a strong focus on cybersecurity. "We learned that technology is very, very important. Before that, we were not there on the technology side. Sometimes certain things happen by default, by compulsion. As Indians, we learn certain things once we come to a certain place, then there is no return," he shared.
In addition to its pharmaceutical success, Mankind Pharma has ventured into new sectors, including agritech and pet care. While talking about his leadership style and philosophy, he said the most important thing is empathy and compassion. "You're supposed to have some kind of empathy for the people, those who are working, understand them, where they come from, where they stand, what capabilities they have got, what skill sets they have got. Once you understand them, give them the right job, right designation, right departments, and then tease them, train them, give them demonstration, become a role model," he concluded.
In the near future, the company plans to invest in R&D, expand into developed global markets, strengthen relationships with global pharmaceutical firms for technology and market access, and implement eco-friendly practices alongside sustainable production processes.
