Billion-Dollar Founder: Why Success In India Is So Hard | Kiran Mazumdar-Shaw | FO537 Raj Shamani
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Timestamps -
00:00 - Intro
02:37 - Childhood, Family Values & Father's Life Lesson on Merit
07:41 - Rejected by Breweries for Being a Woman
12:29 - Gender Bias in Funding & Starting Biocon Against All Odds
21:44 - The Science of Enzymes & Convincing Skeptical Banks
27:08 - The Art of Pitching: Telling Your Story Right
29:57 - From Enzymes to Pharma: Cracking Statins
31:15 - The Insulin Breakthrough That Disrupted Global Pricing
34:18 - Entering Cancer Biosimilars After Losing a Friend
36:56 - Biosimilars vs. Generics Explained
40:29 - Why Being First (Not Just Best) Matters
43:52 - Building Affordable CAR-T Cancer Therapy (Immuneel)
45:46 - The GLP-1 Weight-Loss Drug Debate
53:13 - How Pharma Pricing & Margins Actually Work
58:20 - A Near-Financial Crisis: The Loan Default Scare
1:03:45 - How Can People Who Have Self-Doubt Build Confidence?
1:07:13 - Why India Undervalues Innovation vs. the US
1:13:51 - The AI Pathology Startup India Let Slip Away
1:20:50 - Proving Global Pharma Giants Wrong
1:22:06 - What the World Gets Right (and Wrong) About India
1:26:43 - Bengaluru's Infrastructure & Civic Problems
1:30:14 - India's Civic Sense Crisis
1:35:44 - Why India Is Losing FDI to Vietnam & Indonesia
1:38:03 - Has She Ever Felt Humiliated?
1:41:58 - The Harshest Truth: Gender Bias in India
1:49:04 - How Biocon Silenced the "Wealth Destroyer" Critics
1:50:51 - Big Pharma Ethics & COVID Vaccine Inequality
1:55:52 - Choosing Her Successor: Niece Claire Mazumdar
1:58:54 - The Power of Authentic Networking & Friendships
2:02:47 - Separating Her Identity From Biocon
2:04:52 - One Advice No One Should Follow
2:06:03 - Outro
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In today's episode, we sit down with Kiran Mazumdar-Shaw, Executive Chairperson of Biocon Limited, to talk about rejection, risk, and how she built India's biggest biotech company from a garage.
We discuss why every brewery in India refused to hire her despite her topping her class, why her father refused to pay a capitation fee to get her into medical college, and why she believes India keeps losing its best ideas to the rest of the world. Kiran explains how she brought insulin prices down from ₹1,000 to ₹100, how a personal loss led her to develop cheaper cancer treatments, and why she thinks India's fear of failure is holding back real innovation.
The conversation also covers the $3.35 billion acquisition everyone called a mistake, why she's never once doubted herself in 48 years, and what she looks for in a successor after building a company from scratch.
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About Raj Shamani
Raj Shamani is an entrepreneur and the host of the Figuring Out Podcast. He sits down with experts, athletes, celebrities, billionaires, and world leaders to break down how they actually win: money, business, mindset, relationships, and life. He's also a bestselling author, speaker, and angel investor. His work sits at the intersection of business, psychology, and human behaviour.
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About Figuring Out
Figuring Out Podcast is a Candid Conversations University where Raj Shamani brings raw conversations with the Top 1% in India. Receive SMS online on sms24.me
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