Wednesday, March 2, 2016

Chennai Pharma Entrepreneur Braved Odds To Sell Meds In Latin America

When C.C. Paarthipan, a first-gen pharma entrepreneur, listed his tiny Chennai company, Caplin Point Labs–with revenues of less than $1 million–it was oversubscribed 117 times.

He raised about $900,000 in the 1994 IPO and deployed it in a formulations plant in Pondicherry. But in just a few years the company got mired in quality-control issues; consignments were rejected, and it became a penny stock

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