Source of Wealth:Pharmaceuticals
Full Name:Andreas Strungmann
Occupation:Co-Founder of Hexal AG
Education:University of Buffalo (M.D.)
About Andreas Strungmann
Andreas Struengmann is the co-founder of Hexal AG and he has an estimated net worth of $3.2 billion as of May 2015 according to Forbes. He is the 25th richest person in Germany and the 395th in the world. He holds a Medical Doctor degree from the University of Buffalo.
Struengmann gained his estimated net worth of $3.4 billion when he and his twin brother, Thomas, created the generic drug maker in the mid-80's. It is now a German subsidiary of the pharmaceuticals company Novartis and the largest generics company in the German market. Two decades after, the brothers sold the company and their two-thirds stake for $7.5 billion to Eon Labs of the U.S to Novartis.
Andreas and Thomas have been investing primarily in the German biotech sector through their Santo Hodling which focused on cancer research. The company acquired the majority of the anti-infective division from Bayer, now AiCuris, in late 2005. AiCuris struck a deal in October 2012 with Merck which acquired the rights to develop and sell drug candidates for AiCuris. The two have also established a neuroscience research center in Frankfurt which they named after their father Ernst Struengmann.
Leave A Comment
Looking for an AD FREE EXPERIENCE on TheRichest?Get Your Free Access Now!