Hasmukh Chudgar: A Self-Made Billionaire Who Launched Affordable Drug To Treat Breast Cancer
New Delhi: Hasmukh Chudgar is a self-made billionaire who founded generics maker Intas Pharmaceuticals in 1977. Mr Chudgar is one of the oldest billionaires in India with a net worth of $7.6 billion, according to the Forbes real-time net worth tracker. The low-profile businessman handed over the business to his sons Nimish and Binish who now run the $2.3 billion (revenue) company.Mr Chudgar is credited for launching an affordable drug to treat breast cancer called Eleftha, which is similar to Roche's Herceptin. The drug was launched in the year 2019.Hasmukh Chudgar And Family, Their Net Worth And MoreChudgars are known for their simplicity and entrepreneurial value. Hasmukh Chudgar founded the group and is currently its executive chairman. The vision of his three sons Binish, Nimish and Urmish has taken Intas to new heights over the last three decades. However, Binish (youngest son) credits his scientists and a pool of professionals with the flexibility to devise their own strategies. Chudgar's third son Urmish heads the company's biopharma business and is a haematologist-oncologist. The company's biggest markets are Europe and India.Today, the net worth of the Hasmukh Chudgar family stands at USD 7.7 billion, according to Forbes. Key Milestones For Intas Pharmaceuticals Intas, which is backed by Singapore's Temasek, operates 15 factories of which 10 are in India and the rest in Europe and Mexico. In 2019 Intas launched an affordable drug to treat breast cancer called Eleftha, which is similar to Roche's Herceptin. In 2022, the Abu Dhabi Investment Authority bought a 3% stake in Intas from Temasek.He is currently a trustee of Intas Welfare Trust which has been set up to help the employees of the company.
Tuesday, May 16, 2023 at 3:48 am