Intas Pharmaceuticals founder Hasmukh Chudgar is one of the veteran billionaires in India. Last year, the 89-year-old entrepreneur was ranked at the 28th spot in the Forbes list of India’s richest. Chudgar and his family have a net worth of $7.6 billion. On the Forbes list of billionaires, Chudgar is at the 290th position. The billionaire has always maintained a low profile and let his work do the talking.
Hasmukh Chudgar founded Intas in 1977. He completed his undergraduate degree in Pharmacy from Gujarat University. The entrepreneur has about 57 years of experience in the pharma sector.
(Also Read: Meet Sagar Gupta, A BCom Graduate-turned-entrepreneur Who Made Rs 600 Crore In 4 Years)
Chudgar divided his business between two of his sons- Nimish and Binish. The company generates $2.3 billion in revenue, as per Forbes. Chudgar’s third son, Urmish is a haematologist-oncologist and heads Intas’ biopharma business.
In 2019, Intas made headlines when it launched an affordable drug for treating breast cancer- Eleftha. The drug is similar in composition to pharma company Roche’s Herceptin, a drug that has long been used in cancer treatments. Eleftha’s launch is estimated to have reduced the cost of breast cancer treatment by 65 percent, as per Forbes.
The same year, Intas Pharmaceuticals filed over 50 lifetime patents.
The Ahmedabad-based company also launched Romy, India’s first Romiplostim drug, which is used to manage chronic immune thrombocytopenia.
Singapore’s state owned conglomerate Temasek Holdings Limited is a backer of Intas. The pharmaceutical company operates 15 factories, with 10 units in India and the rest in Mexico and Europe. The firm’s biggest markets are India and Europe.
Intas Pharmaceuticals is present in over 85 countries with a robust marketing, sales and distribution network in Europe, Asia Pacific, Middle East and North Africa (MENA) and Central and Latin America.
Last year, the Abu Dhabi Investment Authority bought a 3 percent stake from Temasek in Intas Pharmaceuticals.
Intas is also interested in CSR ventures and has also established a school for hearing-impaired children in Ahmedabad.
Though Hasmukh Chudgar and his family have made Intas one of India’s biggest pharmaceutical companies, they prefer to live a low-profile life. Chudgar has managed to create his own empire with his hard work and dedication. His story is an inspiration to all budding entrepreneurs.
Comments
0 comment