Meet India's third richest pharma billionaire with Rs 63,040 crore net worth, know about his business empire

Hasmukh Chudgar, the founder of generics maker Intas Pharmaceuticals, is a well-known name in the healthcare industry in India. The 89-year-old founded the company in 1977. Now, his two sons Nimish and Binish run the USD 2.3 billion revenue company. This is around Rs 19,080 crore today.

Hasmukh Chudgar's net worth

Chudgar is the third richest pharma billionaire after Cyrus Poonawalla and Dilip Shanghvi, according to Forbes. His real-time net worth is USD 7.6 billion as of August 13, 2023, as per Forbes. Hasmukh is currently on 290th position in the list of the world's richest people. The Chudgar family reportedly owns 83.85% stake in Intas, with 10.13% being held by Temasek Holdings, and 6.02% by ChrysCapital.

Hasmukh holds a bachelor's degree in Pharmacy from Gujarat University.  Intas is backed by Singapore's Temasek and it operates 15 factories including 10 in India, and the rest in Europe and Mexico. Intas is headquartered in Ahmedabad. In 2019, the company launched an affordable drug to treat breast cancer called Eleftha. Chudgar's third son Urmish heads the company's biopharma business. Urmish is a haematologist-oncologist. 

In 2006, an independent biotechnology division of Intas Pharmaceuticals was incorporated as Intas Biopharmaceuticals by Urmish Chudgar. But later in 2012-13, the subsidiary was merged with the parent company Intas Pharmaceuticals Limited.

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