With emergence of seven new billionaire promoters in healthcare & pharmaceutical sector, India now has 17 billionaire promoters, up from 10 last year.
Even as the COVID-19 pandemic struck the world and economies around the globe faltered, the Indian healthcare and pharmaceutical sector saw the emergence of seven new billionaire promoters in 2020, reported Business Standard.
India now has 17 billionaire promoters in the sector, up from 10 last year. Premchand Godha of Ipca Labs, Prathap C Reddy of Apollo Hospitals, Ajanta Pharma's Mannalal Agrawal and Natco Pharma's VC Nannapaneni were some of the new billionaires.
Data on healthcare and pharmaceutical sector billionaires
- The sector saw the emergence of seven new billionaire promoters in India alone in the calendar year 2020 (CY20).
- This is 50% more than all new billionaire promoters created last year.
- The billion-dollar saw the entry of 13 super-rich billionaires and the exit of five owing to fluctuations in market capitalisation of their companies.
- The country now has 17 billionaire promoters in the healthcare and pharma space, up from 10 last year.
- These billionaire promoters cumulatively held Rs 4.35 lakh crore or $60 billion at the end of December 2020.
- The combined wealth of these 17 billionaires surged by 61% or Rs 1.65 lakh crore or $23 billion, against Nifty's rise of 15% in CY20, as compared to the previous year.
- This was owing to the increase in stock prices of drug and pharma companies in the pandemic year.
India's newest billionaires
- Premchand Golcha of IPCA Labs saw swiftest 94% year-over-year growth in his net worth which now stood at Rs 12,805 cr by 2020-end.
- Prathap C Reddy of Apollo Hospitals with a net worth of Rs 10,340 crore joined the billionaire group in 2020.
- Mannalal Agrawal of Ajanta Pharma worth Rs 8,500 crore is also one of the seven new billionaire promoters in 2020.
- VC Nannapaneni of Natco Pharma, whose wealth climbed up 62% to Rs 8,570 crore in 2020.
- Atul’s promoter Sunil S Lalbhai’s wealth at Rs 8,550 crore at December 2020-end, increased by 59% year-over-year (YoY). Lalbhai is now 78th richest promoter among all listed companies in India.
- Divi's Labs' Murali Divi was the biggest gainer of all. His wealth doubled to Rs 53,000 crore by December 2020-end as the shares of his company were among the best performers in the large-cap space last year. He is now 16th richest promoter in India up from 28th last year.
- PVR Reddy and KN Reddy of Aurobindo Pharma with a net worth of Rs 28,000 crore and Shivraj Patel of Cadila Pharma with a net worth of Rs 37,500 crore were other big gainers.
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