new Delhi. After the report on Pfizer Inc.’s Kovid 19, there has been a rise in the wealth of many investors due to the boom in the stock market. At the same time, the wealth of German brothers has increased dramatically, it has not increased to anyone else. Here is the talk of Andreas and Thomas Strungmann, the stake holders of German firm Bioentech SE. Joe is teaming up with Pfizer on the Corona vaccine. The wealth of both brothers has increased by $ 8 billion in recent times.
The twin brothers own the world’s largest health care company with $ 22 billion according to foreign media reports. Both brothers have expanded their empire by increasing the income of their family’s generic drugs business.
Such increased business
According to Paul Vestall, founder of family office recruitment firm Agris Group, he has re-shaped his wealth by relying on science. The brothers established their family office, Ethos Service. In 2005, it announced Novartis AG, which was going to buy drug maker Hexal, which was followed by EON Labs. The combined deal was worth about $ 6.7 billion.
Company CEO’s assets also increase
His bet on bioentech reflects his ambition for funding transformational drugs. He helped the firm to 150 million euros in 2008 and now owns half of the company. Joining the 500 richest people in the world, BioNtech CEO Yugur Sahin Kay has grown to more than $ 4 billion in assets.
Bioentech is the world’s fourth largest company
After taking over the family-owned pharmaceutical company Durechemy from his father Ernst in 1979, the brothers sold it seven years later and used the proceeds to set up Hexal. He started in an apartment building near Munich with about two dozen employees and developed it into the world’s fourth-largest generic-drug company. Thomas, who has a doctorate in business management, said in a 2004 interview that our strength is speed and flexibility. While the big giant elephants are making their decisions, we have already taken action.