Andreas Strüngmann (born 1950) is a German physician and billionaire businessman who founded

generic drug A generic drug is a pharmaceutical drug that contains the same chemical substance as a drug that was originally protected by chemical patents. Generic drugs are allowed for sale after the patents on the original drugs expire. Because the active ch ...

maker Hexal AG ($1.6 billion sales during 2004) in 1986 and has built his fortunes, with his life-long partner and identical twin, Thomas Strüngmann, mainly through the investment into the

biotechnology Biotechnology is a multidisciplinary field that involves the integration of natural sciences and Engineering Science, engineering sciences in order to achieve the application of organisms and parts thereof for products and services. Specialists ...

and

pharmaceutical Medication (also called medicament, medicine, pharmaceutical drug, medicinal product, medicinal drug or simply drug) is a drug used to diagnose, cure, treat, or prevent disease. Drug therapy ( pharmacotherapy) is an important part of the ...

industries. Andreas manages, together with his brother, their total family assets, estimated to be roughly $30 billion, through their single

family office A family office is a privately held company that handles investment management and wealth management for a wealthy family, generally one with at least $50–100 million in investable assets, with the goal being to effectively grow and transfer ...

Career

In 2004, Strüngmann and his twin brother

Thomas Thomas may refer to: People * List of people with given name Thomas * Thomas (name) * Thomas (surname) * Saint Thomas (disambiguation) * Thomas Aquinas (1225–1274) Italian Dominican friar, philosopher, and Doctor of the Church * Thomas the A ...

– through their Santo Holding – acquired a share of 89.6 percent in Südwestbank from

DZ Bank DZ Bank AG () is the second largest bank in Germany by asset size and the central institution for around 700 cooperative banks and their around 7,200 branch offices. Within that Bundesverband der Deutschen Volksbanken und Raiffeisenbanken, w ...

. In 2017, they sold the bank for an undisclosed price to

BAWAG BAWAG (Abbreviation of , , ) was a bank in Austria founded in 1922. On October 1, 2005, it merged with the separate ''Österreichische Postsparkasse'' (P.S.K.) to form the "Bank für Arbeit und Wirtschaft und Österreichische Postsparkasse AG", s ...

. In February 2005, the Strüngmann brothers sold Hexal and their 67.7 percent of U.S. Eon Labs to

Novartis Novartis AG is a Swiss multinational corporation, multinational pharmaceutical company, pharmaceutical corporation based in Basel, Switzerland. Novartis is one of the largest pharmaceutical companies in the world and was the eighth largest by re ...

for $7.5 billion, making its subsidiary

Sandoz Sandoz Group AG is a Swiss company that focuses on generic pharmaceuticals and biosimilars. Prior to October 2023, it was part of a division of Novartis that was established in 2003, when Novartis united all of its generics businesses under the ...

the largest generic-drug company in the world. At age 56, he subsequently accepted an executive position at Sandoz, working as head of regional operations in Europe, Africa and Asia-Pacific. In 2008, the Strüngmann brothers – through their asset management firm Athos – agreed to underwrite 25 percent of a capital increase at Conergy. Also in 2008, the Strüngmann brothers supported

BioNTech BioNTech SE ( ; or short for Biopharmaceutical New Technologies) is a German multinational biotechnology company headquartered in Mainz that develops immunotherapies and vaccines, particularly for cancer and infectious diseases. The compan ...

with a €136.5 million seed investment in a €150 million round that enabled the founding of the company. In 2023, they owned 43.5 percent of BioNTech through an investment vehicle called AT Impf, making their stake worth around $14 billion. In 2014, the Strüngmann brothers' Santo Holding and

EQT AB EQT AB is a Swedish global investment organization founded in 1994. Its funds invest in private equity (EQT Private Capital Europe & North America), infrastructure (EQT Infrastructure), real estate (EQT Real Estate), growth equity, and ventur ...

purchased Siemens Audiology Solutions from

Siemens Siemens AG ( ) is a German multinational technology conglomerate. It is focused on industrial automation, building automation, rail transport and health technology. Siemens is the largest engineering company in Europe, and holds the positi ...

for €2.2 billion, leading the latter to abandon plans for an

initial public offering An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investm ...

.Christopher Hughes and Olaf Storbeck (25 November 2014)
SIG Deal Shows Private Equity’s Desire for Big Leveraged Buyouts in Europe
''

New York Times ''The New York Times'' (''NYT'') is an American daily newspaper based in New York City. ''The New York Times'' covers domestic, national, and international news, and publishes opinion pieces, investigative reports, and reviews. As one of ...

''.

Personal life

Strüngmann currently has residences in

Tegernsee Tegernsee () is a Town#Germany, town in the Miesbach (district), Miesbach district of Bavaria, Germany. It is located on the banks of Tegernsee (lake), Lake Tegernsee, which is 747 m (2,451 ft) AMSL, above sea level. A spa town, it is su ...

and

South Africa South Africa, officially the Republic of South Africa (RSA), is the Southern Africa, southernmost country in Africa. Its Provinces of South Africa, nine provinces are bounded to the south by of coastline that stretches along the Atlantic O ...

and is married with two children. In 2007, he and his wife established the Andreas and Susan Struengmann Foundation to support educational initiatives in the

Western Cape The Western Cape ( ; , ) is a provinces of South Africa, province of South Africa, situated on the south-western coast of the country. It is the List of South African provinces by area, fourth largest of the nine provinces with an area of , an ...

References

External links

Forbes World's Richest People
{{DEFAULTSORT:Strungmann, Andreas Strungmann, Andreas Strungmann, Andreas German billionaires 20th-century German businesspeople 21st-century German businesspeople

Career

Personal life

See also

References

External links