![]() |
Andreas StrungmannBillionaire entrepreneur, founder of the large company Hexal AG
Country:
![]() |
Content:
- Andreas Strüngmann: From Medical Degrees to Pharmaceutical Empire
- Founding of Hexal AG
- International Growth and Expansion
- Breakthroughs in Research and Funding
- Sale to Novartis
- Legacy and Impact
Andreas Strüngmann: From Medical Degrees to Pharmaceutical Empire
Early Life and EducationAndreas Strüngmann was born with a twin brother, Thomas, into a medical family. His pursuit of medicine led him to earn a degree in science and medicine. After graduating, Andreas founded Hexal AG in 1986 with his brother.
Founding of Hexal AG
Hexal AG began its journey with five medical products and a team of 22. Within a few years, the brothers expanded their operations, establishing new laboratories and relocating to Holzkirchen with 60 employees. By 1990, Hexal had launched its production line and expanded internationally with a branch in South Africa.
International Growth and Expansion
The 1990s marked a period of significant growth for Hexal AG. The company acquired a German pharmaceutical division and built a state-of-the-art manufacturing facility near Magdeburg. The facility, operational by 1996, became one of Europe's leading pharmaceutical plants.
Breakthroughs in Research and Funding
To foster innovation, Hexal Biotech and Hexal Gentech funds were established in 1998 to support pharmacological research. Through strategic acquisitions and rebranding, Hexal continued to solidify its position in the pharmaceutical industry. By 2003, Hexal's revenue exceeded €1 billion, with 6,000 employees in over 40 countries.
Sale to Novartis
In 2005, Hexal AG and 68% of U.S. Eon Labs were sold to Novartis for $7.5 billion. Andreas and Thomas joined Novartis as executives of its Sandoz subsidiary.
Legacy and Impact
Hexal AG's generic pharmaceuticals, known for their affordability and high quality, became widely used in the treatment of cardiovascular, gastrointestinal, and other diseases. Through their highly effective and safe drugs, Andreas Strüngmann and his brother made a lasting contribution to healthcare.