Early Life
Thomas Strüngmann was born in Mülheim an der Ruhr, Germany, on February 16, 1950. He earned a degree in Business Administration from the University of Augsburg. In 1979, Thomas and his twin brother Andreas took over their father's pharmaceutical company, Durachemie, gaining valuable industry experience.
Rise to Success
In 1986, Thomas and Andreas co-founded Hexal AG, focusing on producing generic drugs. Under their leadership, Hexal became one of Germany's leading generic drug manufacturers. The brothers sold Hexal and their stake in Eon Labs to Novartis in 2005 for approximately $7.5 billion. Post-Hexal, the Strüngmann brothers established investment firms, including Santo Holding and Athos Service, focusing on biotech and healthcare sectors. In 2008, they were early investors in BioNTech, playing a pivotal role in developing mRNA technology, which led to the successful COVID-19 vaccine.
Key Business Strategies
The Strüngmann brothers focused on strategic investments and building Hexal into a leading generics manufacturer. They expanded Hexal's production and distribution globally, forming partnerships and acquisitions. Their investment in BioNTech was a key strategy, contributing significantly to their wealth. Their investment firm, Athos Service, manages their extensive healthcare fortune.
Philanthropy
Thomas and his brother founded the Ernst Strüngmann Institute in 2008, a neuroscience research center in Frankfurt, demonstrating a commitment to scientific advancement.
