Meet India’s oldest billionaire, owner of Alkem Labs, who proudly owns a luxurious multi-crore Rolls Royce Cullinan.
India’s oldest billionaire, Samprada Singh, has become the proud owner of a brand-new Rolls-Royce Cullinan. At 93 years old, Singh is not only the oldest man in India to own this luxury vehicle, but he is also the billionaire owner of Alkem Labs, a leading pharmaceutical company in the country.
The Rolls-Royce Cullinan is a highly sought-after luxury SUV that is priced around Rs 6.95 crore in India, making it one of the most expensive cars available in the market. This luxury vehicle is known for its exceptional performance, luxurious features, and sleek design.
Singh’s new acquisition is a testament to his success and wealth, which he has accumulated over the years through his pharmaceutical business. As the owner of Alkem Labs, Singh has built a business empire that has made him one of the richest men in India.
Alkem Labs is a well-established company that specializes in the development, manufacture, and marketing of pharmaceutical products. The company has a strong presence in India and exports its products to several countries around the world. Under Singh’s leadership, Alkem Labs has experienced significant growth and has become one of the leading pharmaceutical companies in India.
Singh’s achievement is not only a reflection of his business acumen but also his passion for luxury and high-end products. The acquisition of the Rolls-Royce Cullinan is a statement of his success and his ability to indulge in the finer things in life.
The video showcasing Singh’s new car has gone viral on social media, with many people congratulating him on his new acquisition. netizens are praising Singh’s enthusiasm and passion for luxury cars, even at the age of 93.
Overall, Samprada Singh’s acquisition of the Rolls-Royce Cullinan is a testament to his success, wealth, and passion for luxury. As the oldest billionaire in India, Singh continues to inspire and motivate people with his achievements and his love for the finer things in life. His story serves as a reminder that age is just a number, and with hard work and determination, anything is possible.
It will be interesting to see how Singh enjoys his new luxury vehicle and how he continues to build his business empire in the years to come. As a role model for many, Singh’s achievements are a source of inspiration, and his love for luxury cars is a reflection of his success and prosperity.
Get to know the sibling duo born on the same day, who are the masterminds behind one of India’s largest pharmaceutical companies, valued at a staggering Rs 97,572 crore.
Mankind Pharma, a leading pharmaceutical company in India, was founded by brothers Ramesh and Rajeev Juneja in 1995 with a modest capital of Rs 50 lakh and just 20 employees. Today, the company is the fourth-largest pharmaceutical company in India, with a market capitalization of Rs 97,572 crore. The Juneja brothers, who hail from Meerut in Uttar Pradesh, have come a long way from their humble beginnings. Ramesh, the chairman and whole-time director, started out as a medical representative, while Rajeev, the vice chairman and managing director, worked in a chemist’s shop.
Despite their simple starts, the brothers had big dreams and a vision to make a mark in the pharmaceutical industry. They launched their operations in just two states in the first year, but over time, their business expanded massively across India and internationally. The company is known for its popular brands such as Manforce condoms, Gas-O-Fast antacid, and the multivitamin HealthOK, all of which were named by Ramesh Juneja.
In April 2023, Mankind Pharma launched its initial public offering (IPO), which attracted significant attention from investors and the public. Two major private equity firms, Capital International and ChrysCapital, have invested in the company, demonstrating their confidence in its potential. The Juneja brothers’ success has also been recognized by Forbes, which estimates Ramesh’s net worth at Rs 27,472 crore and Rajeev’s at Rs 26,613.5 crore.
The journey of Mankind Pharma and the Juneja brothers is an inspiring tale of entrepreneurship and perseverance. From a small business in Meerut to becoming industry giants, their story is a testament to the power of vision, hard work, and innovative thinking. Today, Mankind Pharma is a household name in India, and its products are trusted by millions of people. The company’s success has also created employment opportunities and contributed to the growth of the Indian economy. As Mankind Pharma continues to expand and innovate, its founders remain committed to their mission of providing quality healthcare products to people across the country.
Pfizer acquires international rights, excluding China, for 3SBio’s innovative cancer treatment SSGJ-707, a dual-target therapy.
Pfizer has recently secured the global rights outside of China for 3SBio’s dual-target cancer therapy, SSGJ-707. This deal marks a significant collaboration between the two companies, with Pfizer gaining exclusive rights to develop, manufacture, and commercialize SSGJ-707 worldwide, excluding China. 3SBio, a Chinese biotechnology company, will retain the rights to the therapy in China.
SSGJ-707 is a novel, dual-targeting monoclonal antibody that is designed to treat various types of cancer. The therapy targets two key pathways involved in cancer cell growth and survival, making it a promising treatment option for patients with limited therapeutic choices. Preclinical studies have demonstrated the potential of SSGJ-707 in treating a range of cancers, including solid tumors and hematological malignancies.
Under the terms of the agreement, Pfizer will be responsible for the global development and commercialization of SSGJ-707 outside of China. The company will leverage its extensive resources and expertise to advance the therapy through clinical trials and regulatory approvals. 3SBio will receive an upfront payment and is eligible to receive milestones and royalties based on the therapy’s performance.
The collaboration between Pfizer and 3SBio highlights the growing trend of partnerships between global pharmaceutical companies and Chinese biotechnology firms. This deal demonstrates the increasing recognition of China’s innovative biotechnology sector and the potential for Chinese companies to develop novel therapies that can address unmet medical needs globally.
The partnership also underscores Pfizer’s commitment to expanding its oncology portfolio and addressing the growing need for innovative cancer therapies. With a strong presence in the global oncology market, Pfizer is well-positioned to accelerate the development and commercialization of SSGJ-707.
The agreement has the potential to bring significant benefits to patients worldwide, particularly those with limited treatment options. The dual-targeting mechanism of SSGJ-707 offers a promising approach to cancer treatment, and the collaboration between Pfizer and 3SBio will help to accelerate the therapy’s development and make it more widely available. As the therapy advances through clinical trials, patients and healthcare professionals will be eagerly awaiting the results, hoping that SSGJ-707 will become a valuable addition to the arsenal of cancer treatments.
Manipal and Fortis are engaging in discussions to secure Rs 5,000 crore for a potential acquisition of Sahyadri Hospitals.
The bidding process for Sahyadri Hospitals, a multispecialty hospital chain, is nearing its deadline of June 22. Interested bidders, including Manipal Health Enterprises and Fortis Healthcare, are in talks with foreign lenders to secure financing of up to Rs 5,000 crore to support their bids. The hospital chain, which operates 11 hospitals with 1,300 beds across Maharashtra, is being sold by Ontario Teachers’ Pension Plan (OTPP), which acquired a 98.9% stake in the company less than three years ago.
Manipal and Fortis are engaging with global banks such as DBS Group Holdings, Deutsche Bank AG, Mizuho Bank, HSBC Holdings, and Barclays to raise the necessary funds. Another potential bidder, Aster DM Healthcare, has yet to finalize its financing discussions. The acquisition of Sahyadri Hospitals is expected to be a significant deal in the Indian hospital sector, which has seen consolidation in recent times.
OTPP, which has over $3 billion invested in India, hired Jefferies to run the sale process earlier this year. The Canadian pension fund had acquired Sahyadri Hospitals from Everstone Capital at a valuation of Rs 2,500 crore. The hospital chain has a strong presence in Maharashtra, with facilities covering specialties such as cardiology, transplants, neurology, and critical care.
The bidding for Sahyadri Hospitals comes amid a surge in interest in the Indian hospital sector, driven by factors such as the Covid-19 pandemic, rising demand for healthcare services, and increasing investment from private equity firms. According to a report by BNP Paribas India, the Indian hospital segment has seen a significant increase in primary market transactions, with six hospitals concluding their initial public offerings (IPOs) in recent times.
The acquisition of Sahyadri Hospitals is expected to be a strategic move for the successful bidder, allowing it to expand its presence in the Indian healthcare market. The deal is also expected to be a significant transaction in the Indian hospital sector, which has seen consolidation in recent times, including the merger of Quality Care India with Aster DM to form India’s third-largest hospital chain. Overall, the bidding process for Sahyadri Hospitals is expected to be a closely watched event in the Indian healthcare industry.
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