P.V. Ramprasad Reddy
REAL TIME NET WORTH — as of 5/1/17
$2.5 B
P.V.Ramprasad Reddy chairs generics maker Aurobindo Pharma, which he co-founded in 1986. The company gets 85% of its $2.1 billion revenue from international markets. Last year, Aurobindo’s shares fell after a U. S. FDA inspection resulted in adverse observations about one of its factories that makes antiretroviral drugs. The company responded to the FDA’s concerns and subsequently got an approval from the American regulator. Aurobindo recently expanded its European footprint with the $144 million acquisition of Portugal’s pharma producer Generis Farmaceutica.
P.V. Ramprasad Reddy net worth: P.V. Ramprasad Reddy is an Indian businessman and entrepreneur who has a net worth of $2.3 billion. P.V. Ramprasad Reddy co-founded the generic company Aurobindo Pharma in 1986 with his brother-in-law. Shares of the company more than doubled in 2014 after the U.S. FDA lifted an import ban which was imposed in 2011. The company has its sights set on becoming one of the Top 10 generic players in Europe by 2016. It took over operations of Irish company Actavis in 2014 and Aurobindo’s US operations bought Natrol which makes nutritional supplements for $132 million. P.V. Ramprasad Reddy is married with two children and lives in Hyderabad, India.
Source:
1. forbes