Founder of Hexal AG
He and his twin brother Thomas founded generic drug maker Hexal AG ($1.6 billion sales during 2004) in 1986. It became Germany's second-largest generic drug producer.
In 2005, they sold their generic drugmaker Hexal (plus a stake in Eon Labs) to Novartis for some $7 billion.
The brothers invest in biotech, pharma, life sciences and healthcare companies through their Zug, Switzerland-based investment firm, Santo Holding. Their venture portfolio includes Germany's BioNTech and Uruguay's Mega Pharma, initially a joint venture with Argentine billionaire Alberto Roemmers.
In 2008, they established a neuroscience research center in Frankfurt named after their father, Ernst Strüngmann.