Thomas Strüngmann

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Thomas Strüngmann (born 1950) founded generic drug maker Hexal AG ($1.6 billion sales during 2004) in 1986. In February he and his brother Andreas sold Hexal and their 67.7% of U.S. Eon Labs to Novartis for $7.5 billion.

Generic drug pharmaceutical drug that is equivalent to a brand-name product in dosage, strength, route of administration, quality, performance, and intended use

A generic drug is a pharmaceutical drug that has the same chemical substance as the drug that was originally developed, patented and innovated. Generic drugs are allowed for sale after the expiry of the patent of the original drugs. Because the active chemical substance is the same, the medical profile of generics is believed to be equivalent in performance. The generic drug has the same active pharmaceutical ingredient (API) as the original, but it may differ in characteristics such as manufacturing process, formulation, excipients, color, taste, and packaging.

Andreas Strüngmann was born in Germany and founded generic drug maker Hexal AG in 1986. It became Germany's second-largest generic drug producer. In February 2005, he and his brother Thomas sold Hexal and their 67.7% of U.S. Eon Labs to Novartis for $7.5 billion, making Sandoz the largest generic-drug company in the world.

Novartis Swiss multinational pharmaceutical company

Novartis International AG is a Swiss multinational pharmaceutical company based in Basel, Switzerland. It is one of the largest pharmaceutical companies by both market capitalization and sales.

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