Father-Son Duo Of Rs 500 Cr Pharma Business Succumb To COVID-19

Hyderabad: A prominent father-son duo of a Hyderabad-based business family, worth over Rs 500 crore, have died of COVID-19. They owned one of the oldest medical stores in Himayatnagar and were one of the biggest pharma distributors in the state.

The chairman of the group, who was in his 50s, and his elderly father succumbed to the deadly virus. Two more members of their family are under treatment.

Twenty people worked in their store, some of whom have also tested positive for coronavirus. Their family members had also visited the store recently.

They started their business with just one medicine store with an investment of Rs 1.5 lakh. The business grew into a Rs 500 crore pharma distributing entity over the last 30 years. They distributed products from 300 companies. They have nearly 500 employees in all.

They had established a company dealing in vaccines and speciality drugs in 2006, and in 2014, they set up another firm to make and market their own generic drugs.