Meet 52 richest Indians in Pharma Healthcare domain

Poonawalla (81) has moved to the third rank in the IIFL Wealth Hurun India Rich List 2022 after his wealth increased by 25% or Rs 41,700 crore in the last year. His privately held company is the world's biggest vaccine maker and has recently developed the country's first cervical cancer shot that will hit the market soon. Apart from COVID shots, the SII's Indian plants make vaccines for diphtheria, BCG, measles, rubella and other conditions. He is also considering setting up its first manufacturing plant in Africa as he looks to expand globally.

Ranking second on the list among pharma and health sector is pharma tycoon Dilip Shanghvi with 12 percent change in wealth to Rs 1,33,500 crore. Shanghvi (66), who is the founder and head of India's largest drug maker Sun Pharmaceutical Industries, moved up two ranks to the ninth rank with his wealth increasing by 12% to Rs 1,33,500 crore. In the last five years, his wealth has moved up by 50% or Rs 43,800 crore as the pharma major expanded its global operations.

Meanwhile, 'Biotech Queen' Kiran Mazumdar Shaw has been overthrown by founder of Nykaa, Falguni Nayar and her rank slipped to 67th position with wealth of Rs 24,800 crore.

The pharma sector contributed the highest to the list with 126 entries and India is now an acknowledged supplier of generic drugs to the world. There are 8 new additions to the list while 12 lost the status to be featured in the list. The pharma industry has also greatly benefited from the pandemic-induced need for vaccines and increased focus on drugs. Four from the pharmaceutical sector lost their dollar billionaire status. There are 56 individuals in the list deriving their wealth from listed pharma companies, of which 79% saw their wealth declining cumulatively by Rs 93,400 crore.

IIFL Wealth Hurun India Rich List 2022 – Insights from the Pharma and Health Sector

Commenting on the launch, Yatin Shah, Co-Founder & Joint CEO, IIFL Wealth, said, "IIFL Wealth Hurun India Rich List 2022, is a comprehensive overview of a plethora of factors that have significantly contributed to the rising wealth of India and we are proud to associate with the same. Despite the slump in the economy owing to geo-political challenges, volatility in global financial markets, and sharp spike in oil prices, India has successfully made an impression on the world's economy/wealth map. Pharmaceuticals, chemical & petrochemicals, IT, and financial services amongst others are some of the key sectors substantially contributing to wealth creation. It is exhilarating to see the entrepreneurial ecosystem of India contribute a significant amount to this list with the rising number of women entrepreneurs and uptick in self-made entrepreneurs. There are 65 founders of 37 unicorns along with 14 professional managers who have emerged as the cornerstone of wealth creation this time in the list."

Commenting on the launch, Anas Rahman Junaid, MD and Chief Researcher, Hurun India, said, "Post-pandemic, some of the COVID winners such as generic pharma, diagnostics, and Software & Services faced headwinds. While pharma and diagnostics dropped mainly on account of subdued demand post COVID, Software & Services industry has taken a beating due to fears of a recession in the developed markets that house most of the outsourcing clients."