Yusuf Hamied

Non-Executive Chairman, Cipla Limited

Birth DetailsJuly 25, 1936 | Vilnius, Lithuania

NationalityIndian

LeagueBusiness Leader

EducationDoctorate, Cambridge

Net Worth$2.2 billion (As of May 31, 2021)

Yusuf Hamied's Assets:

Cipla Ltd

Yusuf Hamied's Journey so far ...

Yusuf Hamied was brought up in Mumbai and attended the Cathedral and John Connon School and Saint Xavier's College. At the age of 18, he joined Cambridge and went on to obtain a PhD in chemistry in 1960 under the guidance of Alexander Todd who is a Nobel laureate
After his doctorate, Hamied joined Cipla, a pharmaceutical company founded by his father Dr Khwaja Abdul Hamied in 1935
He was made to work like any other employee, and in the initial years, he got Cipla to make API (active pharmaceutical ingredient) which made it the first Indian pharmaceutical company to be self-sufficient in end-to-end drug manufacturing
By the late sixties, he pioneered the development of over 30 bulk drug formulations. In 1972, he and his brother Mustafa inherited the business after the death of Hamied Sr. He was appointed as Managing Director of Cipla in 1976 and became the Chairman in 1989
In 1985, under his guidance, Cipla became the first Indian pharma company to get approval from the US Food and Drug Administration (FDA) to set up a factory
The Cipla patriarch has been instrumental in the development of multi-drug combination pills for tuberculosis, asthma and other ailments affecting developing countries
He guided the Mumbai-based drug maker in the development of paediatric formulations, particularly for children from a poor background
Hamied has been at the forefront of the fight against HIV/AIDS and became a global celebrity in 2001 when Cipla offered the world's first affordable AIDS medicine at the unprecedented cost of less than a dollar a day
Dr Hamied’s exemplary achievement came as a blessing for those living with the disease in Africa and forced other top multinational pharma companies to massively reduce the prices of their antiretroviral drugs
Similarly in 2012, much to the shock of other companies, he slashed the price of crucial cancer drugs by as much as 75%
The eight-decade-old pharma giant today has a presence in over 150 countries and sells over 1500 products across various therapeutic categories
During the Covid-19 pandemic, under his guidance, Cipla launched drugs to treat patients suffering from the disease, one of them being a generic version of Remdesivir for which the company tied up with Gilead Sciences
After spending 52 years in building the company, Hamied hung up his boots as Cipla Managing Director in March 2013 and is currently the non-executive Chairman

Before you go ...

Hamied's competitors labelled him as a thief for making and selling copies of their drugs, but for millions of patients in developing countries, he has been their Robin Hood
In 2005, he was the recipient of the Padma Bhushan, one of the highest civilian awards in India, for his contribution to healthcare
He got his first salary only after completing a year even though he was the son of the founder

Last Updated: 31/05/2021

Yusuf Hamied News

Cipla's vice-chairman MK Hamied resigns citing age and health, his son Kamil to join the board
Cipla's vice-chairman MK Hamied has resigned from the board due to age and health concerns, effective October 29, 2024. His son Kamil Hamied will join as a non-executive director from November 1, 2024. Cipla also appointed Adil Zainulbhai and Abhijit Joshi as additional directors starting September 3, 2024.
Cipla's impending 'takeover' by Blackstone should sadden all of us, says Jairam Ramesh
Senior Congress leader Jairam Ramesh expressed his sadness over the potential acquisition of Cipla, India's oldest pharmaceutical company, by the world's largest private equity fund, Blackstone. Ramesh stated that the company is an essential part of India's political, economic, and social history, pointing out that Cipla is a shining example of Indian nationalism.
ET Businesswoman of the Year 2021: Samina Hamied - The woman who carries forward a storied legacy, seeking profit, but never at the cost of values
“I am humbled and honoured to receive the ET’s Businesswoman of the Year Award. This recognition belongs to each and every one of our 25,000 employees who stand with Cipla, putting patients’ interests before their own and upholding our purpose of Caring for Life,” Hamied, executive vice-chairperson, Cipla, told ET.
YK Hamied to increase stake in Cipla to over 20 per cent
Cipla patriarch YK Hamied plans to increase his holding to over 20 per cent by acquiring over 5 per cent additional stake in the homegrown drug major.
Cipla creates management council to drive transformation
India's third largest drug maker Cipla has created a five member management council, led by CEO Subhanu Saxena as part of its transformation process.
Cipla reshuffles its senior management team again
India’s third-largest drug maker Cipla has reshuffled its senior management team, the third time it’s doing so in as many years.
Indian scientist Yusuf Hamied appointed to high-level panel on health
An eminent Indian scientist has been named by UN chief Ban Ki-moon to a high-level panel on health technology innovation and access.
I'm ashamed: Zubin Mehta on the growing bigotry in India
Lending his voice to the rising chorus against intolerance in India, music maestro Zubin Mehta reveals why he is appalled.
Cipla not keen on major M&As to expand footprint: CEO Subhanu Saxena
Cipla has said it is not "compelled" to go in for major M&As, preferring instead a semi-inorganic route to expand its global footprint.
Samina Vaziralli to take Cipla legacy forward; company aspires to reach 100 million consumers
A week ago when Cipla announced the induction of Samina Vaziralli into the company’s board, it dispelled market rumours.
Cipla promoters to decide on family pact in 'due course'
All promoters put together hold 36.8 per cent stake in Cipla, while Yusuf Hamied individually owns 15.55 per cent. His sister Sophie holds over 5 per cent stake.
Kiss the doctor
The ET Awards 2014 lifetime awardee and Cipla chairman Dr Yusuf Hamied was the hero of the night, but a pretty irreverent one.
Cipla chief Yusuf K Hamied grooms niece & nephew Samina Vaziralli & Kamil Hamied as genext leaders
Even as Hamied prepares genext leaders for Cipla, it’s humanitarian face is out to shake up industry by delivering affordable biosimilar drugs.
ET Awards 2014: Cipla's Yusuf Hamied, who made medicines affordable, gets Lifetime Achievement trophy
It is still too early to predict whether the prices of cancer drugs will come crashing down, but Hamied has set the ball rolling.
Stop step-motherly treatment of pharma sector in India: Cipla
Cipla Chairman Yusuf Hamied expressed hope that the new government would also take strong action over the issue of monopolies in the healthcare sector.
Cipla bats for 'essential' medicines being made available to people at affordable rates
Drug maker Cipla has said that "essential" medicines be made available to people at affordable rates and should not be sold under "monopoly".
Cipla’s Yusuf Hamied & KKR’s Sanjay Nayar buy apartments worth Rs 28.5 cr in Breach Candy
These are sea-facing, three-bedroom apartments in Breach Candy’s Sea Face Park in South Mumbai and these are the 2nd most expensive apartment deals across India.
Cipla Chairman Yusuf Hamied donates Rs 8 crore for chemistry education
Hamied has donated Rs eight crore to it to support an innovative chemistry education programme in India for less advantaged school students.
Cipla chief calls for 'obligatory' drugs licenses
Cipla has asked the Indian government to push for "obligatory licensing" of drugs to improve access to essential medicines in the Third World.
India's billionaire wealth much above country's fiscal deficit
As per the annual list of world's billionaires, published by business magazine Forbes, India has 55 billionaires with a total networth of $189.1 billion.
Cipla completes the Medpro deal, buys 100% stake in the South African company
The total consideration payable by Cipla is approximately $ 512 million or ZAR 4.5 billion.
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