Twin brothers Thomas and Andreas Struengmann made a fortune selling their generic drug business back in 2005. Now they plan to invest a good bit of their money in Germany's biotech industry. In an interview with a German magazine, manager magazin, the Struengmanns outlined plans to invest 500 million euros in the country's biotech businesses. And they made it clear that they favor strong, family-owned companies to invest in. The twins already own stakes in 10 German biotechs that concentrate on new cancer therapies.
"We want to create something new, as we did with Hexal," says Thomas Struengmann.
--read the AFX report