Ahmedabad-based drug maker Zydus Lifesciences chairman Pankaj Patel has been honoured with Padma Bhushan, country’s third highest civilian award for his contributions towards trade and industry.

Zydus was founded in the year 1952 by Ramanbhai B. Patel and under the leadership of his son Pankaj Patel the company undertook a restructuring exercise in 1995 that helped the company to leapfrog its ?250 crore annual turnover in 1995 to over ?19,500 crores in FY- 24.

The drug maker is a listed entity in the capital market with a market cap of around ?89,900 crore. Globally, the group has a strong presence in the regulated markets of the US, Europe (France & Spain) and drives a major chunk of its annual revenue from these markets. Besides pharmaceuticals, the company has also expanded its presence across several other healthcare business sectors including medical devices.

Source: ET Pharma

Padma Bhushan is country’s third highest civilian award.