Nimmagadda Prasad
Encyclopedia
Nimmagadda Prasad, is an Indian serial entrepreneur, the founder and Vice Chairman of Matrix Laboratories, Chairman of MAA TV
and VANPIC. Mr. Prasad is often addressed as "Matrix Prasad" or "MAA Prasad" in the social circles.
, followed by a part-time post graduate diploma in management from Institute of Management Technology
, Ghaziabad.
Mr. Prasad's father Nimmagadda Saradhi retired from the Indian Army as Honorary Captain and now he is the Chairman of Nimmagadda Trust and a trustee of Nimmagadda Foundation
, he also serves as the President of Defense Housing Cooperative Society.
Mr. Prasad’s took the entrepreneurial plunge in 2000 when he began inching his way into the big Indian drugs league acquiring the sick pharma company Herren Drugs and Pharmaceuticals and renamed it Matrix Laboratories.
In 2006, Matrix Laboratories aligned with Mylan Laboratories, USA, the world’s 3rd largest Generic Pharmaceutical Company at present. Mr. Prasad, during the largest transaction of his life, sold off his stake in Matrix Labs retaining 5% he gained by about Rs. 570 crore after Mylan Laboratories of the U.S. announced that it is picking up 71.5% stake in Matrix laboratories. He further made investments diversifying into several growth sectors and made strategic investments in cement, power, healthcare (hospitals), media, infrastructure development and hospitality businesses.
and Prakasam districts of Andhra Pradesh
into major industrial hubs. Identifying potential growth opportunities.
. He is serving as a Board Member of CARE Hospitals, Asian Institute of Gastroenterology, Sakshi Newspaper & TV Network, Bharati Cements (formerly Raghuram Cements) Mr. Prasad is on the Executive Board of the Indian School of Business
(ISB), Hyderabad, besides his association with several academic, research and business organizations. Mr. Prasad believes in the power of collective wisdom and participative management approach. He is a strong proponent that wealth and knowledge are enhanced only when they are shared.
, a social service initiative of Mr. Prasad, is supporting various institutions that work for providing healthcare and education in rural areas. The Foundation partnered with LV Prasad Eye Institute (LVPEI), Hyderabad, for eradication of blindness in children in the State of Andhra Pradesh by 2020. The foundation in collaboration with CARE Hospitals, Hyderabad, extends financial support to conduct life- saving congenital heart surgeries/interventions among children belonging to BPL families.
In 2010, he joined the advisory board of U.S. nonprofit TeachAIDS
.
state has bestowed Matrix Laboratories with the “Best Management Award” in the year 2006. With a ‘Social Perspective’ to the business enterprise, Mr. Prasad launched “Project Hope” in 2003 at Matrix Laboratories to develop cost efficient processes to reduce the prices of HIV/AIDS drugs significantly and achieved major breakthroughs in this regard. On the back of the success, Matrix signed a historic agreement with the Clinton HIV/AIDS Initiative (CHAI). Matrix currently provides medication to about 35% of HIV/AIDS patients in the developing world at a very affordable price.
MAA TV
Maa TV is a Telugu-language television channel based in Hyderabad, India.MAA TV was founded by PENMETSA MURALI KRISHNAM RAJU.It is one of the leading Telugu-language TV channels in Andhra Pradesh, India....
and VANPIC. Mr. Prasad is often addressed as "Matrix Prasad" or "MAA Prasad" in the social circles.
Education and Family
Mr. Prasad obtained his B.Sc. degree from Babu Jagjivanram College and then his M.Sc from the University of DelhiUniversity of Delhi
The University of Delhi is a central university situated in Delhi, India and is funded by Government of India. Established in 1922, it offers courses at the undergraduate and post-graduate level. Vice-President of India Mohammad Hamid Ansari is the Chancellor of the university...
, followed by a part-time post graduate diploma in management from Institute of Management Technology
Institute of Management Technology
-History:IMT was established in 1980 by eminent industrialist Shri Mahendra Nath with Dr. C. B. Gupta.-Courses:IMT offers following programmes:* Two-year Post Graduate Diploma in Management...
, Ghaziabad.
Mr. Prasad's father Nimmagadda Saradhi retired from the Indian Army as Honorary Captain and now he is the Chairman of Nimmagadda Trust and a trustee of Nimmagadda Foundation
Nimmagadda Foundation
Nimmagadda Foundation is a philanthropic initiative of Mr. Nimmagadda Prasad, the Chairman of VANPIC Group. With major contributions by Prasad, in his personal capacity, Nimmagadda Foundation was set up to work in areas like healthcare, education, life skills improvement and community development...
, he also serves as the President of Defense Housing Cooperative Society.
Career
Mr. Prasad started his career as a management trainee in Indian Molasses Company in Delhi (an associate of United Molasses Company, UK) in 1984 and was promoted to salesman at Rhone Poulenc Chemicals and then to Vorin Laboratories as general manager of marketing in 1993, from his continuous efforts was elevated to managing director in 1995. When Indian pharma market leader Ranbaxy Ltd acquired Vorin, Prasad was re-designated senior managing director and chief executive officer.Mr. Prasad’s took the entrepreneurial plunge in 2000 when he began inching his way into the big Indian drugs league acquiring the sick pharma company Herren Drugs and Pharmaceuticals and renamed it Matrix Laboratories.
Matrix Laboratories
Mr. Prasad acquired Medicorp Technologies in May 2003, Vorin Labs in September 2003, Vera Laboratories, Fine Drugs & Chemicals the same year 2004 and a controlling stake in Concord Biotech in 2006. Staying focused on the domestic pharma space, Mr. Prasad — set his eyes on the global pharma-scape by acquiring Belgium-based Docpharma in June 2005, a controlling stake in China’s McChem Group. He also floated a JV South Africa’s Aspen Pharmacare in September 2005, and picked 43% stake in Switzerland’s Explora Laboratories SA the same year.In 2006, Matrix Laboratories aligned with Mylan Laboratories, USA, the world’s 3rd largest Generic Pharmaceutical Company at present. Mr. Prasad, during the largest transaction of his life, sold off his stake in Matrix Labs retaining 5% he gained by about Rs. 570 crore after Mylan Laboratories of the U.S. announced that it is picking up 71.5% stake in Matrix laboratories. He further made investments diversifying into several growth sectors and made strategic investments in cement, power, healthcare (hospitals), media, infrastructure development and hospitality businesses.
VANPIC
In 2008, Mr. Prasad initiated a mega infrastructure project under the umbrella of VANPIC for the development of a world class port-based integrated industrial corridor in the coastal region of Andhra Pradesh. The mega venture is expected to play a catalyst role in the transformation of the hitherto agri-based GunturGuntur
Guntur , is a city and a municipal corporation in the Indian state of Andhra Pradesh, located to the north and west of the Bay of Bengal. It is approximately to the south of the national capital, New Delhi and south east of state capital, Hyderabad. Guntur is the fourth largest city in Andhra...
and Prakasam districts of Andhra Pradesh
Andhra Pradesh
Andhra Pradesh , is one of the 28 states of India, situated on the southeastern coast of India. It is India's fourth largest state by area and fifth largest by population. Its capital and largest city by population is Hyderabad.The total GDP of Andhra Pradesh is $100 billion and is ranked third...
into major industrial hubs. Identifying potential growth opportunities.
Further posts
Mr. Prasad is Vice Chairman & Founder of Matrix Laboratories, Chairman of VANPIC (Vaderavu and Nizampatanam Ports and Industrial Corridor) Project and Chairman of MAA TVMAA TV
Maa TV is a Telugu-language television channel based in Hyderabad, India.MAA TV was founded by PENMETSA MURALI KRISHNAM RAJU.It is one of the leading Telugu-language TV channels in Andhra Pradesh, India....
. He is serving as a Board Member of CARE Hospitals, Asian Institute of Gastroenterology, Sakshi Newspaper & TV Network, Bharati Cements (formerly Raghuram Cements) Mr. Prasad is on the Executive Board of the Indian School of Business
Indian School of Business
The Indian School of Business is a business school in Hyderabad, Andhra Pradesh, India and is widely recognized as one of the top business schools in the world. It offers a Post Graduate Programme in Management , a Fellow Program in Management, and a Post Graduate Programme in Management for Senior...
(ISB), Hyderabad, besides his association with several academic, research and business organizations. Mr. Prasad believes in the power of collective wisdom and participative management approach. He is a strong proponent that wealth and knowledge are enhanced only when they are shared.
Social causes
Nimmagadda FoundationNimmagadda Foundation
Nimmagadda Foundation is a philanthropic initiative of Mr. Nimmagadda Prasad, the Chairman of VANPIC Group. With major contributions by Prasad, in his personal capacity, Nimmagadda Foundation was set up to work in areas like healthcare, education, life skills improvement and community development...
, a social service initiative of Mr. Prasad, is supporting various institutions that work for providing healthcare and education in rural areas. The Foundation partnered with LV Prasad Eye Institute (LVPEI), Hyderabad, for eradication of blindness in children in the State of Andhra Pradesh by 2020. The foundation in collaboration with CARE Hospitals, Hyderabad, extends financial support to conduct life- saving congenital heart surgeries/interventions among children belonging to BPL families.
In 2010, he joined the advisory board of U.S. nonprofit TeachAIDS
TeachAIDS
TeachAIDS is a nonprofit organization that develops HIV prevention education technology materials, based on an approach invented through research at Stanford University.The TeachAIDS software has been cited as a model health intervention...
.
Awards and honors
Mr. Prasad known for his visionary thinking, strategic insights and execution capabilities, he earned “Fastest Wealth Creator” award to Matrix Laboratories consecutively for three years from 2004 to 2006 from India’s leading Equity Research firm Motilal Oswal Securities. Recognizing the achievements, the Government of Andhra PradeshGovernment of Andhra Pradesh
Government of Andhra Pradesh is the government for the state of Andhra Pradesh in South India.It is an elected government with 294 MLAs elected to the legislative assembly for a 5 year term.-Executive:...
state has bestowed Matrix Laboratories with the “Best Management Award” in the year 2006. With a ‘Social Perspective’ to the business enterprise, Mr. Prasad launched “Project Hope” in 2003 at Matrix Laboratories to develop cost efficient processes to reduce the prices of HIV/AIDS drugs significantly and achieved major breakthroughs in this regard. On the back of the success, Matrix signed a historic agreement with the Clinton HIV/AIDS Initiative (CHAI). Matrix currently provides medication to about 35% of HIV/AIDS patients in the developing world at a very affordable price.