Leena Tewari: The reclusive pharma billionaire who purchased a Rs 639 crore duplex in Mumbai

Leena Tiwari, the low-profile chairperson of Mumbai-based drugmaker USV, has made a splash in the country's real estate circles with the purchase of two sea-facing duplex apartments in Worli, Mumbai, for an eye-watering Rs 639 crore, as per The Economic Times report. The deal now stands as the most expensive residential property transaction in India.

Spanning a carpet area of 22,572 sq. ft and located across the 32nd to 35th floors of a 40-storey ultra-luxury Naman Xana development tower overlooking the Arabian Sea, the deal clocks in at over Rs 2.83 lakh per sq ft.

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Tewari also shelled out Rs 63.9 crore towards stamp duty and GST, taking the total spend to nearly Rs 703 crore.

While medicine brands lik Glycomet, Ecosprin, and Roseday - sold by USV - are household names for diabetes and cardiac patients in India, Tewari herself has stayed away from the limelight.

Known for her discreet and methodical approach, she rarely courts public attention despite being one of India's richest women. Forbes pegs her net worth at $3.9 billion.

The transaction has stunned property market observers and financial circles alike, not just for its scale but for the sheer surprise of it.

Tewari, who is said to be a close friend of Nita Ambani, has never been associated with extravagant public purchases until now. Her husband Prashant Tewari, Managing Director at USV, also keeps a similarly low profile.

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USV, a family-run pharmaceutical business, has quietly carved out a formidable position in India’s competitive drug market. The company has steered clear of private equity and IPO routes, maintaining tight ownership and strategic control. In FY24, it reported revenues of Rs 4,840 crore, per data from Tracxn.

USV’s top-performing brand, Glycomet, is the second-largest selling product in the Indian pharma market, clocking Rs 806 crore in sales—just behind GSK’s Augmentin. Ecosprin remains a go-to blood thinner, while Roseday is widely prescribed for cholesterol management.

Still, challenges lie ahead. Glycomet faces growing competition from newer diabetes treatments. USV is eyeing growth in India’s insulin market and is exploring the development of generics for semaglutide, the active ingredient in the global weight-loss blockbusters Ozempic and Wegovy.

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