Fernando Espinosa Abdalá

About Fernando Espinosa Abdalá

Fernando Espinosa Abdalá and his brother Leopoldo derive much of their fortune from the sale of their drug manufacturer Rimsa, which it sold to Tel Aviv-based Teva Pharmaceuticals for $2.3 billion.

Fernando was the operational president of the company before the sale in 2016.

Their father founded the business in 1970 as a pharmaceutical distributor before expanding into manufacturing.

Following the sale, Teva sued Fernando and Leopoldo claiming fraud and a breach of contract.

Most of the charges were dismissed; as for breach of contract, the parties eventually settled for less than $200 million.