India’s pharmaceutical industry has come a long way since its early days of producing generic drugs for the world. Today, the country is home to some of the largest and most innovative pharmaceutical companies in the world.
According to the Indian Economic Survey 2021, the domestic market is expected to grow 3x in the next decade. India’s domestic pharmaceutical market stood at US$ 42 billion in 2021 and is likely to reach US$ 65 billion by 2024 and further expand to reach US$ 120-130 billion by 2030.
Indian drug & pharmaceutical exports increased from US$ 16.8 billion to US$ 25.4 billion from 2016-17 to 2022-23. Indian drug & pharmaceutical exports stood at US$ 2,196.32 million in September 2022.
In this article, we will explore the Top 20 Pharmaceutical Companies in India and their contributions to the industry.
Top 20 Pharmaceutical Companies of India
| S.no | Company Name | Market Capitalization (April 2024, in INR Cr) | Revenue 2023 (Consolidated, in INR Cr) | Revenue (Standalone, in INR Cr) | Acquisitions | IPO Status |
|---|---|---|---|---|---|---|
| 1 | Sun Pharmaceutical Industries | 3,64,831 | 44,520.20 | 21,091.17 | 12 | Public |
| 2 | Divi’s Laboratories | 1,01,960 | 8,112.17 | 7,974.31 | 0 | Public |
| 3 | Dr. Reddy’s Laboratories | 1,03,713 | 25,725.20 | 17,553.80 | 6 | Public |
| 4 | Cipla Limited | 1,13,471 | 23,228.57 | 16,247.39 | 6 | Public |
| 5 | Emcure Pharmaceuticals | – | – | – | 4 | Registered |
| 6 | Biocon Limited | 35,022 | 11,550.10 | 2,264.30 | 1 | Public |
| 7 | Torrent Pharma | 91,121 | 9,665.29 | 7,777.08 | 5 | Public |
| 8 | Lupin Limited | 72,688 | 16,715.02 | 11,350.09 | 9 | Public |
| 9 | Zydus Lifesciences Limited (formerly Cadila Healthcare) | 95,688 | 17,424.00 | 9,280.00 | 4 | Public |
| 10 | Aurobindo Pharma Limited | 64,661 | 25,145.97 | 13,226.04 | 7 | Public |
| 11 | Intas Pharmaceuticals Limited | – | – | – | 2 | Private |
| 12 | Glenmark Pharma Limited | 30,464 | 13,306.90 | 9,206.60 | 4 | Public |
| 13 | Innovexia Life Sciences Pvt. Ltd. | – | – | – | 1 | Private |
| 14 | Biophar Lifesciences Pvt.Ltd. | – | – | – | 7 | Public |
| 15 | Mankind Pharma Limited | 91,408.27 | 8,878.00 | 8,289.94 | 1 | Public |
| 16 | Piramal Enterprises Limited | 18,714.22 | 9,086.74 | 4,837.13 | 1 | Public |
| 17 | Laurus Labs Ltd. | 23,922.00 | 6,046.55 | 5,789.40 | 3 | Public |
| 18 | Abbott India Ltd. | 55,609.32 | – | 5,502.88 | 2 | Public |
| 19 | Alkem Laboratories | 56,554.25 | 11,815.34 | 9,320.84 | – | Private |
| 20 | Alembic Pharmaceuticals | 2,396.80 | 191.51 | 187.27 | – | Private |
1. Sun Pharmaceutical Industries
| Company Name | Sun Pharmaceutical Industries |
|---|---|
| Founded | 1983 |
| Owner | Dilip Shanghvi |
| Headquarters | Goregaon, Mumbai |
| Website | Sunpharma.com |
It is a leading multinational pharmaceutical company in India. Sun Pharma was established in the year 1983. It was founded by Mr. Dilip Shanghvi, who is also the MD of Sun Pharmaceuticals. Sun Pharmaceutical Industries’ revenue was INR 44,520 cr in 2023. The company started offering products to treat psychiatric ailments. Now, the company also offers formulations in various therapeutic, gastroenterology, and diabetology.
Sun Pharmaceutical Industries is one of the largest pharmaceutical company in India based on overall revenue. It is the fourth largest global specialty generic pharmaceutical company in the world. It also sells Carbamazepine, Etodolac, and Clorazepate as well as anti-cancer, steroids, peptides, sex hormones, and controlled substances. Its subsidiaries include Ranbaxy Laboratories and Sun Petrochemical Pvt. Ltd, Sun Ophthalmic Inc, Alkaloida Chemical Company Zrt, Chattem Chemicals Inc. This pharmacy business sells affordable medicines in over 150 countries across 6 continents.
businessmen. In 2016, he received the fourth-highest civilian award Padma Shri from the Government of India. He was ranked 8th in India Today’s 2017 list of India’s most powerful people in the world. Forbes listed him as …
Megha Rani
2. Divi’s Laboratories
| Company Name | Divi’s Laboratories |
|---|---|
| Founded | 1990 |
| Owner | Murali Divi |
| Headquarters | Hyderabad |
| Website | www.divislabs.com |
Divi’s Laboratories Limited is a noteworthy player among the top 20 pharma companies in India. This Indian multinational pharmaceutical company, headquartered in Hyderabad, has made a significant impact on the global pharmaceutical industry. Divi’s Laboratories was founded in 1990. Divi’s Laboratories Ltd. manufactures active pharmaceutical ingredients (APIs) and intermediates. This pharmaceutical company in India is engaged in the manufacture of leading generic compounds, Nutraceutical ingredients, custom synthesis of APIs, and intermediates for global innovator companies. Divi’s Laboratories is one of the largest API companies in the world, with a revenue of INR 8,112.17 cr in 2023, and exporting to more than 95 countries.
3. Dr. Reddy’s Laboratories
| Company Name | Dr. Reddy’s Laboratories |
|---|---|
| Founded | 1984 |
| Owner | Dr. Kallam Anji Reddy |
| Headquarters | Hyderabad |
| Website | www.drreddys.com |
Dr. Reddy’s Laboratories was founded by Anji Reddy in 1984. It is an Indian multinational pharmaceutical company. It is known for manufacturing a wide range of pharmaceuticals in India and overseas. They have over 190 medications, 60 active pharmaceutical ingredients for drug manufacturers, diagnostics kits, critical care, and biotechnology products. It had a revenue of INR 25,725.20 cr in 2023. The notable products of Dr. Reddy’s include Canagliflozin. Ramipril, Ibuprofen, Naproxen, Atorvastatin, Nizatidine, Naproxen Sodium, etc.
4. Cipla Limited
| Company Name | Cipla Limited |
|---|---|
| Founded | 1935 |
| Owner | Yusuf Hamied |
| Headquarters | Mumbai |
| Website | www.cipla.com |
Cipla is an Indian multinational pharmaceutical and biotechnology company, that has its headquarters in Mumbai and was established in 1935 by Khwaja Abdul Hamied. Yusuf Hamied is the Non-Executive Chairman of Cipla. This pharmaceutical company in India focuses on developing medicines to treat respiratory, and cardiovascular diseases, arthritis, diabetes, weight control, depression, and many more.
Cipla had a revenue of INR 23,228.57 cr in 2023 and has more than 22,036 employees. The subsidiaries of Cipla are Invagen Pharmaceuticals. They are the largest manufacturer of antiretroviral drugs.
us. It is concerned with maintaining and restoring human health, and the role of
a pharmacist is vital for the benefit of the patients. Not all medicines are
available for low prices and thus cannot be afforded by everybod…
Arbaz Sayed
5. Emcure Pharmaceuticals
| Company Name | Emcure Pharmaceuticals |
|---|---|
| Founded | 1983 |
| Owner | Satish Ramanlal Mehta |
| Headquarters | Pune |
| Website | www.emcure.com |
Emcure Pharmaceuticals is a Pune-based company, which was founded in 1983 by Satish Ramanlal Mehta. It was to address the vision of fulfilling the vast healthcare needs that Emcure Pharmaceuticals was born. Emcure Pharmaceuticals started as a single manufacturing facility in Pune and has witnessed healthy growth throughout the years, now boasting a range of world-class manufacturing facilities spread across API, formulations, and biotechnology. Emcure is now known as a vertically integrated pharmaceutical company with commendable infrastructure, skills, and resources that are not only comparable to the best pharma companies in Pune, India but those that are considered as the best in the world. Manufacturing of APIs, Formulations, and Biotechnology can all be summed up as strengths of Emcure.
Namita Thapar, who is distinguished as one of the judges of Shark Tank India, is the Executive Director of Emcure’s India business.
Bharath
6. Biocon Limited
| Company Name | Biocon Limited |
|---|---|
| Founded | 1978 |
| Owner | Kiran Mazumdar-Shaw |
| Headquarters | Bengaluru |
| Website | www.biocon.com |
Founded in the year 1978, Biocon is the most popular pharmaceutical company in India. Biocon Limited manufactures generic active pharmaceuticals. The company is based out of Bengaluru. Products from Biocon Limited are sold around the world on a very huge scale. More than 9000 people are employed at Biocon and the company holds total assets valued at over $824 million.
7. Torrent Pharma
| Company Name | Torrent Pharma |
|---|---|
| Founded | 1959 |
| Owner | Sudhir Mehta |
| Headquarters | Ahmedabad |
| Website | www.torrentpharma.com |
Torrent Pharmaceuticals is a leading Indian multinational pharmaceutical company that specializes in the production of generic drugs and active pharmaceutical ingredients. It is based in Ahmedabad and has a revenue of INR 9,665.29 cr as of 2023. Torrent has manufacturing plants at Dahej, Pithampur, Gujarat, and Madhya Pradesh. Torrent Pharma makes medicinal drugs for the Central Nervous System, gastrointestinal pain management, gastrointestinal diabetology, and anti-infective segments. It is committed to providing high-quality and affordable healthcare solutions to patients across the world.
economic activities were paused, millions lost their job and many industries
faced difficulties. But there were also some industries like Online gaming,
Online grocery, Fintech, Telemedicine, Ed tech, online media that were boo…
PV Vyshnavi
8. Lupin Limited
| Company Name | Lupin Limited |
|---|---|
| Founded | 1968 |
| Owner | Manju D Gupta (W/o Desh Bandhu Gupta) |
| Headquarters | Mumbai |
| Website | www.lupin.com |
Lupin is a leading Indian multinational pharmaceutical company based in Mumbai that specializes in the development, production, and marketing of generic and branded drugs. Lupin was established in 1968 by Desh Bandhu Gupta. It is the 12th-largest company by market capitalization and is thus one of the most well-known pharmaceutical manufacturers in India. Lupin had a revenue of INR 16,715.02 cr in 2023. The company is involved in the manufacturing and selling of medicines ranging from pediatrics, cardiovascular, anti-infectives, diabetology, asthma, and anti-tuberculosis.
Lupin Limited has its major markets in the USA (Baltimore, Maryland), India Region Formulations, Europe, Japan, South Africa, Australia, Philippines, Mexico, Latin America, etc. Some of the subsidiaries of Lupin Ltd. are Lupin Pharmaceutical Inc., Kyowa Pharmaceutical Industry Co. Ltd., and many more.
9. Zydus Lifesciences Limited (formerly Cadila Healthcare)
| Company Name | Zydus Lifesciences Limited |
|---|---|
| Founded | 1952 |
| Owner | Pankaj Patel |
| Headquarters | Ahmedabad |
| Website | Zyduslife.com |
Zydus Lifesciences Limited (formerly Cadila Healthcare) was founded in 1952 by Ramabhai Patel. It is also known as Zydus Cadila. It is an Indian pharmaceutical company headquartered in Ahmedabad. It is one of the largest pharma companies in India and had a revenue of INR 17,424 cr in 2023.
Zydus Lifesciences Limited is also known for excellent diagnostics, along with being a manufacturer of herbal, skincare, and other OTC products. The company also produces generics for hepatitis C treatment, based on the voluntary license agreement with Gilead. Cadila makes API at three sites in India which are Ankleshwar plant, the Vadodara plant, and Patalganga.
vaccination was first prioritized for frontline and healthcare workers. The
Covishield vaccine and Covaxin have been approved by the government. There are
many more companies working behind developing the vaccine in the cou…
Alan Joseph
10. Aurobindo Pharma Limited
| Company Name | Aurobindo Pharma Limited |
|---|---|
| Founded | 1986 |
| Owner | P. V. Ramaprasad Reddy and Mr. K. Nityananda Reddy |
| Headquarters | Hyderabad |
| Website | www.aurobindo.com |
Aurobindo Pharma Limited was established in 1986. It sells over 300 products in over 125 countries and its key segment is APIS, as 35% of the total revenue is generated from API. It is the second-biggest pharmaceutical company in India and had a revenue of INR 25,145.97 cr in 2023. Aurobindo Pharma Limited is engaged in the manufacturing and selling of medicines in the fields of neurosciences, cardiovascular, Antiretrovirals, anti-diabetics, gastroenterology, cephalosporins, etc.
11. Intas Pharmaceuticals Limited
| Company Name | Intas Pharmaceuticals Limited |
|---|---|
| Founded | 1986 |
| Owner | Hasmukh Chudgar |
| Headquarters | Ahmedabad |
| Website | www.intaspharma.com |
Intas Pharmaceuticals Limited, based in Ahmedabad was founded in 1984 and had a revenue of $2.2 Billion in 2022. It has 13 commercialized biosimilars including Docetaxel and Paclitaxel. This pharma company in India has its R&D department in the field of chronic disease of oncology (cancer), rheumatology, auto-immune, nephrology, ophthalmology, and plasma-derived product-based therapies.
This pharmaceutical company has its headquarters in Ahmedabad and is one of the leading biosimilar product manufacturers in Asia. Intas has 14 formulation manufacturing facilities, of which seven are located in India and the rest in the UK and Mexico. It is the seventh-largest company in India, and the company saw an increase in revenue by 29.84% in 2017.
12. Glenmark Pharma Limited
| Company Name | Glenmark Pharma Limited |
|---|---|
| Founded | 1977 |
| Owner | Glenn Saldanha |
| Headquarters | Mumbai |
| Website | Glenmarkpharma.com |
Glenmark Pharma Limited is a pharma company headquartered in Mumbai, India that was founded in 1977 by Gracias Saldanha. This pharmaceutical company has drug discovery that plays an important role in the field of therapeutic areas of dermatology, respiratory, and oncology. It is the eighth largest pharma company and had a revenue of INR 13,306.90 cr in 2023. The company also focused on new biosimilar drugs and in the fields of cancer, dermatology, and respiratory diseases, by collaborating with major pharma companies.
solutions. The field of medicine is no exception. Doctors and other
practitioners in every capacity and designation can also come up with innovative
ways of earning cash through secondary sources. These alternate methods if…
Yash Gupta
13. Innovexia Life Sciences Pvt. Ltd.
| Company Name | Innovexia Life Sciences Pvt. Ltd. |
|---|---|
| Founded | 2011 |
| Owner | Sandeep Khajuria |
| Headquarters | Chandigarh |
| Website | www.innovexia.in |
Innovexia Life Sciences Pvt. Ltd. is one of the best pharmaceutical companies in India. It is involved in the manufacturing as well as the trading of various antacid medications, anti-allergic tablets, capsules, etc. It is also known as a top PCD Pharma Franchise company, that keeps investing and equipping itself with state-of-the-art facilities for high-quality medicines.
14. Biophar Lifesciences Pvt. Ltd.
| Company Name | Biophar Lifesciences Pvt. Ltd. |
|---|---|
| Founded | 2010 |
| Owner | Gulshan Rawat |
| Headquarters | Chandigarh |
| Website | Biopharlifesciences.co.in |
Biophar is a prominent player among the top 20 pharma companies in India, based in Chandigarh it deals in the PCD Pharma Franchise Business and manufacturing. The quality and reasonably priced formulations make the company one of the most reliable companies in India. Biophar has been expanding its client base by reaching every corner of the nation and adding more distributors. It is the constant endeavor that the company takes, which helps its business spread to other parts and create new networks.
15. Mankind Pharma Limited
| Company Name | Mankind Pharma Limited |
|---|---|
| Founded | 1995 |
| Owner | R. C. Juneja and Rajeev Juneja |
| Headquarters | New Delhi |
| Website | www.mankindpharma.com |
Mankind Pharma Limited is a pharma company in India that has its headquarters in New Delhi. It was founded in 1995 and helps in the production and sale of a wide range of products, including Antibiotics, Antifungals, NSAIDs, Gastrointestinal, Anthelmintic, Cardiovascular, Dermal, Erectile Dysfunction, and several other categories. The company had a revenue of approximately INR 8,878 cr in 2023 and is one of the top Indian pharma company.
16. Piramal Enterprises Limited
| Company Name | Piramal Enterprises Limited |
|---|---|
| Founded | 1984 |
| Owner | Ajay Piramal |
| Headquarters | Mumbai |
| Website | www.piramal.com |
Piramal Enterprises Limited is one of the popular companies for Pharmaceuticals in India. It was founded in 1984 and was acquired by Ajay Piramal in the early 1980s. The global business conglomerate deals with healthcare, life sciences, drug discovery, healthcare, etc. The company further deals with pharma, critical care, consumer products, phytomedicine, and imaging. Piramal Enterprises Limited is based on total revenue of INR 9,086.74 cr in 2023.
17. Laurus Labs Ltd.
| Company Name | Laurus Labs Ltd. |
|---|---|
| Founded | 2005 |
| Owner | Dr. Satyanarayana Chava |
| Headquarters | Hyderabad |
| Website | www.lauruslabs.com |
Laurus Labs, a leading research and development-driven Indian pharma and biotech company, is a notable player in the top 20 pharma companies in India and had a revenue of INR 6,046.55 cr in 2023. Laurus Labs is headquartered in Hyderabad and has its manufacturing plants located at Visakhapatnam, Hyderabad, and Bangalore. The company mainly focuses on active pharma ingredients, finished dosage forms, synthesis, and biotechnology. Laurus Labs leads in generic active pharmaceutical ingredients (‘APIs’) certain high-growth therapeutic areas of antiretrovirals (‘ARVs’), Hepatitis C, and Oncology.
Laurus Labs is a 4000-employee organization all of whom are always looking out to expand the horizons of Chemistry to develop new cures and new methods to cure people along with making a considerable profit. The employees of Laurus Labs Ltd. include pharmaceutical and biotechnology industry veterans, research scientists, manufacturing and management professionals, and more.
18. Abbott India Ltd.
| Company Name | Abbott India Ltd. |
|---|---|
| Founded | 1944 |
| Owner | Abbott Laboratories |
| Headquarters | Mumbai |
| Website | www.abbott.co.in |
Founded in 1944, Abbott is a subsidiary of Abbott Laboratories of USA, established back in 1910 and always dedicated to helping people live healthier lives. Abbott India is responsible for manufacturing a diverse range of nutritional products, diagnostic tools, branded generic pharmaceuticals, diabetes, vascular devices, and more.
Abbott’s products can be categorized into a wide range of therapeutic categories like women’s health, gastroenterology, cardiology, metabolic disorders, and primary care.
Headquartered in Mumbai, Abbott is one of the oldest pharmaceutical companies in India and among the largest MNC pharma companies.
19. Alkem Laboratories
| Company Name | Alkem Laboratories |
|---|---|
| Founded | 1973 |
| Owner | Samprada Singh |
| Headquarters | Mumbai |
| Website | www.alkemlabs.com |
Alkem or Alkem Laboratories Ltd. is one of the Indian multinational pharma companies from Mumbai that produces and sells pharmaceutical generics, formulations, and nutraceuticals in India and around the world. It had a revenue of INR 11,815.34 cr in 2023.
Alkem Laboratories has successfully set up 21 manufacturing plants, as of September 2021, out of which 19 plants are in India and 2 of Alkem’s plants are in the US. Alkem boasts of around 5 decades worth of popularity. Taxim from Alkem emerged as the first anti-infective drug to cross the 1,000 million mark of domestic sales in 2006.
20. Alembic Pharmaceuticals
| Company Name | Alembic Pharmaceuticals |
|---|---|
| Founded | 1907 |
| Owner | Chirayu Amin |
| Headquarters | Vadodara |
| Website | Alembicpharmaceuticals.com |
Alembic Pharmaceuticals was founded in 1907 in Vadodara, Gujarat. The company is involved in manufacturing pharmaceutical products, pharmaceutical substances, and intermediaries and has set up its manufacturing plants in Panelav and Karakhadi, Gujarat, and Sikkim.
The company initially started as Alembic Chemical Works in 1907, when the company began manufacturing tincture and alcohol in its unit at Vadodara. With its name in the Forbes’ 2016 list of ‘India’s Super 50 Companies 2016’, Alembic Pharmaceuticals is one of the most popular pharmaceutical brands in India.
Conclusion
India has a rapidly growing pharmaceutical industry and is becoming a major player in the global market. The top pharmaceutical companies in India, including Torrent Pharmaceuticals, Lupin, and Zydus Lifesciences Limited, have made significant contributions to the industry through their innovative products and commitment to high-quality healthcare solutions. These companies have a global presence and are expanding their reach to new markets, with a focus on affordable healthcare solutions for patients worldwide. With India’s growing expertise in the field of pharmaceuticals, the industry is set to witness significant growth in the years to come.
FAQs
What are the top 20 pharmaceuticals in India?
Here is the list of the top 20 pharmaceutical companies in India:
- Sun Pharmaceutical Industries
- Divi’s Laboratories
- Dr. Reddy’s Laboratories
- Cipla Limited
- Emcure Pharmaceuticals
- Biocon Limited
- Torrent Pharma
- Lupin Limited
- Cadila Healthcare Limited
- Aurobindo Pharma Limited
- Intas Pharmaceuticals Limited
- Glenmark Pharma Limited
- Innovexia Life Sciences Pvt. Ltd.
- Biophar Lifesciences Pvt. Ltd.
- Mankind Pharma Limited
- Piramal Enterprises Limited
- Laurus Labs Ltd.
- Abbott India Ltd.
- Alkem Laboratories
- Alembic Pharmaceuticals
Which is the No. 1 pharma company in India?
Based on revenue, Sun Pharmaceutical Industries Ltd. is the largest pharma company in India.
Who is the owner of Sun Pharma?
Dilip Shanghvi is the owner of Sun Pharmaceutical Industries Ltd.
What are the pharma companies in Ahmedabad?
There are numerous pharma companies in Ahmedabad. Some of the major pharmaceutical companies are:
- Torrent Pharmaceuticals
- Zydus Cadila
- Unison Pharmaceuticals Private Limited
- Dishman Pharmaceuticals
- Nabros Pharma Private Limited
- Acron Pharmaceuticals
- Nabros Pharma
What is the turnover of pharmaceutical companies in India?
The Indian pharmaceutical market (IPM) grew 6.8% to touch a turnover of Rs 1.93 trillion in the year 2023.
