Did you know that India is home to some of the most influential and innovative pharmaceutical companies in the world? The pharmaceutical industry in India is expected to reach $65 billion by 2024 and $130 billion by 2030. The pharmaceutical industry in India is currently valued at $50 billion. India is also the largest provider of generic drugs globally, accounting for 20% of the global volume and 62% of the global demand. Moreover, India is a major exporter of vaccines, APIs, and biosimilars, serving more than 200 countries and regions. The success of Pharmaceutical Companies in India is evident in their global impact and contributions to healthcare advancements.
In this blog, we will explore the top 7 pharmaceutical companies in India and their impact on healthcare, both domestically and internationally. By the end of this, you will have a comprehensive understanding of the Indian pharmaceutical industry and its role in improving the health and well-being of millions of people around the world
So, let’s get started!
Who are the top 7 pharmaceutical companies in India?
Based on the criteria such as such as market capitalization, revenue, product portfolio, innovation, and social responsibility. We have ranked the top 7 pharmaceutical companies in India.
1. Sun Pharmaceutical Industries Ltd
- Founded: 1983
- Founder: Dilip Shanghvi
- Headquarters: Mumbai
- Valuation: $33.5 billion
- Revenue: $5.7 billion
Sun Pharma has emerged as India’s largest pharmaceutical entity, showcasing its diverse presence across psychiatry, neurology, cardiology, gastroenterology, ophthalmology, and dermatology. With a remarkable portfolio comprising over 2,000 formulations and 16,000 APIs, Sun Pharma stands as a pivotal player in the pharmaceutical landscape.
Sun Pharma’s global influence is underscored by its 44 manufacturing facilities across six continents, accompanied by an impressive intellectual property portfolio featuring over 500 patents and 2,000 pending applications. Recognized as Forbes Asia’s Fab 50 Companies in 2023 and Economic Times India’s Most Admired Companies in 2022, Sun Pharma strategically focuses on complex generics, specialty drugs, and biosimilars, contributing to its diversified product array.
The company’s success is not confined to financial milestones but extends to impactful collaborations, including partnerships with Merck & Co. for oncology drugs, the acquisition of Taro Pharmaceutical Industries, and a merger with Ranbaxy Laboratories. Demonstrating a commitment to global healthcare, Sun Pharma ensures accessibility to affordable, quality medicines while investing in healthcare infrastructure, workforce development, and digital transformation.
Beyond its business pursuits, Sun Pharma actively engages in corporate social responsibility initiatives, encompassing health awareness, medical donations, and support for education and livelihood. In essence, Sun Pharma’s influence transcends borders, exemplifying unwavering dedication to advancing global healthcare.
2. Divis Laboratories Ltd
- Founded: 1990
- Founder: Murali Divi
- Headquarter: Hyderabad
- Valuation: $12.6 billion
- Revenue: $1.13 billion
Divis Laboratories has ascended to become one of the leading pharmaceutical companies in India, with a global presence in 95 countries and 13 manufacturing facilities across the country. Divis Laboratories specializes in over 100 APIs and intermediates across diverse therapeutic areas, showcasing its commitment to innovation through holding more than 50 granted patents and over 100 pending applications.
Standing out as the world’s leading manufacturer of Naproxen and Dextromethorphan, pivotal anti-inflammatory and anti-cough agents, the company strategically focuses on high-value, low-volume APIs and intermediates, maintaining a diverse and niche product portfolio. Notable products in their robust pipeline include Efavirenz, Rivaroxaban, and Apixaban. Recognized with prestigious awards like the India Pharma Export Excellence Award (2023) and the India Pharma Company of the Year Award (2022), Divis Laboratories solidifies its global standing through strategic collaborations and acquisitions, including the Gilead Sciences partnership for Remdesivir production (2021) and the Biocon facility acquisition (2020).
The company’s commitment to providing affordable, high-quality medicines globally, particularly for chronic and life-threatening conditions like HIV/AIDS, cancer, and cardiovascular diseases, underscores its societal contribution to pharmaceutical companies in India. Through strategic investments in advanced facilities, technology, employee training, and development initiatives, Divis Laboratories supports healthcare infrastructure and the workforce. Additionally, the company engages in various CSR initiatives, including health awareness promotion, health camps, medicine and equipment donations, and support for education and livelihood.
3. Dr. Reddy’s Laboratories Ltd
- Founded: 1984
- Founder: Dr. Kallam Anji Reddy
- Headquarter: Hyderabad
- Valuation: $9.1 billion
- Revenue: $3.5 billion
Dr. Reddy’s Laboratories stands as the third-largest pharmaceutical company in India. With a comprehensive product lineup encompassing over 350 formulations and 60 APIs across therapeutic domains like oncology, cardiovascular, dermatology, gastroenterology, and pain management, Dr. Reddy’s Laboratories has garnered a global footprint in more than 40 countries. Boasting 33 manufacturing facilities on five continents, the company is at the forefront of innovation, holding over 400 granted patents and 1,500 pending applications.
Key highlights and achievements include being the first Indian firm to launch a biosimilar product in the U.S. with Fulphila, a biosimilar of Neulasta, in 2021. Dr. Reddy’s Laboratories focuses on complex generics, specialties, and biosimilars, boasting a robust pipeline featuring products like Ilumya, Cequa, and MK-3222.
The company has been recognized with prestigious awards, such as the India Pharma Export Company of the Year Award (2023) and the Business Today Best Company to Work For Award (2022). Engaging in collaborations and acquisitions, notable instances include the partnership with RDIF for distributing the Sputnik V vaccine (2021) and the acquisition of select business divisions from Wockhardt (2020).
The company also provides affordable and quality medicines for chronic and life-threatening diseases globally, supports healthcare infrastructure, and engages in diverse CSR initiatives, emphasizing health awareness, health camps, and support for education and livelihood.
4. Cipla Ltd
- Founded: 1935
- Founder: Khwaja Abdul Hamied
- Headquarter: Mumbai
- Valuation: $9.8 billion
- Revenue: $2.7 billion
Cipla stands at fourth place in the list of pharmaceutical companies in India. As a global player, Cipla operates in over 80 countries, boasting 46 manufacturing facilities across four continents.
Distinguished by a product portfolio encompassing more than 1,500 formulations and 200 APIs spanning therapeutic areas such as respiratory, urology, anti-infectives, cardiovascular, diabetes, and oncology, Cipla has secured a noteworthy presence in the pharmaceutical landscape. The company’s commitment to innovation is evident through its extensive patent portfolio, with over 300 granted patents and over 1,000 pending applications.
Among its notable achievements, Cipla holds the title of the world’s largest manufacturer of antiretroviral drugs, vital in treating HIV/AIDS. Since 2001, the company has been a stalwart provider of these drugs at affordable prices to low- and middle-income nations. Cipla’s product range extends to respiratory, chronic, and acute therapies, biosimilars, and specialty products, backed by a robust pipeline featuring innovative drugs like Albuterol, Ciplenza, and Cipremi.
Accolades earned by Cipla include the India Pharma Company of the Year Award in 2023, the Frost & Sullivan India Healthcare Excellence Award in 2022, and the CNBC-TV18 India Business Leader Award in 2021. Cipla’s multifaceted approach positions it as a key player in shaping the pharmaceutical landscape, both domestically and internationally.
5. Apollo Hospitals Enterprise Ltd
- Founded: 1983
- Founder: Prathap C. Reddy
- Headquarter: Chennai
- Valuation: $6.3 billion
- Revenue: $1.6 billion
Apollo Hospitals Enterprise Ltd, with a global footprint in 20 countries, Apollo Hospitals boasts a diverse product portfolio comprising over 500 formulations and 100 APIs across various therapeutic areas. The enterprise operates an extensive network encompassing 70 hospitals, 343 primary clinics, 129 dental clinics, and 5,500 pharmacy stores. Renowned for its innovation, the company holds over 100 granted patents and 200 pending applications.
Key highlights include being India’s largest hospital chain and the third-largest private health insurer, serving 20 million customers and 1,000 corporate clients. Apollo’s diversified portfolio spans tertiary and quaternary care, preventive and primary care, diagnostics, pharmacy, and health insurance. Notable innovations like the Apollo 24/7 digital platform, the Apollo Proton Cancer Centre, and the blood donation app, Apollo B Positive, showcase the company’s forward-thinking approach.
Awards such as the India Healthcare Excellence Award in 2023 underscore Apollo’s commitment to excellence, while strategic collaborations with Microsoft and acquisitions like Assam Hospitals solidify its industry presence. The company’s dedication to holistic healthcare is evident through affordable, quality medicines globally, substantial investments in healthcare infrastructure, workforce development, and diverse corporate social responsibility initiatives. These include health awareness campaigns and support for education and livelihood, emphasizing Apollo’s commitment to comprehensive healthcare.
6. Torrent Pharmaceuticals Ltd
- Founded: 1959
- Founder: U. N. Mehta
- Headquarter: Ahmedabad
- Valuation: $6.2 billion
- Revenue: $1.09 billion
Torrent Pharmaceuticals Ltd, one of the prominent Pharmaceutical Companies in India, is India’s sixth-largest pharmaceutical company. Boasting a global presence in 40 countries, the company operates 16 manufacturing facilities across three continents, offering over 1,000 formulations and 100 APIs in therapeutic areas like cardiovascular, central nervous system, gastrointestinal, diabetology, and anti-infectives. Recognized for innovation, Torrent holds over 200 granted patents and 500 pending applications.
Key features include Torrent’s status as the largest global manufacturer of losartan, a hypertension treatment, and its diversified portfolio, emphasizing chronic and specialty therapies, biosimilars, and nutraceuticals. Awarded accolades such as the India Pharma Quality Excellence Award (2023) and India Pharma Brand of the Year Award (2022), the company has engaged in strategic collaborations, including a partnership with Novo Nordisk and acquisitions like Unichem Laboratories’ domestic branded business.
Involved in the development, manufacturing, and distribution of crucial products like Favipiravir, Remdesivir, and Covaxin, the company ensures global access to affordable, high-quality medicines, notably in the cardiovascular, central nervous system, gastrointestinal, and diabetology fields. Beyond this, Torrent invests in sustainable facilities, technology, and workforce development, undertaking various corporate social responsibility initiatives, including health awareness campaigns, health camps, and support for education and livelihood. In summary, Torrent Pharmaceuticals Ltd, as a key player in the pharmaceutical landscape in India, combines innovation, accessibility, and corporate responsibility in its global health contributions.
7. Zydus Lifesciences Ltd
- Founded: 1952
- Founder: Ramanbhai Patel
- Headquarter: Ahmedabad
- Valuation: $4.4 billion
- Revenue: $1.9 billion
Zydus Lifesciences Ltd boasts a diverse product portfolio comprising over 1,200 formulations and 300 APIs, spanning therapeutic areas like immunology, oncology, cardiovascular health, women’s health, and wellness. Operating in over 50 countries with 23 manufacturing facilities across four continents, Zydus is a leader in innovation, holding 300 patents and over 1,000 pending applications.
Key features and achievements include being the first in India to launch Bilypsa (Saroglitazar) for NASH in 2021. Zydus focuses on biosimilars, novel products, and consumer wellness, with a strong pipeline including Pegfilgrastim, Desidustat, and ZyCoV-D, a DNA-based COVID-19 vaccine.
Accolades like the India Pharma Innovation of the Year Award in 2023 and the India Pharma Company of the Year Award in 2022 attest to its excellence. Collaborations and acquisitions, such as the partnership with Bayer, the acquisition of Heinz India’s wellness business, and a joint venture with Hospira, showcase strategic growth.
It provides access to affordable medicines globally and supports healthcare infrastructure through investments in capacity building and digital transformation. The company actively engages in CSR initiatives, promoting health awareness, organizing health camps, and contributing to education and livelihood, showcasing a holistic commitment to societal well-being.
Conclusion
This blog ranks India’s top 7 pharmaceutical companies, including some of the leading Pharmaceutical Companies in India, based on market capitalization, revenue, product portfolio, innovation, and social responsibility. Each company is briefly outlined, highlighting key features, achievements, and healthcare impact. These industry leaders demonstrate growth, resilience, and innovation, contributing significantly to the global pharma landscape. Their advancements have enhanced the health and well-being of millions worldwide. We trust this informative and engaging blog sparks your interest. If you wish to gain further insights into the pharmaceutical industry, share your preferences, so we can craft relevant topics for you.
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