Pioneering the Manufacturing Progress: Top 10 Leaders of India's Pharma Industry

India is one of the largest global producers of pharmaceutical products, including generic medicines, active pharmaceutical ingredients (APIs), therapeutics, and nutraceuticals. Due to increasing medical needs, the market size of the Indian pharmaceutical industry is expected to grow from $65 billion in 2024 to $130 billion by 2030. This growth is fueled by the rapid investment of Indian pharmaceutical companies in research and development, production of medical devices and APIs, and regulatory adherence. 

As the Indian pharmaceutical sector gears up for a rapid growth phase, several key players are making huge strides. Pharma Now highlights the 10 largest Indian pharmaceutical companies by market size.

Top 10 Pharmaceutical Companies in India

Sun Pharmaceutical Industries Ltd.

Establishment year: 1983

Market Capitalization: Rs 4.61 lakh crore

Sun Pharma is a Mumbai-based Indian multinational pharmaceutical company that manufactures and sells pharmaceutical formulations and APIs. It is the 4th largest global generic pharmaceutical company. Sun Pharma annually invests 6-8% of its global revenues in research and development. It has diverse specialties in therapeutic areas such as neuro-psychiatry, cardiology, gastroenterology, anti-infectives, diabetology, oncology, ophthalmology, dermatology, urology, and respiratory. Sun Pharma is the second leading company by prescriptions in the US dermatology market.

Divi’s Labs Limited

Establishment year: 1990

Market capitalisation: Rs 1.44 lakh crore

Divi’s Lab is headquartered in Hyderabad, India, and sells products in over 95 countries. Divi’s Lab is a leading manufacturer of generic APIs and a leading supplier of custom-synthesized APIs for large pharma companies. It also supplies various nutraceuticals, including carotenoids, multivitamins, and nutritional food. It has core manufacturing units in Hyderabad and Vizag, which have been approved by the USFDA and UK, Slovenia, German, and Irish authorities. Divi’s Lab received the EHS Excellence Award in 2022 from the CII South Region and the Best Corporate Social Responsibility Practices Award in 2021 from the World CSR Day Congress & Awards. It also received several awards/accreditations from various regulatory bodies. 

Cipla Ltd.

Establishment year: 1935

Market capitalisation: Rs 1.31 lakh crore

Cipla is a Mumbai-based pharmaceutical company offering products in 65 therapeutic categories and 50+ dosage forms. Cipla manufactures more than 1500 products in various fields, including HIV/AIDS, oncology, respiratory therapeutics, and so forth. Cipla's business functions include sales and marketing, manufacturing, supply chain management, integrated drug development and information technology. It also operates a humanitarian arm known as the Cipla Foundation, which, by collaborating with various NGOs, chiefly focuses on expanding access to sustainable development and growth to deprived groups. Cipla has been honoured with the National CSR Times Award 2024 and received a gold rating in the healthcare category for its Palliative Care Services in Goa. 

Torrent Pharmaceuticals

Establishment year: 1959

Market capitalization: Rs 1.16 lakh crore

Formerly known as Trinity Laboratories, Torrent Pharma is headquartered in Ahmedabad, Gujarat and has a presence in 50+ countries, including the U.S., UK, Germany, Brazil, and Europe. Torrent Pharma is the first Indian company with the highest market share in Germany and Brazil. Torrent has strengthened its position in the Indian market by acquiring various pharma companies, such as Elder Pharma's Indian brand in 2014, the Dermaceutical business of Zyg Pharma in 2015, the API plant of Glochem Industries in 2016, women healthcare brands from Novartis, Unichem's Indian branded business along with its Sikkim Plant in 2017. Torrent also acquired a Pfizer group company in 2005 to enter the German market. Later, the abbreviated new drug application (ANDA) of Minocycline from Ranbaxy was purchased for the US market in 2015. It is a leader in the therapeutic sectors like the central nervous system, gastrointestinal tract, women's healthcare, nutraceuticals, gynaecology, and oncology.

Dr. Reddy’s Laboratories

Establishment year: 1984

Market capitalization: Rs 1.11 lakh crore

Dr Reddy’s Laboratories started with a bold vision and moderate investment, and now, it has a presence in 76 countries and 53 nationalities. The company’s headquarters are in Hyderabad, Telangana. EcoVadis, the global sustainability ratings agency, has awarded Dr Reddy’s Laboratory a “Gold Medal” status. It manufactures branded, generic, and OTC medicines for therapeutics such as gastrointestinal, cardiovascular, pain management, oncology, anti-infective, paediatrics, and dermatology.

Zydus Lifesciences Ltd.

Establishment year: 1952

Market capitalization: Rs 1.06 lakh crore

Formerly known as Cadila Healthcare, Zydus is a Ahmedabad-based pharma company that has secured various awards in the pharmaceutical field for innovation, excellence, and business. Zydus Lifesciences Limited was awarded the 7th CSR Health Impact Award in the CSR Health Project category 2023 by the IHW Council. It was also declared the ‘Emerging Company of the Year’ by the Economic Times Awards for Corporate Excellence 2010. Zydus has manufacturing plants in Gujarat, Maharashtra, Goa, Himachal Pradesh, and Sikkim. With over 26,000 employees, Zydus has a presence in four markets: the US, Europe (France & Spain), Latin America, and South Africa. Its products range from new chemical entities and controlled-release drugs to peptides, monoclonal antibodies, API research, and nutraceuticals.

Mankind Pharma

Establishment year: 1995

Market capitalization: Rs 1.02 lakh crore

Headquartered in Delhi, Mankind is one of India’s largest pharmaceutical companies in terms of domestic sales. Its product portfolio consists of acute and chronic therapeutic areas. It also has a healthcare arm that produces antacid powders, contraceptives, pregnancy detection, and supplements like multivitamins and anti-acne agents. Mankind has 2319 trademarks under the Trademarks Act and 844 pending trademarks. The company has also filed for more than 300 patents in India and other countries, of which 85 have been granted.

Lupin Limited

Establishment year: 1968

Market capitalisation: Rs 1.01 lakh crore

Lupin is a Mumbai-based company that sells 1000+ products and delivers medicines to patients in over 100 countries. The company operates in 11 countries. Lupin has 15 global facilities and 7 R&D centers. Lupin’s primary therapeutic areas include CNS, respiratory, cardiovascular, anti-TB, and women's health. It is the largest provider of anti-TB APIs to several global institutes. Lupin has one of the most advanced pharmaceutical product development, including pilot plant facilities for oral, ophthalmic, dermatology and inhalation product development. Lupin also has tech-driven offerings such as AI-driven chatbots and Bluetooth-enabled inhalation devices.

Aurobindo Pharma Limited

Establishment year: 1986

Market capitalization: Rs 0.85 lakh crore

Aurobindo Pharma exports products across 150 countries and has 27 manufacturing and packing facilities globally. Its headquarters is in Hyderabad, Telangana. Its 11 manufacturing units for APIs and 15 manufacturing units for formulations are designed to meet the requirements of advanced and emerging market opportunities. Aurobindo Pharma Ltd also manufactures AuroZymes, a biocatalysts division in the Pharmaceutical and Chemical Industries. Aurobindo has received multinational accreditation. 

Alkem Lab Limited

Establishment year: 1973

Market capitalisation: Rs 0.75 lakh crore

Headquartered in Mumbai, Alkem sells products across 40 countries and has 19 manufacturing units worldwide. Its primary therapeutic areas range from essential therapies to dermatology, gastroenterology, anti-osteoporosis, urology and various OTC drugs. Their products are available in a full range of dosage forms, including tablets, capsules, injectables, powder for oral suspension and liquid. Their manufacturing facilities possess regulatory approvals from agencies such as USFDA, MHRA (UK), TGA (Australia), WHO, and so forth. It has filed 125+ ANDAs with the US FDA. 

Conclusion

India's pharmaceutical industry has experienced exponential growth, with numerous companies establishing themselves as global leaders. Some of these pharma companies, such as Sun Pharma, Cipla, Dr Reddy's Laboratories, and Lupin, have pivotally provided affordable and innovative healthcare solutions worldwide. They have expanded their presence across multiple therapeutic areas and geographies through strategic acquisitions, research and development investments, and a commitment to meeting international regulatory standards. Their focus on quality, sustainability, and corporate social responsibility further solidifies their standing in the global pharmaceutical market, ensuring continued success and contribution to global healthcare.

FAQs

1. What are the upcoming therapeutic and market areas in which to invest?

Investing in new therapeutic and market areas fulfils patients' unmet needs and positions companies to capitalise on innovation. Stem cell therapy, digital therapeutics, telemedicine, expanding the reach of orphan drugs in the global market, and solutions for AMR (anti-microbial resistance) are some sectors in which to invest.

2. How can a company speed up drug discovery timelines?

Combining AI and automation with R&D practices, collaboration with external partners, Early and continuous regulatory engagement, and investing in automation and robotics are steps to swift drug discovery and development.

3. What could be the best strategy for operating ADRs and post-marketing surveillance?

 Here are a few plans companies can adopt. Pharma companies must have a sturdy PV (Pharmacovigilance) system and utilise AI-driven tools for early detection of signals, real-world data utilisation, use digital tools to ease automation efficiently, updates on risk management pals and monitoring social media for ADRs.

4. What are the initial considerations when launching a novel product?

When establishing a new product, a company must consider these critical factors: market access and pricing, regulatory approval, target population, study of competitive environment, manufacturing and supply chain, and post-approval monitoring.