India holds a strong position in the generic drugs market globally and is the largest provider of the same in the world. The pharmaceutical industry in India manufactures more than 50 per cent of the global medicine demands including 40 per cent demand in the United States and 25 per cent of all demand in the United Kingdom.
With the availability of a large number of scientists and engineers, India can definitely steer the growth of the pharma industry to the fifth gear and rise exponentially. Indian pharmaceutical firms supply over 80 per cent of the global requirements of AIDS drugs.
So, here we bring you the top 10 pharma companies in India. The companies are sorted by an average of their market capitalization, revenues and the net profit of 2017-2018 and total assets. The listing is updated for 2018.
Founded by Dilip Shanghvi, Sun Pharmaceuticals Limited is one of the top pharma companies in India. The Mumbai-based firm manufactures active pharmaceutical ingredients (APIs) and pharmaceutical formulations in countries like India and the United States.
Dilip founded the company in 1983 in Vapi area of Gujarat state. Initially, the company manufactured five products to treat psychiatry ailments. Sun Pharma acquired Ranbaxy in 2014 which made it one of the top 10 pharmaceutical companies in India.
Sun Pharma recorded over 72 per cent of its sales from overseas market, primarily in the United States, accounting for about 50 per cent of its turnover. The firm has manufacturing units set up in several countries including the US, Canada, Mexico, Brazil and Israel.
Market Cap – ₹138,489.02 Crores
Revenue – ₹7,947.60 Crores
Net Loss – ₹494.59 Crores
Total Assets – ₹26,548.60 Crores
Chief Executive Officer – Dilip Shanghvi
Headquartered in Mumbai, Cipla is one of the top 10 pharma companies in India. It develops medicines to treat respiratory, arthritis, diabetes, cardiovascular disease, weight control, depression and several other medical conditions.
CIPLA stands for The Chemical, Industrial & Pharmaceutical Laboratories and was founded by Khwaja Abdul Hamied way back in 1935. Cipla acquired South African pharma company Cipla-Medpro in 2013 and currently use it as a subsidiary.
Exports contribute more than 48 per cent to the pharma company’s revenue. It has 34 manufacturing units in 8 locations across India. The company has more than 22,000 employees (as of 2013) and that’s the reason it tops the list of pharmaceutical companies in India.
Market Cap – ₹49,204.93 Crores
Revenue – ₹11,444.81 Crores
Net Profit – ₹1,468.52 Crores
Total Assets – ₹14,287.95 Crores
Chief Executive Officer – Umang Vohra
Aurobindo Pharma Limited is a Hyderabad-based pharmaceutical manufacturing company in India. The firm’s strong point includes six therapeutic areas including antibiotics, central nervous system products, gastroenterological, antiretrovirals, cardiovascular products, and anti-allergic.
The firm deals with manufacturing and production of active pharmaceutical ingredients and generic medicines. Counted as one of the top pharma companies in India, the firm was founded way back in 1988 in Puducherry.
The firm is working towards entering markets like Poland, Italy, Spain, Czech Republic, Portugal and France. Aurobindo Pharma exports its products to more than 125 countries and it contributes to 70 per cent of its total revenue.
Market Cap – ₹45,401.98 Crores
Revenue – ₹10,303.15 Crores
Net Profit – ₹1,812.77 Crores
Total Assets – ₹13,636.41 Crores
Chief Executive Officer – N.Govindarajan
Lupin Limited tops the list of pharma companies in India and is the 12th largest company by market capitalization. It is also the eighth-largest pharmaceutical company in the world measured by revenue.
The firm was founded by Desh Bandhu Gupta in 1968. Mr Gupta was an associate professor at BITS Pilani then. The company sells its products to more than 70 countries including the USA, Europe, Japan, the Philippines, Australia and South Africa.
Lupins has 12 manufacturing plants across different locations in India including Jammu, Indore, Mandideep, Dabasa, Ankaleswar, Tarapur, Nagpur, Goa, Aurangabad, Vishakapatnam and Sikkim. It also has 2 research centres in Pune and Aurangabad respectively.
Market Cap – ₹38,609.53 Crores
Revenue – ₹10,088.18 Crores
Net Profit – ₹1,344.66 Crores
Total Assets – ₹15,797.25 Crores
Chief Executive Officer – Vinita D. Gupta
Dr Reddys Labs
Founded by Anji Reddy in 1984, this company is one of the top 10 pharmaceutical companies in India. Based in Hyderabad, the firm manufactures over 190 medications and 60 active pharmaceutical ingredients.
Anji previously worked at Indian Drugs and Pharmaceuticals Limited. He began as a supplier to drug manufacturers but soon started to export to other unregulated markets. Dr Reddy Laboratories was honoured among 1200 of India’s most trusted brands according to the Brand Trust Report 2014.
The company has seven active manufacturing plants across the country. In 1992, the company made its first move and expanded its operations to Russia. Three years ago in 2015, Dr Reddys acquired established brands of Belgian drugmaker UCB SA in South Asia for $128.38 million.
Market Cap – ₹40,100.07 Crores
Revenue – ₹9,359.30 Crores
Net Profit – ₹566.90 Crores
Total Assets – ₹14,396.60 Crores
Chief Executive Officer – G. V. Prasad
Headquartered in Ahmedabad, Cadila Healthcare Limited is one of the top 10 pharmaceutical companies in India. It was founded by Ramanbhai Patel in 1952. It is the sixth largest pharma company in India if we take the market cap, revenue, profits and total assets into account.
Patel was formerly a lecturer in the L.M. College of Pharmacy. He together with his business partner Indravadan Modi evolved the firm for 40 years into a matured and established pharmaceutical company in India.
Cadila has 10 manufacturing plants across the country including Ankleshwar, Vadodara, Patalganga, Navi Mumbai, Goa, Sikkim, Baddi, Dabhasa, Changodar and Vatva. The company acquired the Indian pharmaceutical firm German Remedies and Brazilian pharma firm Química e Farmacêutica Nikkho do Brasil Ltda.
Market Cap – ₹37,136.26 Crores
Revenue – ₹5,809.90 Crores
Net Profit – ₹1,090.80 Crores
Total Assets – ₹10,397.50 Crores
Chief Executive Officer – Pankaj Patel
Founded by Murali Devi in 1990, Divi’s Laboratories is one of the youngest firms that leads the list of pharma companies in India. The company exports products to more than 95 countries globally.
Divi’s manufactures Generic APIs, Nutraceutical Ingredients and offers Custom Synthesis of APIs to Big Pharma providing a competitive advantage over the entire life cycle of the products.
The R&D team at Divi’s is engaged in developing non-infringing processes attaining commercially viable price throughout the lifecycle of the product, infiltrating continuous process improvements
Market Cap – ₹39,023.88 Crores
Revenue – ₹3,837.23 Crores
Net Profit – ₹869.58 Crores
Total Assets – ₹6,022.76 Crores
Chief Executive Officer – Murali Divi
Biocon Limited is the Indias’s largest biopharmaceutical firm. The company is headquartered in Bengaluru and manufactures generic active pharmaceutical ingredients. Its products are sold worldwide to more than 120 counties.
Founded by Kiran Mazumdar-Shaw in 1978, it has become one of the top pharmaceutical companies in India. The firm employs more than 9000 people. The company was founded with just $140 as the initial capital.
Earlier in January this year, Biocon and Sandoz announced a partnership to develop, manufacture and commercialize multiple biosimilars in immunology and oncology for patients worldwide.
Market Cap – ₹37,752.00 Crores
Revenue – ₹2,419.20 Crores
Net Profit – ₹238.50 Crores
Total Assets – ₹6,805.80 Crores
Chief Executive Officer – Arun Suresh Chandavarkar
One of the top 10 pharma companies in India, Torrent Pharmaceuticals Limited is an Ahmedabad-based firm which manufactures drugs for gastrointestinal, diabetology, Cardiovascular (CV), central nervous system (CNS), anti-infective and pain management segments.
The company has a manufacturing plant in Dahej, Gujarat, another manufacturing plant at Pithampur, Madhya Pradesh, one each at Indrad, Mehsana, Gujarat and Baddi, Himachal Pradesh and 3 Manufacturing plants at Rang-Po, Sikkim.
The firm has subsidiaries in countries like Germany, Brazil, United States, Russia, Canada, United Kingdom and the Philippines. In 2005, the firm acquired Heumann GmbH, a Pfizer company.
Market Cap – ₹27,466.54 Crores
Revenue – ₹4,248.00 Crores
Net Profit – ₹482.00 Crores
Total Assets – ₹9,708.15 Crores
Chief Executive Officer – Samir Mehta
Founded by Gracias Saldanha in 1977, this Mumba-based pharmaceutical manufacturing company produces generic and active drugs. The company sells and exports products to more than 70 countries across the globe.
Saldanha named the company after his two sons Glen and Mark. Last year, the firm was leading the list of pharma companies in India with a fourth position and sales of more than $1.25 billion.
In 2001, Glen took over as CEO of the firm and by 2011, the founder became one of the richest men in India. The firm is currently working in innovating drugs for fields of cancer, dermatology and respiratory diseases.
Market Cap – ₹17,758.25 Crores
Revenue – ₹6,431.88 Crores
Net Profit – ₹1,014.35 Crores
Total Assets – ₹13,372.51 Crores
Chief Executive Officer – Glenn Mario Saldanha
The growth of Pharmaceutical Industry in India
Indian pharmaceutical industry currently stands at $33 billion and is expected to grow at a CAGR of more than 22 per cent to reach $55 billion in 2020. Indian pharmaceutical firms exported $17 billion worth of drugs last year. The numbers are expected to cross $19 billion in 2018-2019. The biotechnology industry in India including bio-services, bio-informatics and bio-agriculture will grow 30 per cent per year and will touch $100 billion marks by 2025.
The government of India has amended the existing FDI policy in the pharmaceutical sector which now allows 100 per cent foreign direct investment under the automatic route for manufacturing of medical related devices. However, the policy is subject to certain conditions. The initiative by the GoI attracted more than $15 billion of FDI between 2000 and 2018.
Top 20 Pharma Companies in India
Sun Pharma, Cipla, Aurobindo Pharma, Lupin, Dr Reddys Labs, Cadila Health, Divis Labs, Biocon, Torrent Pharma, Glenmark, Alkem Lab, GlaxoSmithKline, Abbott India, Natco Pharma, Sanofi India, Jubilant Life, Pfizer, Fresenius Kabi, Alembic Pharma and Ipca Labs
Top 50 Pharma Companies in India
Sun Pharma, Cipla, Aurobindo Pharma, Lupin, Dr Reddys Labs, Cadila Health, Divis Labs, Biocon, Torrent Pharma, Glenmark, Alkem Lab, GlaxoSmithKline, Abbott India, Natco Pharma, Sanofi India, Jubilant Life, Pfizer, Fresenius Kabi, Alembic Pharma, Ipca Labs, Ajanta Pharma, Eris Life, Wockhardt, Strides Pharma , Dr Lal PathLab, Laurus Labs, Sun Pharma Adv, Dishman Pharma, Unichem Labs, Merck, Granules India, Sterling Bio, FDC, JB Chemicals, Shilpa, AstraZeneca, Shasun Pharma, Suven Life Sci, Hikal, Nectar Life, Wyeth, Caplin Labs, Indoco Remedies, Aarti Drugs, Bliss GVS, Sequent Scienti, Panacea Biotec, Advanced Enzyme, Orchid Pharma and Ind-Swift Labs
Top 100 Pharma Companies in India
Sun Pharma, Cipla, Aurobindo Pharm, Lupin, Dr Reddys Labs, Cadila Health, Divis Labs, Biocon, Torrent Pharma, Glenmark, Alkem Lab, GlaxoSmithKline, Abbott India, Natco Pharma, Sanofi India, Jubilant Life, Pfizer, Fresenius Kabi, Alembic Pharma, Ipca Labs, Ajanta Pharma, Eris Life, Wockhardt, Strides Pharma , Dr Lal PathLab, Laurus Labs, Sun Pharma Adv, Dishman Pharma, Unichem Labs, Merck, Granules India, Sterling Bio, FDC, JB Chemicals, Shilpa, AstraZeneca, Shasun Pharma, Suven Life Sci, Hikal, Nectar Life, Wyeth, Caplin Labs, Indoco Remedies, Aarti Drugs, Bliss GVS, Sequent Scienti, Panacea Biotec, Advanced Enzyme, Orchid Pharma, Ind-Swift Labs, IOL Chemicals, Neuland Lab, Morepen Lab, Marksans Pharma, TTK Healthcare, Elder Pharma, Alembic, Astec Life, Vivimed Labs, SMS Pharma, Nath Bio-Genes, Hester Bio, Dr Datson Labs, Gufic Bio, Lincoln Pharma, Amrutanjan Heal, RPG Life, Venus Remedies, Albert David, Themis Medicare, Ind-Swift, Zota Health Car, Mangalam Drugs, Kopran, Arvind Remedies, Surya Pharma, Plethico Pharma, Bal Pharma, Kilitch Drugs, Wanbury, Parenteral Drug, JagsonpalPharma, Brooks Labs, Lyka Labs, Alpa Labs, Krebs Biochem, Bafna Pharma, Celestial Bio, Parabolic Drugs, Beta Drugs, Ortin Labs, Panchsheel Org, Sharon Bio Medi, Piramal Phytoca, Twilight Litaka and Syncom Health
The Road Ahead
India has already become the fastest growing major economy in the world. This resulted in increased consumer spending and rapid urbanization. The medicine and healthcare insurance spending in India is expected to grow 12 per cent annually and reach $30 billion by 2022.
To reduce the costs and health care expenses, the government is actively investing and taking impacting steps. The introduction and promotion of generic drugs will benefit the Indian pharma companies. Furthermore, the focus on rural health programmes and preventive vaccines has opened a new road for the growth of pharma companies in India.