India’s pharmaceutical industry is a global powerhouse, ranking as the world’s third-largest by volume and the largest supplier of generic medicines. With a market share of 20% and contributing 3.5% to the total pharmaceutical exports by volume, India is a crucial player in the global healthcare ecosystem. The domestic pharmaceutical market in India was estimated at $42 billion in 2021 and is projected to surpass $65 billion by 2024.
In 2021, India’s drug and pharmaceutical exports were valued at $24.44 billion. The COVID-19 pandemic accelerated the demand for healthcare services and vaccines, with India supplying medicines and vaccines to numerous countries. By May 2021, India had supplied COVID-19 vaccines, including grants, commercial exports, and exports under the COVAX policy, to 71 countries. Additionally, Indian pharmaceutical companies supply approximately 80% of the antiretroviral drugs used globally to combat AIDS (Acquired Immunodeficiency Syndrome). Here are the top 10 pharma companies in India, driving this massive industry:
1. Sun Pharmaceutical Industries Ltd
Founder: Dilip Shanghvi
Revenue: ₹334.73 billion (as of 2020)
Net Income: ₹37.65 billion (as of 2020)
No. of Employees: 36,000 (as of 2020)
Sun Pharmaceutical Industries Ltd, established in 1983 and headquartered in Mumbai, Maharashtra, is the largest pharmaceutical company in India and the fourth-largest generic pharmaceutical company globally. It specializes in chronic and acute therapies, including Active Pharmaceutical Ingredients (API), antiretrovirals (ARVs), over-the-counter (OTC) drugs, and generic drugs. Sun Pharma produces 30 billion doses annually across therapeutic segments like neuropsychiatry, cardiology, neurology, gastroenterology, diabetology, respiratory, anti-infective, and oncology. The acquisition of Ranbaxy in 2014 solidified its position as India’s largest pharma company. Sun Pharma operates over 40 manufacturing plants and provides more than 2,000 formulations worldwide.
2. Dr. Reddy’s Laboratories Ltd
Founder: Kallam Anji Reddy
Revenue: ₹17,460 crore (as of 2020)
Net Income: ₹19,540 crores (as of 2020)
No. of Employees: 21,650
Dr. Reddy’s Laboratories Ltd, founded in 1984 and headquartered in Hyderabad, Telangana, produces active pharmaceutical formulations, generic drugs, OTC drugs, and 60 APIs. The company has more than 10 FDA-approved plants in India. During the COVID-19 pandemic, Dr. Reddy’s partnered with the Russian Direct Investment Fund to conduct clinical trials and produce 100 million doses of Russia’s Sputnik V vaccine for India.
3. Divi’s Laboratories Limited
Founder: Murali Divi
Revenue: ₹5,585.05 crore (as of 2020)
Net Income: ₹1,376.54 crores (as of 2020)
No. of Employees: 13,884
Divi’s Laboratories, founded in 1990 and headquartered in Hyderabad, Telangana, manufactures APIs, intermediates, and nutraceutical ingredients. It is India’s second most valuable pharma company by market capitalization. Divi’s operates three manufacturing units in Hyderabad, Visakhapatnam, and Kakinada, along with three R&D units. The company exports products to Japan, the USA, Australia, South Africa, and the Philippines and has subsidiaries like Divi’s Laboratories (USA), Inc. and Divi’s Laboratories Europe AG.
4. Cipla Ltd
Founder: Khwaja Abdul Hamied
Revenue: ₹17,476.19 crore (as of 2020)
Net Income: ₹1,546.98 crores (as of 2020)
No. of Employees: 22,036
Cipla Ltd, founded in 1935 and headquartered in Mumbai, is renowned for its generic medicines addressing conditions such as respiratory ailments, diabetes, and weight management. Cipla is the world’s largest manufacturer of antiretroviral drugs. The company operates 34 manufacturing units in India and 80 other countries, supplying over 2,000 formulations globally.
5. Aurobindo Pharma Ltd
Founders: V. Ramprasad Reddy and K. Nityanana Reddy
Revenue: ₹23,290 crore (as of 2020)
Net Income: ₹2,844 crore (as of 2020)
No. of Employees: 23,000
Aurobindo Pharma, established in 1986 and headquartered in Hyderabad, specializes in generic pharmaceuticals and APIs. The company expanded significantly after acquiring ACTAVIS’s generic operations in seven Western European countries in 2014. Aurobindo Pharma supplies products to 125 countries and operates multiple production and R&D units globally.
6. Torrent Pharmaceuticals Ltd
Founder: Uttambhai Nathalal Mehta
Revenue: ₹8,060 crore (as of 2020)
Net Income: ₹1,024 crore (as of 2020)
No. of Employees: 12,881
Torrent Pharmaceuticals, founded in 1959 and headquartered in Ahmedabad, is part of the Torrent Group. It focuses on therapeutic areas like cardiovascular, gastrointestinal, central nervous system, women’s healthcare, anti-infective, diabetology, oncology, gynecology, and pain management. Torrent Pharma operates manufacturing plants and research centers across India and holds subsidiaries like Heumann Pharma GmbH & Co., Bio-Pharm, Inc., among others.
7. Lupin Limited
Founder: Desh Bandhu Gupta
Revenue: ₹158,585 million (as of 2020)
Net Income: -₹2,693 million (as of 2020)
No. of Employees: 18,302
Lupin Limited, established in 1968 and headquartered in Mumbai, produces a broad range of products, including generic drugs, biotechnology products, and APIs. The company’s focus areas include anti-tuberculosis, asthma, diabetology, cardiovascular, anti-infective, and pediatrics. Lupin has manufacturing units in India, Mexico, Brazil, the United States, and Japan, supplying products to over 100 countries.
8. Zydus Cadila Healthcare Ltd
Founder: Ramanbhai Patel
Revenue: ₹15,139 crore (as of 2021)
Net Income: ₹2,133 crore (as of 2021)
No. of Employees: 25,000
Zydus Cadila, founded in 1952 and headquartered in Ahmedabad, is a leading manufacturer of pharmaceuticals, diagnostics, herbal products, OTC products, and skincare products. Zydus operates in regulated markets like the United States, Europe, South Africa, and Latin America. The company has over 30 manufacturing units globally and developed the COVID-19 vaccine ZyCoV-D, conducting human trials with market availability expected by September 2021.
9. Abbott India Ltd
Founder: Dr. Wallace Calvin Abbott
Revenue: ₹1,094.54 crore (as of 2021)
Net Income: ₹152.47 crore (as of 2021)
No. of Employees: 14,000
Abbott India, a subsidiary of Abbott Laboratories (USA), was founded in 1944 and is headquartered in Mumbai. It produces pharmaceutical drugs and offers therapeutics in neurology, women’s health, gastroenterology, anti-infective, diabetology, urology, thyroid, and vitamins. Abbott India manufactures 400 branded generic pharmaceuticals worldwide, known for their high quality and reliability.
10. Alkem Laboratories Ltd
Founder: Samprada Singh
Revenue: ₹84,485 crore (as of 2020)
Net Income: ₹11,270 crore (as of 2020)
No. of Employees: 14,331
Alkem Laboratories, founded in 1973 and headquartered in Mumbai, markets high-quality generic pharmaceuticals, APIs, and nutraceuticals in India and over 50 countries. The company operates 21 manufacturing units, including 19 in India and 2 in the USA. Alkem is known for its anti-infective drugs, being the first Indian pharmaceutical company to surpass 1,000 million sales in this category.
Conclusion
India’s pharmaceutical industry is a global leader, contributing significantly to the world’s healthcare needs. The top 10 pharma companies in India are at the forefront of innovation, quality, and global outreach, ensuring the availability of essential medicines and healthcare products worldwide. As the industry continues to grow, these companies will play a pivotal role in shaping the future of global healthcare.