Top 10 Pharmaceutical Companies In India

The top 10 pharmaceutical companies in India operate mainly in the generic drugs segment. Revenue from generic drugs forms the largest segment, accounting for 70% of the total Indian pharmaceutical sector. India produces drugs not only for domestic consumption but also for exports, given its expertise in making cheap, low-cost medicine. The country has made rapid strides in its pharmaceutical industry over the last decade. It has also been helped by a rapidly growing domestic market, where increasing per capita income has allowed citizens to afford medicine. There has also been increased spending on medical and old age products.

India is the largest provider of generic medicines in the world. The Indian Pharmaceutical sector constitutes 2.4% of the global pharmaceutical industry in terms of value and exports to more than 200 countries worldwide. It is interesting to note here that out of the 11 largest pharmaceutical companies in the world, five are U.S companies. The Indian pharmaceutical sector has experienced growth of 17.4% CAGR between 2005 and 2016, jumping from $6 billion in 2005 to $36.7 billion in 2016. It is expected to grow at a CAGR of almost 16% through 2020, to $55 billion. Most of the top 10 pharmaceutical companies in India are engaged in the production and distribution of generic drugs. They account for 20% of global exports in terms of volume.

In this article we’ve listed the top 10 pharmaceutical drug companies in India, ranked on the basis of their revenue. Check out the list beginning on the next page to see some of India’s fastest rising companies.

10. Divi’s Laboratories Ltd. – $580 million

Ranking tenth on our list of top 10 pharmaceutical companies in India is Divi’s Laboratories, founded in 1990 by Murali Divi. The company manufactures active pharmaceutical ingredients and intermediaries for the generics market. It has two large manufacturing units in South India. The company exports its products to European and American countries. Divi’s Laboratories Ltd. reported sales of $580 million (37.76 billion INR) for its fiscal year ended March 2016, representing an increase of 21% year-on-year.

9. Alkem Laboratories Ltd – $745 million

Alkem Laboratories is engaged in the development, manufacture and sale of pharmaceutical and neutraceutical products. It has a portfolio of more than 700 branded generic drugs. The company has about 14 manufacturing facilities in India and two in the U.S. Alkem markets its products in India in addition to 50 international markets. Alkem Labs reported sales of $745 million (49.76 billion INR) for its fiscal year ended March 2016, a 31% increase from the prior fiscal year.

8. Torrent Pharmaceuticals Ltd – $1 billion

Torrent Pharmaceuticals Ltd was founded in 1959 by a medical representative for a pharmaceutical company. The firm has a presence both in India and internationally, with more than 75% of its revenue coming from overseas markets like the U.S, Brazil, Germany, and the Philippines. In 2005, Torrent Pharma acquired Pfizer’s German business Heumann Pharma, gaining access to the European market. The company reported sales of $1 billion (66.76 billion INR) for its fiscal year ended March 2016.

7. Glenmark Pharmaceuticals Ltd – $1.2 billion

Glenmark is a global pharmaceuticals company headquartered in Mumbai, India. The company mainly sells its products in India, the United States, Latin America, and Europe. It manufactures products across therapeutic areas of dermatology, respiratory and oncology. Glenmark has offices in over 40 countries, 20 manufacturing facilities in over five countries, and five R&D centers. The company reported revenue of $1.2 billion (76.34 billion INR) for its fiscal year ended March 2016. The company derives 60% of its revenue from India and the U.S.

6. Cadila Healthcare Ltd – $1.45 billion

The company provides a range of healthcare solutions including active pharmaceutical ingredients, vaccines, diagnostics, herbals, animal healthcare, and cosmeceuticals. It has manufacturing facilities located in various parts of India. Cadila became the first Indian firm to produce a diabetic drug (Lipaglyn). Cadila signed a licensing deal with Abbott Laboratories (NYSE:ABT) to market Cadila’s generics in emerging markets. Cadila reported sales of $1.45 billion (98.38 billion INR) for its fiscal year ended March 2016.

We have reached the midway of our list of the top 10 pharmaceutical companies in India. Keep reading to find out who the major Indian players in this segment are.

5. Cipla Ltd – $2.01 billion

With sales of $2.01 billion (136.78 billion INR) for its fiscal year ended March 2016, Cipla Ltd ranks fifth on our list of the top 10 pharmaceutical companies in India. The company’s geographical segments include India, the U.S, South Africa, and the Rest of the World. The company offers its products for therapeutic areas, including cardiovascular, children’s health, dermatology and cosmetology, diabetes, HIV/AIDS, respiratory, urology, and women’s health. The company also manufactured a generic drug to fight HIV and offered it for sale at a fraction of the price at which it was selling at that time in foreign countries.

4. Aurobindo Pharma Ltd – $2.04 billion

The company was founded in 1986 and is headquartered in Hyderabad, India. It has a global footprint in over 150 countries with more than 10 manufacturing units and two R&D centers. Its product portfolio is spread over seven therapeutic/product areas, including antibiotics, anti-retrovirals, cardiovascular, central nervous system, gastroenterologicals, anti-allergies, and anti-diabetics. Sales at Aurobindo Pharma Ltd amounted to $2.04 billion (138.96 billion INR) for its fiscal year ended March 2016.

3. Lupin Limited – $2.09 billion

Lupin Ltd operates in the medicinals and botanicals sector. The company has manufacturing locations spread across India and 18 sites globally, including Japan, the United States, Mexico, and Brazil. US and India sales account for more than 65% of the company’s total revenue. Lupin Ltd. offers products in growth therapy segments, such as cardiology, central nervous system, anti-diabetic, anti-TB, anti-asthma, gynaecology, anti-infective, gastro-intestinal, and others. The company has achieved spectacular growth, registering a 17% CAGR over the last five years. The company plans to acquire a portfolio of 21 generic brands from Japan-based Shionogi & Co Ltd. The company reported sales of $2.09 billion (142.08 billion INR) for its fiscal year ended March 2016.

2. Dr. Reddy’s Laboratories Limited (ADR) (NYSE:RDY) – $2.27 billion

Formed in 1984 in Hyderabad, India, Dr. Reddy’s Laboratories Limited (ADR) (NYSE:RDY) owns more than 250 brands today. The company’s major markets include the U.S, India, Russia, Venezuela, South Africa, and Romania. Through its strategic alliance with GlaxoSmithKline, Dr.Reddy’s Laboratories also serves other markets like Brazil, Mexico, Chile, the Philippines, the Middle East, and North Africa. It formed a partnership with a division of Germany’s Merck & Co., Inc. (NYSE:MRK) to develop cancer drugs. The company operates in three segments – Global Generics, Pharmaceutical Services and Active Ingredients, and Proprietary Products. Dr.Reddy’s Laboratories Ltd reported sales of $2.27 billion (154.71 billion INR) for its fiscal year ended March 2016.

1. Sun Pharmaceutical Industries Limited – $4.15 billion

Ranking first on our list of the top 10 pharmaceutical companies in India is Sun Pharmaceutical Industries Ltd. with revenue of $4.15 billion (282.70 billion INR). Sun Pharmaceutical was co-founded by Dilip Sanghvi, the second-richest man in India. The company offers its products to therapy areas, such as cardiology, neuro-psychiatry, gastroenterology, anti-infective, diabetology, and dermatology. Its manufacturing units are situated in India, the United States and Brazil. The company has also entered into a distribution agreement with Japan’s Mitsubishi Tanabe Pharma Corporation to market 14 prescription brands in Japan.

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