List of Top 10 Pharma Companies in India 2024 (NSE)

The Top 10 Pharma Companies in India represent the vanguard of their nation’s pharmaceutical industry, serving as critical pillars for its healthcare infrastructure. These leaders are a mix of global giants and local powerhouses who have etched themselves into key roles within international pharma landscapes, contributing significantly to worldwide health solutions through rapid expansion in the rapidly evolving medical sector globally.

Top 10 Pharma Companies in India

1. Sun Pharmaceutical Industries Ltd

Sun Pharmaceutical Industries Ltd

Sun Pharmaceutical Industries Ltd., now headquartered in Mumbai, is one of the biggest pharma companies in India. It was founded by Dilip Shanghvi back in 1983 at Vapi, Gujarat. This company manufactures medicines that help treat various health problems such as mental disorders, kidney diseases, issues related to gastroenterology and orthopedics.

In addition to treating eye and heart health issues as well as other healthcare concerns, Sun Pharma’s diverse product range showcases their extensive expertise across numerous medical fields. This company made headlines with a significant acquisition in January 2024 when they bought the subsidiary Taro Pharmaceuticals for $347.73 million.

As one of top 10 pharma companies in India with around 38,000 employees under its wing, Sun Pharma boasts a remarkable market capitalization value of INR 451,122.96 crore in September 2024.

2. Divis Labs

Divis Labs

Divi Labs, is one of top 10 pharma companies in India, headquartered in Hyderabad, They are a major global supplier of some key pharmaceutical ingredients, Currently holding 60-85% of the worldwide market share for generic versions of the drugs naproxen, dextromethorphan, and gabapentin.  

Also, for pregabalin and methylamine ingredients, they hold 20-30% of the global market. Divi’s controls the full production process for these active pharmaceutical ingredients (APIs) from start to finish.

They are a central player contributing significantly to the Indian pharmaceutical industry with current market capitalization of 140,839.05 Crore INR as per September 2024 records.

3. Cipla Ltd

Cipla Ltd

Cipla Ltd stands out as another one of top 10 pharma companies in India. Their primary business of Cipla consists of manufacturing active pharmaceutical ingredients to other manufacturers as well as other  pharma and personal care products.

They are famous for creating the world’s first  first oral iron chelator drug, in 1995, also known for their  reverse engineering feats by creating cheaper versions of live saving drugs,  like During the AIDS crisis, they created a $304/year affordable antiretroviral drug and during avian flu in 2006 they created  affordable drug with reverse engineering..

The company is not only a significant pharma player but also a major contributor recruiter, with over 21,891 employees strength.

Holding an impressive 130,090.96 Crore market cap by September 2024. Being the third largest drug producer in India.

4. Torrent Pharma

Torrent Pharma

Torrent Pharma, with its headquarter in Ahmedabad, has a reputation for being skilled in specialty generics and biosimilars. This company plays an important role in forming the worldwide drug markets.

On June 5th of the year 2024, Torrent Pharmaceuticals shared news that they have made an agreement for non-exclusive patent licensing with Takeda. This is to help in selling Vonoprazan, which is a fresh gastrointestinal drug from Takeda’s range under its own brand name Kabvie in India. The purpose of this move aims at capturing opportunities within the acid reflux disease market valued around INR 8,064 crore and growing at Compound Annual Growth Rate (CAGR) of about 8% over these past four years.

Torrent Pharmaceuticals has more than 2,000 products that are registered worldwide in 40 countries. These cover different therapeutic areas including heart health, brain and nerve systems, stomach treatment, diabetes care along with confronting infections and managing pain.

Torrent Pharma, being one of top 10 pharma companies in India, holds 113,886.89 Crore INR in market cap as per September 2024.

5. Dr. Reddy’s Laboratories Ltd

Dr. Reddy's Laboratories Ltd

 Another best pharma company in India on the list is Dr. Reddys Labs, which is situated in Hyderabad. It has a well-deserved reputation for its wide array of products that cover numerous treatments for different diseases and disorders. Dr. Reddy’s Laboratories makes and markets many types of pharmaceutical products in India and other nations too.

The business generates more than 190 types of medicines, 60 active components applied in drug production, diagnostic testing units, products for crucial medical care and biotechnology items.

Nestlé and Dr. Reddy’s Laboratories have come together in a joint venture to build their range of nutraceutical products across India. This partnership will join the knowledge of Nestlé in nutritional health solutions with Dr. Reddy’s commercial strength within the Indian market.

It stands as the fifth largest pharma company in India by Market cap with a current value of 112,222.24 Crore INR.

6. Mankind Pharma

Mankind Pharma

Mankind Pharma, which has its main office in Delhi, is ranked as the sixth biggest among top 10 pharmaceutical companies in India. They have many different product lines covering areas such as therapeutic treatments, antibiotics, gastrointestinal issues, heart-related medications, skin problems (dermal), and medicines for erectile dysfunction.

By 2023, Mankind Pharma ran 25 factories and had 6 research and development centers in India. The Indian market made up for 97% of their operating income. As per September 2024 its market capitalization is currently at 107,118.22 Crore INR.

7. Zydus Life

Zydus Life

Among the list of pharma companies in India, Zydus Life has made its position in the top 5. It is based in Ahmedabad and is known for their skills in generic drugs and biosimilars. They have a global importance because they deal with these specialties. The pharma industry of India needs Zydus Life’s help to provide important meds and healthcare services in the country.

The company found its place in the 2020 Fortune India 500 list, also being ranked as 100th. Zydus Life is the seventh-largest pharma company of India when we talk about market value which stands at 107,018.02 Crore INR.

8. Lupin

Lupin

Lupin which is a multinational pharma company based in Mumbai, It is one of the biggest companies in the world that makes and sells generic (non-branded) medicines. The company focuses mainly on making medicines for children, heart conditions, infections, diabetes, asthma, and tuberculosis.

Lupin ranks eighth amongst leading pharma companies in India, with a valuation of around 98,896.43 Crore INR, as of September 2024.

9. Aurobindo Pharma

Aurobindo Pharma

Aurobindo Pharma headquartered in  HITECH City, Hyderabad. Known for their specialty generics, biosimilars, and significant contributions to the global pharmaceutical industry.  

The company’s product line consists of six major  therapeutic areas which consist of antibiotics, antiretrovirals, cardiovascular products, central nervous system products, gastroenterological, and anti-allergics. Also including major generics and pharma ingredients.

Being one of top 10 pharma companies in India, its market  is valued at around 87,937.67 Crore INR as of September 2024.

10. Alkem Laboratories

Alkem Laboratories

Alkem Laboratories is  known for their innovative products that significantly impact healthcare sector growth and development within our country. Being a crucial player in the Indian pharma industry landscape, Alkem Labs ensures millions get essential medicines and health care solutions daily by contributing towards overall well-being through diverse service provisions targeted at improving public welfare and medical needs across India.

Alkem Labs stands as the tenth biggest pharma company in India, valued at around 72,778.02 Crore INR according to the latest market in September 2024.

Conclusion

The top 10 pharma companies in India, from Sun Pharma to Dr. Reddy’s Labs, all the major players contribute an important role in the healthcare system. They make many different medicines for treating various diseases in India and other countries.

In 2024, these big Indian pharma companies are working to make cheaper versions of the popular weight loss drug Wegovy. Sun Pharma, Cipla, Dr. Reddy’s, and Lupin are developing their own alternatives. They want to meet the high global demand for weight loss treatments at lower costs after Wegovy’s patent ends.

Their advanced medicines are exported globally, driving major growth in the industry. India’s pharma exports reached $27.9 billion in 2023-24, despite a small overall export decline. Major markets like the USA, UK, and Netherlands are key for India’s dynamic pharma sector, which keeps evolving with new opportunities and rising worldwide demand.

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