Top 10 Pharmaceutical Companies in India 2017

Published by MBA Skool Team, Last Updated: June 18, 2017

India claims a position of its own in the global pharmaceutical industry, as its pharmaceutical market stands the third largest when considered the volume of production and stands thirteenth in the value of the industry. Indian Pharma industry is expected to grow with a CAGR of 15% is expected between the years 2015 to 2020, which is three times the annual growth rate of the global Pharma Industry. The top Indian pharma companies include Sun Pharma, Lupin, Aurobindo Pharma, Cipla, Dr Reddys Labs etc. Here is the list of the top 10 pharmaceutical companies in India 2017 as per Revenue and Profit.

India being the largest producer of generic medicines exports 20% of the global generic medicines exports, no wonder generic medicines constitute 70% of the pharmaceutical market share in India. While OTC (Over the Counter) and patented medicines accounts for 21% and 9% of the market share respectively. The cost of production in India being significantly larger than its competitors even half of that of the European counterparts gives a competitive advantage thus the growth of the Indian Pharmaceutical Industry is very promising.

Quick Glance at the Top Pharma Companies in India 2017

1st place: Sun Pharma

2nd place: Lupin

3rd place: Aurobindo Pharma

4th place: Cipla

5th place: Dr Reddys

6th place: Cadila Healthcare

7th place: Torrent Pharma

8th place: Divis Lab

9th place: Glenmark

10th place: Piramal Enterprises

For more details about rankings and parameters, read on.


Largest Pharma Companies India 2017 Ranking with Parameters (Revenue, Profit):


10. Piramal Enterprises

Piramal Enterprises is a flagship company of Piramal Groups established in 1988 which is a pioneer pharmaceutical in India.


Image: company website

Ajay Piramal is the chairman of this company which is headquartered in Mumbai, Maharashtra. The company has centered its operations in pharmaceutical, financial services and information management sectors, and is one of the leading pharmaceutical brands in India.

When the company began its operations in late 80s others were busy investing in international generics but they placed their bets on the domestic formulation development business resulting in a great track record of 23% CAGR since then and became one of the most regarded names as they noticeably stood out in Indian pharmaceuticals market. In last fiscal year Piramal Enterprises managed to grab a revenue of 3883 crore Indian rupees making it the 10th largest Pharmaceutical company in Indian industry.

Operating in two verticals, namely Pharma and Healthcare Solutions Piramal Enterprises has their facilities spread all across India stretching from Himachal in the North to Tamil Nadu down South. As of now Piramal healthcare has its market in more than 100 countries and have manufacturing bases across India, UK, Scotland, USA etc. It is currently the 3rd largest company in the global Inhalation Anesthesia market, and the only company in the world having a complete product portfolio of Inhalation Anesthetics medicines. Acquiring Coldstream Laboratories boosted their expertise to manufacture sterile injectable products. They do consulting in the lines of pharmaceutical development and manufacturing solutions and offer healthcare products too. They have been focusing on researching and developing phytomedicines, which they believe can boost their position as a leading Pharma company in India.

Revenues (Crores INR): 3883

Profit (Crores INR): 1100

9. Glenmark Pharma

In 1977, Gracias Saldanha started the pharmaceutical company named Glenmark pharmaceuticals.


Image: company website

Headquartered in Mumbai, Glenmark managed to figure in the top 10 Pharma companies in India with a profit of 3808 crores last year. They have an employee strength of 12000 as their operations are spread all across the globe featuring in around 90 countries. In India, their facilities are placed in states like Maharashtra, Himachal Pradesh, Goa and Gujarat. The three verticals Glenmark mainly feature are:

Medicine Discovery- inflammation (Asthma and Arthritis), metabolic disorders (Diabetes and Obesity) and pain (Inflammatory and Neuropathic pain) are the key research areas and Glenmark has managed to be the front-runner in this bracket.

Formulation Business- This business majorly concentrates on areas such as Dermatology, Respiratory, Cardiac, Diabetes, Oncology and Gynecology where the growth prospect has been promising.

Glenmark Generics Ltd the subsidiary of Glenmark Pharmaceuticals emphases on significant niche sectors like Dermatology, Hormones, Oncology and modified products.

Glenmark is focused in the areas of oncology, respiratory disease, and dermatology and they have compounds in the different stages of development. The company initially entered the dermatology market with the product ‘Candid Cream’ which is in fact its key focus area even today. By 2005 it expanded front-end commercial sales in US.  Across five countries including U S, Argentina, Czech Republic and India Glenmark it has 17 manufacturing facilities and Glenmark has five research & development centers worldwide engaged in discovery of novel biological and chemical entities.

Revenues (Crores INR): 3808

Profit (Crores INR): 1223

8. Divis Lab

Established in 1990, Divis laborotary is a leading Indian Pharmaceutical Company which is oriented towards Research and Development as primary focus.


Image: company website

Starting from developing new processes for the production of Active Pharma Ingredients (API) and intermediates the company has expanded its breadth of operations within a short period of time. Even though research and development was the initial focus the company, after 5 years of establishment Divis Laboratories managed to open their first manufacturing facility in Hyderabad. The second one in was opened in Vishakhapatnam in 2002. Both the plants has a dedicated R&D center that focuses on developing alternative synthesis routes to realize non-infringement of patents and optimize products without compromising in the quality.

American and European market proves to their largest hubs for exports and has two operating subsidiaries for the same cause - Divis Laboratories (USA) and Divis Laboratories Europe AG.

R&D being their strength pumping in investments to boost the same has been their strategy to make it big and other fortes being their technology and Quality. Divis Labs was repeatedly awarded for their ideal practices and safety management systems.

As of now they are convoluted in the manufacture of Generic APIs and Intermediates, Custom Synthesis of APIs, building blocks for peptides & nucleotides, protected amino acids etc. The main aim of Divis Research Centre (DRC) is to develop and optimize commercially viable synthetic processes of APIs. In fiscal year 2016 they have achieved a revenue of 4084 Crores and net profit of 1115 crores indicating a growth of around 21% versus 2015.

Revenues (Crores INR): 4084

Profit (Crores INR): 1115

7. Torrent Pharma

This Ahmedabad Pharma Company, is a leading Company of the Torrent Groups.


Image: company website

Known as trinity laboratory Ltd initially, Torrent Pharmaceutical was established in 1959 when U N Mehta partnered with Samir Mehta. Torrent pharmaceuticals operates in more than 50 countries with 1000 product registrations globally. Torrent Pharma focuses on the therapeutic areas of Cardiovascular (CV), central nervous system (CNS), gastro-intestinal, diabetology, anti-infective and pain management segments. The therapeutic segments of nephrology and oncology are also forayed by it while also strengthening its focus on gynecology and pediatric segments. There are 7 fully owned subsidiaries to Torrent Pharma. Two of them operates in Germany and the others strategically operates in Brazil, Russia, U S, Philippines and Canada.

By discovering novel molecules and formulating unique therapeutic approaches Torrent research and development center is committed to innovation. Torrent R&D center is having around 660 scientists who are engaged in dedicating services in the area of discovery research ,generic medicine development and new medicine delivery systems/value added generics.

The two brands are widely prescribed by the practitioners and can add to the growth of the company many folds. The last financial year has been a steady growth phase for Torrent Pharmaceuticals as they managed to attain a revenue of 4513 crore INR and profits over 660 crore INR.

Revenues (Crores INR): 4513

Profit (Crores INR): 664

6. Cadila Healthcare

This Ahmedabad based pharmaceutical company with INR 4692 crores revenue is the sixth largest in India.


Image: company website

Spanning their customers in 85 countries around the world Cadila healthcare develops and manufactures pharmaceuticals solely operating in India. Ramanbhai Patel founded it in the year of 1952 which evolved into an established pharmaceutical company over the next four decades. A large number of pharmaceuticals as well as diagnostics, herbal products, skin care products and other OTC products are being developed and manufactured by Zydus Cadila. The company boast of many USFDA-certified products has a lineup of a wide variety of AIPs and intermediates. The company is exporting more than 38 AIPs and intermediates all over the world. An extensive range of finished dosage formulations are made to cover every aspect of human life by Cadila health care.

Quality Control & Analytical Research Laboratory which oversees and conforms the standards to an international level has aided and augmented the R&D to nourish effectively. It has four approved patents, these are on

1. Intravenous composition of Rabeprazole

2. Solid oral composition contain five actives in one capsule

3. Pharmaceutical composition of novel vaccine adjuvants and its method of treatment

4. New molecular entity on diabetes.

Revenues (Crores INR): 4692

Profit (Crores INR): 666

5. Dr Reddys Labs

It is another Hyderabad based pharmaceutical company founded in 1084 by Kallam Anji Reddy.


Image: company website

They produce an assorted range of products which factors 60+ APIs and about 190 medications, biotechnology products, diagnostic kits etc. Starting of as a supplier to Indian medicine manufacturers in 1980s, they expanded their business to the European continent by becoming one of the first Pharmaceutical companies to export to the Euro-minting nations. After a decade company began to focus on getting approvals for their manufacturing plants and APIs in more developed economies rather than less regulated markets. By 2007 Reddys lab had six plants for API manufacturing and 7 more plants making patient-ready medications and listed as one of the most trusted brands in 2014.As of now its big fish in the Pharmaceutical world having 9715 crore net revenue and 1343 crore net profit.

Reddys Lab is having a research foundation established in 1992 and set up an American laboratory in 2000 named as Reddy US Therapeutics Inc. (RUSTI) and is the only company to have significant R&D being undertaken overseas. Pressing their primary focus on discovering second generation medicines using genomics and proteomics they have invested a fortune in their R&D department which is concentrated offshore in the overseas facilities.

Revenues (Crores INR): 9715

Profit (Crores INR): 1343

4. CIPLA

CIPLA is one of the leading Indian multinational pharmaceutical company in India.


Image: company website

The company was founded in 1935 by Dr. K. A. Hamied as 'The Chemical, Industrial & Pharmaceutical Laboratories' with the vision to make India self-reliant in healthcare. Over past 82 years CIPLA has emerged as the 42nd largest publicly traded Indian company with its formulations sold in 170+ countries. It has its presence in countries including UK, Belgium and USA etc and is the largest pharmaceutical company in South Africa. CIPLA stands as one of the top 10 pharmaceutical companies with a revenue and profit of 11007 and 990 crores respectively. Cipla holds more than 100 patents and about 2000 world class medicines in multitude of therapeutic categories and in more than 60 dosage forms.

CIPLA has passed many milestones throughout its growth and given immense contributions to the medical world such as the first ever oral iron chelator, Deferiprone, and world's first transparent dry powder inhaler. Making ARVs available under a dollar to millions in need was noble and well-appreciated act performed by Cipla in 2001. In 2012 they made another medical breakthrough by providing low cost Oncology medicines and now they provides cancer medicine for Rs 6500 against 2.8 lakh charged by other MNCs. The last financial year has been a steady growth phase for CIPLA as they managed to attain a revenue of 11007 crore INR and profits over 990 crore INR.

Revenues (Crores INR): 11007

Profit (Crores INR): 990

3. Aurobindo Pharma

Aurobindo Pharma is a Hyderabad headquartered pharmaceutical company founded by Mr. P.V. Ramaprasad Reddy and Mr. K. Nityananda Reddy.


Image: company website

From initially manufacturing Semi-Synthetic Penicillin it has grown to a market leader with products marketed over 125 countries with presence in neurosciences, cardiovascular, anti-retrovirals, anti-diabetics, gastroenterology etc with more than 500 patents. Aurbindo is one of the few Active Pharmaceutical Ingredient (API) manufacturing companies vertically integrated with a presence in the API and Formulations segments and delivers innovative solutions. Being the largest generic portfolio in AntiRetro Virus (ARV) medicines Aurobindo aims to provide cost effective medicines to the millions of HIV patients in the underdeveloped countries. Their Research and Development center focused on developing low cost pharmaceuticals and makes use of in-house R&D to be the largest filer of Medicine Master Files (DMS) and Abbreviated New Medicine Applications (ANDAs) from India

Aurobindo Pharma stands third in India in terms of revenues with 11107 crores .They have managed to secure a net profit of 1813 crores this year.

Revenues (Crores INR): 11107

Profit (Crores INR): 1813

2.Lupin Ltd

Lupin Limited is 2nd largest Indian pharmaceutical company by revenue with 17460 crores just behind Sun Pharma.


Image: company website

It’s one of the famous manufacturers of cardiovascular prils and statins and is 6th largest pharmaceutical company globally by market capitalization. The organization based out of Mumbai was established by Desh Bandhu Gupta in 1968 with a dream to battle life-undermining illnesses and to make medications of the most elevated social need and went to the lead first when it wound up noticeably one of the world's biggest producers of tuberculosis medications. Today the company has largely recognized markets in areas such as Diabetology, Central Nervous System, Anti-infectives, and NSAIDs therapy segments and is the fifth-largest generic pharmaceutical company in the US.

Lupin Limited is strongly research focused company and has a program to develop New Chemical Entities. The R&D center in Pune is focusing on making Lupin limited a leading Pharma Company in the world by equipping it with more products to compete in the global level.

Some of the most appreciated products of Lupin limited would be  Anti-TB, Cephalosporins and Cardiovascular medicines. The other areas in which they are specializing are diabetes, anti-inflammatory and respiratory therapy. They further do research on Biotechnology  developing  a robust pipeline of biosimilars addressing therapies like Rheumatoid Arthritis,  Oncology,  Ophthalmology etc and recently commercialized two Oncology biosimilers (Lupifil and Lupifil-P)

Revenues (Crores INR): 17460

Profit (Crores INR): 2785

1. Sun Pharma

The homegrown Indian Pharmaceutical company headquartered in Mumbai, Maharashtra was founded by Sunil Shanghvi in 1983.


Image: company website

Sun Pharmaceuticals is the largest pharmaceutical company in India securing a revenue of 30868 crores and profit of 7465 in financial year 2015-16. From being established in 1983 with 5 psychiatry products with a two person marketing team, the company has a success story to boast of with 2000 pharmaceutical products, 50000+ employees and presence all over the leading markets. Sun Pharma offers large variety of products in Cardiology, Ophthalmology and Neurology etc. From initial products to treat psychiatry ailments, later it stated developing Cardiology and gastroenterology products in 1988 and these Cardiology products (Monotrate and Angizem) are sold still today. They also provide Active Pharmaceutical Ingredients (API), Peptides, Steroids, mainly marketed in India and US. Today more than 70% of the sales are from markets overseas and mainly US being the largest one with 50% turnover.

Sun Pharma is a pioneer in Indian Pharmaceutical industry having tremendous value in Research and development with a history of 30 years. Now they is having multiple R&D centers around the world with 2000 research scientists and invests 8% of its  revenue on research. Its R&D productivity ranks highest for the Indian generic companies. Sun pharma is one of the largest contributor to the BSE index they have continuously contributed more than 40% to the index gain.

Revenues (Crores INR): 30868

Profit (Crores INR): 7465


Ranking Methodology:

1. All the leading pharma companies in India were selected

2. Parameters like revenues and profits were selected for these companies

3. Weightages of 0.6 and 0.4 were given to revenues and profits respectively

4. Based on the total scores and final ranks are evaluated

This article has been researched & authored by the Content & Research Team. It has been reviewed & published by the MBA Skool Team. The content on MBA Skool has been created for educational & academic purpose only.

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