The Indian Pharmaceutical companies are growing unprecedentedly and showing their significant presence in the global market. India is the largest provider of generic drugs globally. Indian pharmaceutical sector supplies over 50% of global demand for various vaccines, 40% of generic demand in the US, and 25% of all medicine in the UK. The country also has a large pool of scientists and engineers with the potential to steer the industry ahead to greater heights. Presently, over 80% of the antiretroviral drugs used globally to combat AIDS (Acquired Immune Deficiency Syndrome) are supplied by Indian pharmaceutical firms.
According to the Indian Economic Survey 2021, the domestic market is expected to grow 3x in the next decade. As a result, India’s domestic pharmaceutical market is estimated at US$ 42 billion in 2021 and likely to reach US$ 65 billion by 2024 and further expand to reach US$ 120-130 billion by 2030.
With a strong network of 3000 drug companies and about 10,500 manufacturing units, the Indian pharmaceutical industry production ranks 3rd worldwide by volume and 14th by value. Out of these units, the following are the approvals received from regulatory authorities until now.
- More than 2,000 units are World Health Organization (WHO) good manufacturing practice (GMP) approved
- 253 are European Directorate of Quality Medicines (EDQM)-approved plants
- 1,105 have Europe’s Certificate of Suitability (CEPs)
- More than 950 match therapeutic goods administration (TGA) guidelines
- 584 sites are approved by the US Food and Drug Administration (US FDA)
More than 20000 Pharma companies are manufacturing their products in different states. Major pharmaceutical hubs in India are (clockwise from the northwest): Vadodara, Ahmedabad, Ankleshwar (Gujarat), Vapi (Gujarat), Baddi (Himachal Pradesh), Sikkim, Kolkata, Visakhapatnam, Hyderabad, Bangalore, Chennai, Mumbai, Pune, and Aurangabad. Let us go through the Top 10 Indian Pharmaceutical Companies as per market capitalization as of August 2021.
1. Sun Pharmaceutical Industries: Rs 182,469 crores
Sun Pharmaceutical Industries Ltd. (Sun Pharma) is the fourth largest specialty generic pharmaceutical company globally, supported by more than 40 manufacturing facilities.
2. Divi’s Laboratories: Rs 128,794 crores
Divi is the leading manufacturer of APIs, Intermediates, and Registered starting materials, offering high-quality products with the highest level of compliance and integrity to over 95 countries.
3. Dr. Reddy’s Laboratories: Rs 75,113 crores
Dr. Reddy’s Laboratories was established in 1984. They offer more than 200 high-quality generic versions of expensive innovator medicines in over 80 countries worldwide.
4. Cipla: Rs 73,042 crores
Cipla has a presence in 80 plus countries providing over 1,500 products across various therapeutic categories in 50 plus dosage forms.
5. Gland Pharma: Rs 64,163 crores
Gland Pharma was established in Hyderabad in 1978. They have a global footprint across 60 countries, including the United States, Europe, Canada, Australia, India, and other markets.
6. Cadila Healthcare: Rs 55,727 crores
Cadila Healthcare, also known as Zydus Cadila, an Indian Pharmaceutical company, is headquartered in Ahmedabad. From a humble turnover of Rs. 250 crores in 1995 the group witnessed significant financial growth and registered a turnover of over Rs. 15,000 crores in FY-21.
7. Torrent Pharmaceuticals: Rs 51,927 crores
Torrent Pharma is one of the leading pharma companies in the Country. The Company is ranked amongst the leaders in the therapeutic segment of cardiovascular (CV), central nervous system (CNS), gastrointestinal (GI), and women healthcare (WHC).
8. Alkem Laboratories: Rs 45,759 crores
Alkem Laboratories is one of India’s largest generic pharmaceutical companies and has a foothold in over 50 countries. It has 20 manufacturing facilities at multiple India and the United States of America locations.
9. Lupin: Rs 41,917 crores
Lupin employs 20,000+ members in 11 countries across six continents, enabling safe and reliable delivery of medicines to their patients across 100+ countries.
10. Aurbindo Pharma: Rs 39,328 crores
Aurobindo Pharma features among India’s top 2 pharmaceutical companies in consolidated revenues. Aurobindo exports to over 150 countries across the globe, with around 90% of revenues derived from international operations.
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