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20 Top Pharma Companies in India (2023)

This article is about the list of top pharma companies in India based on various factors but before that take a look at the Indian pharma sector.

India is the largest provider of generic drugs all over the world and is acclaimed for its affordable vaccines and medications. The Pharmaceutical industry of India is currently 3rd in pharmaceutical production by volume at a CAGR of 9.43% for the past nine years.

Generic drugs, bulk drugs, vaccines, over-the-counter medications, medical devices, and biologics are some of the major segments of the Indian pharma industry. Indian pharmaceutical sector supplies over 40% of the generic demand in the US, 50% of the global demand for various vaccines, and 25% of all medicine in the UK.

The domestic pharmaceutical industry includes a network of over 10,500 manufacturing units and 3,000 drug companies. India enjoys a crucial position in the global pharmaceuticals sector. The country also has a large pool of scientists and engineers with the potential to steer the industry ahead to greater heights. India is rightfully known as the “pharmacy of the world” due to the high quality of its medicines at low cost.

According to the Indian Economic Survey 2021, the domestic market is expected to grow 3x in the next decade. India’s domestic pharmaceutical market stood at US$ 42 billion in 2021 and is likely to reach US$ 65 billion by 2024 and further expand to reach US$ 120-130 billion by 2030.

20 Top Pharma Companies in India

The main aim of the companies is to provide reliable and quality medicines to users. Few companies have made their place in the top companies with their stellar performance. They include the following:

1. Sun Pharma

Sun Pharma - top pharma companies in india

Sun Pharma is undoubtedly one of the top pharma companies in India with headquarters in Mumbai, Maharashtra. As the first Indian pharmaceutical company to recognize and embrace the importance of investing in research, they support up to 7-8% of our global revenues in research and development (R&D) each year. From humble beginnings in 1983, Sun Pharma is the fifth largest specialty generic pharmaceutical company in the world and scores #1 weightage in Nifty Pharma Stock Weightage.

It provides high-quality, affordable medicines trusted by healthcare professionals and patients in many countries worldwide. It has an established presence in key high-growth Emerging Markets (EM) like Russia, Romania, South Africa, Brazil, and Malaysia. The core areas include CNS disorders, Cardiology, Diabetes, and Metabolic disorders, Gastroenterology, Ophthalmology, Oncology, Pain, Rheumatology, Allergy, Asthma and Inflammation, and Gynecology. Sun Pharma has currently a 35,000-employee workforce.


  • MARKET CAP: ₹ 2,41,744.99 Cr.
  • COMPANY VALUE: ₹ 2,46,078.74 Cr.
  • Nifty Pharma Weightage: 24.65
  • P/E: 166.26
  • DIVIDEND YIELD: 0.98 %
  • SALES GROWTH: 10.41%
  • ROE: -0.39 %
  • ROCE: 2.19%

2. Cipla

Cipla - top pharma companies in india

Cipla is one of the best pharmaceutical companies, commenced operations in 1935, is headquartered in Mumbai, India, and offers its products to over 85 countries worldwide. Cipla is a global pharmaceutical company focused on the sustainable growth of complex generics and deepening its portfolio in markets of India, South Africa, and North America, as well as key regulated and emerging markets. Equity Shares of the Company are listed on the BSE and NSE and hold #2 weightage in Nifty Pharma Stock Weightage

The company is in the business of manufacturing, developing, and marketing a wide range of branded and generic formulations and Active Pharmaceutical Ingredients (APIs). The company has a wide network of manufacturing, trading, and other incidental operations in India and International markets. Cipla leads the fight against COVID-19 through a spectrum of vital drugs that show potency against the virus. Cipla has one of the largest employee workforces of 23,847 among pharma companies.


  • MARKET CAP: ₹ 90,308.84 Cr.
  • COMPANY VALUE: ₹ 88,880.81 Cr.
  • Nifty Pharma Weightage: 14.17
  • P/E: 35.33
  • DIVIDEND YIELD: 0.44 %
  • SALES GROWTH: 15.83%
  • ROE: 12.70 %
  • ROCE: 16.84%

3. Dr. Reddy’s Laboratories

Dr. Reddy's - top pharma companies of india

Dr. Reddy’s Laboratories is another one of the top pharma companies in India, founded in 1984 by Kallam Anji Reddy with its headquarters in Hyderabad, India. Today it’s the trusted name in the healthcare industry consistently serving the needs of millions of patients with high-quality, affordable, and innovative medicines across therapy areas. 

Through its three businesses – Pharmaceutical Services and Active Ingredients, Proprietary Products, and Global Generics – the key areas of products and services, including Custom Pharmaceutical Services (CPS), Active Pharmaceutical Ingredients (APIs), Custom Pharmaceutical Services (CPS), generics, biosimilars, and differentiated formulations.


  • MARKET CAP: ₹ 73,467.34 Cr.
  • COMPANY VALUE: ₹ 73,642.24 Cr.
  • Nifty Pharma Weightage: 12.09
  • P/E: 30.91
  • DIVIDEND YIELD: 0.68 %
  • SALES GROWTH: 7.91%
  • ROE: 9.26 %
  • ROCE: 11.68%

4. Divi’s Lab

Divi's Lab - top pharma companies of india

Divi’s laboratories are one of the top multinational pharma companies in India, founded by Mr. Divi Murali Krishna Prasadoffering in 1990 offering high-quality products to over 95 countries. Divi’s lab currently operates in Hyderabad and Visakhapatnam in India. Divi’s Labs manufactures Generic APIs, Nutraceutical Ingredients and offers Custom Synthesis of APIs to Big Pharma.

Divi’s is a leading manufacturer of APIs (Active Pharmaceutical Ingredients), intermediates, and registered starting materials, providing quality products with the highest levels of compliance and integrity in over 100 countries. Approximately 17000 highly qualified professionals and nearly 400 scientists across all departments work together to deliver world-class products to our customers.


  • MARKET CAP: ₹ 87,771.88 Cr.
  • COMPANY VALUE: ₹ 84,968.20 Cr.
  • Nifty Pharma Weightage: 10.32
  • P/E: 29.57
  • DIVIDEND YIELD: 0.92 %
  • SALES GROWTH: 30.61%
  • ROE: 28.13 %
  • ROCE: 35.09%

5. Torrent Pharma

Torrent Pharma - top pharmaceutical companies

Torrent Pharma is one of the leading pharma companies in India, founded by U. N. Mehta in 1959 with a turnover of over 8,508/- Cr. Today ranked among the leaders in the therapeutic segment across various fields of healthcare. Competitive advantage stems from its world-class manufacturing facilities, advanced R&D capabilities, extensive domestic network, and extensive global presence in over 40 countries.

Torrent Pharmaceuticals has established itself as a major player in the Indian Pharma arena with marketing divisions in the therapeutic segment of cardiovascular (CV), central nervous system (CNS), gastrointestinal (GI), and women’s healthcare (WHC). The company’s manufacturing facilities are located at Indrad, Dahej, Baddi, Sikkim Unit I & II, Sikkim Unit III, Vizag, Pithampur, Levittown Pennsylvania, and HSE Forum


  • MARKET CAP: ₹ 55,637.05 Cr.
  • COMPANY VALUE: ₹ 58,911 Cr.
  • P/E: 56.2
  • DIVIDEND YIELD: 1.46 %
  • SALES GROWTH: 4.52%
  • ROE: 16.02 %
  • ROCE: 16.94%

6. Zydus Lifesciences (Cadila Healthcare)

Zydus - top pharma companies of india

Zydus Lifesciences (formally known as Cadila) is one of the top pharma companies in India headquartered in Ahmedabad, founded by Mr. Ramanbhai Patel in 1952. Zydus has been impacting over 25,000 lives across 4 continents. Zydus’ global business has a strong presence in the US, regulated markets in Europe (France and Spain), and high-profile markets in Latin America and South Africa.

It also has a significant presence in 25 emerging markets around the world. Zydus’ innovation program is led by 1,400 researchers at 19 sites working on differentiated medicines of the future. As a leading pharmaceutical player, the key business areas include formulations, APIs, vaccines, biosimilars, complex products (transdermal, topical, etc.), and animal health and wellness products.


  • MARKET CAP: ₹ 42,006.47 Cr.
  • COMPANY VALUE: ₹ 44,366.47 Cr.
  • P/E: 34.25
  • SALES GROWTH: 2.60%
  • ROE: 6.60 %
  • ROCE: 7.98%

7. Abbott India

Abbott - top pharma companies in india

Headquartered in Mumbai, Abbott India Limited, a public company and a subsidiary of Abbott Laboratories, provides high-quality medicine across multiple therapeutic categories including women’s health, gastroenterology, cardiology, metabolic diseases, and primary care.

Abbott has been committed to helping people in India live healthier lives through a  range of science-based nutritional products, diagnostic tools, branded generics, diabetes, and vascular devices.


  • MARKET CAP: ₹ 41,684.76 Cr.
  • COMPANY VALUE: ₹ 38,935.54 Cr.
  • P/E: 47.27
  • DIVIDEND YIELD: 1.38 %
  • SALES GROWTH: 14.14%
  • ROE: 29.95 %
  • ROCE: 40.53%

8. Alkem Laboratories

Alkem - top pharmaceutical companies

Alkem laboratories limited is another one of the top pharma companies in India, headquartered in Mumbai, Maharastra. The company was founded by Mr. Samprada Singh in 1973 and its products are marketed in about 50 international markets. Alkem has been a reliable source of apex-quality generic products, branded generics, specialty products, active pharmaceutical ingredients, and nutraceuticals.

Their intellectual property team includes strong expertise and extensive experience in chemistry, analytical techniques, dosage forms, and global patent law. Over the past decade, they have consistently challenged several high-value product patents in the United States using our first-of-its-kind monopoly under the Hatch-Waxman Act.


  • MARKET CAP: ₹ 37,930.80 Cr.
  • COMPANY VALUE: ₹ 37,879.11 Cr.
  • P/E: 37.75
  • DIVIDEND YIELD: 1.08 %
  • SALES GROWTH: 22.30%
  • ROE: 18.83 %
  • ROCE: 17.96%

9. Lupin

Lupin - top pharma companies of india

Lupin was founded on the auspicious ‘Guddi padwa’ Day in 1968 by Dr. Desh Bandhu Gupta. Lupin is one of the top pharma companies in India by revenue. The company is situated in additional 100 countries, together with over 14 global facilities, over 7 research and development centers, and lots more. Lupin has expanded and grown manifold since its inception.

This vision is the result of their research with more than 1,500 scientists in the seven research centers spread across five countries: India (Pune and Aurangabad), the United States (New Jersey and Florida), Mexico, Brazil, and the Netherlands. Lupin’s R&D team leverages cutting-edge technology, superior skills, and strategic partnerships to deliver unique solutions.


  • MARKET CAP: ₹ 34,117.80 Cr.
  • COMPANY VALUE: ₹ 34,843.71 Cr.
  • P/E: 44.87
  • DIVIDEND YIELD: 0.53 %
  • SALES GROWTH: 6.47%
  • ROE: -1.04 %
  • ROCE: -0.47%

10. Biocon

Biocon - top pharmaceutical companies

Biocon is one of the best biopharmaceutical companies based in Bangalore, India. It was founded by Kiran Mazumdar Shaw in 1978. They are a world entity changing patients’ lives in over 120 countries. They pledge to seek out advanced and affordable ways to treat diabetes, cancer, and autoimmune diseases.

Biocon has made it absolute to deliver extremely quality-assured products across all healthcare units. With research and development focused on prevention, alleviation, and cure, medicines improve the lives of millions of patients in more than 120 countries by providing access to life-saving treatments and relief.


  • MARKET CAP: ₹ 33,982.98 Cr.
  • COMPANY VALUE: ₹ 33,369.58 Cr.
  • P/E: 31.88
  • DIVIDEND YIELD: 0.17 %
  • SALES GROWTH: -14.31%
  • ROE: 1.09 %
  • ROCE: 1.74%

11. Aurobindo Pharma

Aurobindo Pharma - top pharma companies in india

Aurobindo Pharma is an Indian pharmaceutical company founded in 1986 by Mr. P. V. Ramprasad Reddy, Mr. K. Nityananda Reddy, and a small group of highly committed professionals. Its strength lies in large manufacturing facilities approved by huge regulatory bodies, an excellent talent pool of over 500 dedicated scientists, and over 180 patent applications.

The merchandise range covers several pharmacological categories with special targets for anti-retroviral, anti-biotic, CNS, and CVS drugs. Aurobindo Pharma is one of the top two companies in India by consolidated revenue. Aurobindo exports to over 155 countries worldwide, with over 90% of its revenue coming from international trade.


  • MARKET CAP: ₹ 28,705.13 Cr.
  • COMPANY VALUE: ₹ 30,472.97 Cr.
  • P/E: 21.6
  • DIVIDEND YIELD: 1.85 %
  • SALES GROWTH: -28.67%
  • ROE: 8.81 %
  • ROCE: 8.52%

12. Laurus Lab

Laurus Labs - top pharma companies in india

Laurus is undoubtedly one of the top pharma companies in India founded by Mr. Dr.Satyanarayana Chava in 2005 with headquarters in Visakhapatnam, India. The company consists of a healthy mixture of pharmaceutical and biotechnology industry veterans, research scientists, and manufacturing and management companies.

They have managed to develop innovative medicines that greatly improve health outcomes for patients with an unremitting specialization in quality and affordability. Laurus work with all the highest 10 generic pharmaceutical companies in the world. They sell APIs in 56 countries. Major focus areas include anti-retroviral, hepatitis C and Oncology drugs.


  • MARKET CAP: ₹ 25,255.89 Cr.
  • COMPANY VALUE: ₹ 26,834.99 Cr.
  • P/E: 31.99
  • DIVIDEND YIELD: 0.43 %
  • SALES GROWTH: -1.29%
  • ROE: 24.65 %
  • ROCE: 23.52%

13. Glenmark Pharma

Glenmark Pharma - top pharmaceutical companies

Glenmark pharmaceuticals is a renowned pharma company in India, founded in 1977 by Gracias Saldanha with headquarters in Mumbai, India. They need to be recognized for being quality drug producers. Local offices of Glenmark have situated in around 50 countries. India is the largest market in terms of revenue for the organization. The formulations business has five manufacturing facilities; three in India and two overseas.

With 10 manufacturing sites and 3 R&D centers, the formulations business focuses on therapeutic areas viz. dermatology, anti-infective, respiratory, cardiac, diabetes, gynecology, CNS, and oncology. Glenmark has a dedicated workforce of over 60 nationalities to generics business and a strong presence in emerging markets, including India.


  • MARKET CAP: ₹ 12,229.17 Cr.
  • COMPANY VALUE: ₹ 15,869.88 Cr.
  • P/E: 7.32
  • DIVIDEND YIELD: 0.58 %
  • SALES GROWTH: 7.58%
  • ROE: 12.67 %
  • ROCE: 13.25%

14. Piramal

Piramal - top pharma companies in india

Piramal Group is one of the top pharma companies in India with offices in over 30 countries, founded by Mr. Ajay Piramal in 1984. The brand presence in over 100 global markets and a team of over 10,000 people from 21 diverse nations have made Piramal pharmaceuticals a top-notch company.

Piramal’s complex hospital product portfolio includes inhaled anesthetics, intrathecal therapies for the treatment of spasticity and pain, injectable pain and anesthetics, injectable anti-infectives, and other therapies.


  • MARKET CAP: ₹ 16,593.09 Cr.
  • COMPANY VALUE: ₹ 17,604.35 Cr.
  • P/E: 48.37
  • DIVIDEND YIELD: 0.29 %

15. Alembic Pharmaceuticals

Alembic - top pharma companies in india

Alembic Pharmaceuticals Limited is one of the top pharma companies in India that manufactures and markets Indian formulations, International Generics, and Active Pharmaceutical Ingredients (APIs) across the world. Their excellent team of researchers and drug developers is what makes their formulations impactful and safe for patients and healthcare professionals.

A journey that began with the production of tinctures, alcohols, vitamins, and penicillins has now grown into a sprawling conglomerate with interests in pharmaceuticals, healthcare, real estate, engineering, specialty chemicals, and glassware.


  • MARKET CAP: ₹ 12,713.70 Cr.
  • COMPANY VALUE: ₹ 13,321.80 Cr.
  • P/E: 19.15
  • DIVIDEND YIELD: 1.54 %
  • SALES GROWTH: -0.62%
  • ROE: 10.46 %
  • ROCE: 11.72%

16. Apollo Pharmacy

Apollo Pharmacy - pharmaceutical brands

Apollo pharmacy is a part of Apollo hospital and is a renowned company with highly reliable products. India’s first and largest branded pharmacy network was founded by Prathap C. Reddy in 1983, with more than 4,500 outlets in major locations. The most reason the corporate is growing day by day is due to its excellent 24-hour customer care service and professionalism.

They have a team of qualified and highly competent staff to cater to your needs! Ordering medicines from Apollo Pharmacy not only ensure that your medicines are delivered to your door on time but also gives you additional benefits. Earn Apollo Health Credits when you order medicines or purchase other non-pharmaceutical products online.


  • MARKET CAP: ₹ 66,011.54 Cr.
  • COMPANY VALUE: ₹ 67,478.84 Cr.
  • P/E: 70.49
  • DIVIDEND YIELD: 0.26 %
  • SALES GROWTH: 31.04%
  • ROE: 10.12 %
  • ROCE: 14.04%

17. Emcure

Emcure - top pharmaceutical companies

Emcure Pharma is a leading Indian pharma company founded by Satish Mehta in 1983 with headquarters in Pune, India. Emcure’s products range from chronic to sub-chronic focus diseases covering all the foremost therapies.

Emcure has become the market leader in areas like women’s health, blood-related health issues, HIV, anti-infectives, cardiac, and vitamins. Emcure Pharma is known to deliver safe products with the utmost integrity. Delivering value and superior results in line with evolving patient needs.

18. Intas Pharma

Intas - pharmaceutical brands

Intas is one of the top pharma companies in India in India, headquartered in Ahmedabad, Gujarat, and founded by Hasmukh Chudgar in 1977. Intas is trusted by healthcare professionals in addition in more than 85 countries across the world products are manufactured in facilities that are approved by major global regulatory bodies, including the USFDA, MHRA, EMA, TGA, MCC, ANVISA, and more.

Led by a strong pool of over 550 scientists and researchers, R&D is a key growth driver for Intas. To date, Intas has applied for over 50 patents covering new formulations, API polymorphs/processes, and analytical methods.

19. Innovexia

Innovexia - top pharma companies in india

Innovexia is a renowned company in the manufacturing of pharmaceutical medicines and injections. The corporate was established in the year 2011 and provides pharma franchise services in cities like Aurangabad and states like Uttar Pradesh. They have a skilled team of researchers and factory workers that ensure the formulation of their products is scientifically safe and practically accurate.

20. Mankind

Mankind - top pharma companies in india

Mankind pharma is one of the top pharma companies in India dominating the market since its inception in 1986 and it started fully functioning as an organization in 1995. R. C. Juneja founded mankind, and the headquarter is situated in Delhi, India.

It has a presence in 34 nations worldwide. They develop superior quality products at affordable prices catering to streams like Gynecology, Neurology, Cardiology, Gastroenterology, Dermatology, Diabetology, Pulmonology, Opthalmology, and lots more.

21. Biophar

Biophar Lifesciences is Chandigarh-based pharma dealing in pharmaceutical manufacturing & PCD Pharma Franchise Business. They manufacture and provide a plethora of qualitative range of export like Injectables, Capsules, Tablets, Softgel Capsules, Dry Syrup, Eye Drops, Lotion, Betalactum Products, General Products, Nutraceuticals, and more. They are known to deliver quality drugs with accurate research backing the same.

What are the Top Pharmaceutical Companies in India?

The top 10 pharma companies in India are Sun Pharma, Cipla, Divi’s Lab, Dr. Reddy’s Lab and Torrent Pharma, Zydus, Abbott, Alkem Lab, Lupin, and Biocon.

The pharmaceutical industry not only drives medical progress by discovering, developing, and bringing to market new medicines that improve the health and quality of life of patients around the world but is also an important component of the global economy.

Overall, pharmaceutical companies play a pivotal role in helping patients and communities. Looking to the future, the industry will continue to strengthen its importance in the world by developing more exciting and groundbreaking remedies.

Aditya Goyal
Aditya Goyal

Author, Researcher, and SEO Expert with over 6 years of experience in Writing Content on Money Making Ideas, Startup Resources, and Business Growth. With a background in Marketing and Operations, I love to help individuals/businesses to create their own success stories.

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