Top 10 Largest Pharmaceutical Companies in India 2024

India is also known as the Pharmacy of the world. It is so because India is one of the leading exports of pharmaceutical products in the world. Last year, India exported the pharmacy worth $20 billion which is a record in itself. The reason why India is doing so well in this industry is the presence of top pharma companies in India that manufacture medicines of the finest quality. Apart from medicines, India fulfills 50% of the vaccine demand of the world. In this post, we are going to list the top 10 pharma company in India in 2024 on the basis of total net sales.

List of 10 best Pharmaceutical Companies in India 2024

Please note that we are ranking these top 10 Pharmaceutical companies in India on the basis of their total sales in the previous year.

10 Divi’s Laboratories Ltd.

Market Cap: 57,919 Cr.
ROE: 21.01 %
Sales Growth (3Yrs): 9.41 %
Promoter holding: 52.00 %
Debt to equity: 0.00
Price to book value: 8.18
Revenue in the year 2022 – ₹9,073 crore (US$1.1 billion)
Founded – 1990
Headquarters – 1-72/23(P)/DIVIS/303, Divi Towers Cyber Hills, Gachibowli 500032, Hyderabad, Telangana, India
Products – Naproxen, Gabapentin, Dextromethorphan HBr
Key People – Murali Krishna Prasad Divi (MD), Satchandra Kiran Divi (CEO)

Established in the year 1990, Divi’s Laboratories is one of the most renowned pharmaceutical manufacturers in India. Early, the company was named Divi’s Research Centre. Currently, the company has six manufacturing facilities and three R&D centres across India. The main products developed by Divi’s Laboratories are Naproxen, Gabapentin, Dextromethorphan Hbr. There are 350 scientists and 11000 highly trained professionals working at Divi Laboratories. The revenue collected by the company in 2022 is around 9,073 crore (US$1.1 billion).

9 Alkem Laboratories Ltd.

Market Cap: 30,691 Cr.
ROE: 14.84 %
Sales Growth (3Yrs): 14.47 %
Promoter holding: 66.04 %
Debt to equity: 0.24
Price to book value: 5.22
Revenue in the year 2022 – ₹10,634.1 crore (US$1.3 billion)
Founded – 1973
Headquarters – Mumbai, Maharashtra, India
Products – Pharmaceuticals, generic drugs, over-the-counter drugs, vaccines, diagnostics, contact lenses, animal health
Key People – Basudeo Narayan Singh (Executive Chairman), Sandeep Singh (MD)

Alkem Laboratories Limited is one the leading pharmaceutical companies As of now, Alkem has 21 manufacturing facilities – 19 in India and 2 in the United States. In the year 2022, the company gathered huge revenue of Rs. 10,634.1 crore. The portfolio of Alkem includes 705 branded generic drugs, with 13 of the brands featured among the top 300 brands in India. The founder of Alkem Laboratories was Mr. Samprada Singh. He was the 42^nd richest person in India. The executive chairman of the company was Mr. Basudeo Narayan Singh. Right now, there are over 15000 employees working for the company.

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8 Torrent Pharmaceutical Ltd.

Market Cap: 35,530 Cr.
ROE: 12.75 %
Sales Growth (3Yrs): 4.69 %
Promoter holding: 71.25 %
Debt to equity: 0.85
Price to book value: 7.00
Revenue in FY23 – ₹9,620 crore (US$1.2 billion)
Founded – 1959
Headquarters – Ahmedabad, India
Products – Pharmaceuticals, generic drugs, over-the-counter, drugs, vaccines, diagnostics, contact lenses, animal health
Key People – Sudhir Mehta, Samir Mehta

Torrent Pharmaceutical Ltd. is a part of Torrent Group. It is a billion-dollar company renowned not only in India but also around the world. It is a highly reputed company that is working in more than 40 countries selling over 2000 globally registered products. The fully owned subsidiaries of Torrent Pharmaceutical Ltd. are Heumann Pharma GmbH & Co Generica KG, Germany, Torrent Pharma GmbH, Germany, Torrent do Brasil Ltda., Brazil, ZAO Torrent Pharma, Russia, Torrent Pharma Inc., United States, Torrent Pharma Philippines Inc., Philippines, Torrent Pharma Canada Inc., Canada, Torrent Pharma UK United Kingdom.

7 Glenmark Pharmaceutical Ltd.

Market Cap: 7,505 Cr.
ROE: 15.20 %
Sales Growth (3Yrs): 9.27 %
Promoter holding: 46.59 %
Debt to equity: 0.60
Price to book value: 1.27
Revenue in the year 2020 – Rs. 23,447.87 Mn. (USD 311.03 Mn.)
Founded – 1977
Headquarters – Mumbai
Products – Innovative/ Specialty, Generics and OTC business in the therapy areas of Dermatology, Respiratory and Oncology.
Key People – Mr. Yasir Rawjee.

Founded in the year 1977 by Gracias Saldanha, Glenmark Pharmaceutical Ltd. is also a reputed name in the field of pharmacy. In the year 2020, the company gained a lot of fame when it released a potential COVID-19 drug Favipiravir under the brand name FabiFlu in India. Currently, the company is also working on the advanced version of FabiFlu. The founder of Glenmark Pharmaceutical Ltd. is one of the richest persons in India. TheMD and Chairman of this company is Glenn Saldanha.

6 Zydus Lifesciences

Market Cap: 26,228 Cr.
ROE: 18.66 %
Sales Growth (3Yrs): 11.78 %
Promoter holding: 74.88 %
Debt to equity: 0.69
Price to book value: 2.55
Revenue in FY23 – ₹17,273 crore (US$2.2 billion)
Founded – 1952 (69 years ago)
Headquarters – Ahmedabad, Gujarat, India
Products – Pharmaceuticals, generic drugs, over-the-counter drugs, vaccines, diagnostics, contact lenses, animal health
Key People – Pankaj R. Patel, Chairman, Sharvil P. Patel, MD

Ahmedabad-based, Zydus Cadila Healthcare Ltd. is also one of the biggest and oldest pharma companies in India. It was established in the year 1952 by Mr. Ramanbhai Patel. Along with the pharma products, Zydus Cadila is also instrumental in the manufacturing of herbal products, skincare products, and other OTC products. There are three main manufacturing plants of Zydus Cadila i.e. Ankleshwar plants, Vadodara plant, and Patalganga plant. Soon, the company is going to launch its covid – 19 vaccine by the name ZyCoV-D.

5 Dr. Reddy’s Laboratories Ltd.

Market Cap: 50,867 Cr.
ROE: 13.61 %
Sales Growth (3Yrs): -0.26 %
Promoter holding: 26.76 %
Debt to equity: 0.17
Price to book value: 3.30
Revenue in the year 2023 – 25,725 crore (US$3.2 billion)
Founded – 1984
Headquarters – Hyderabad, Telangana, India
Products – Pharmaceuticals, generic drugs, over-the-counter drugs, vaccines, diagnostics, contact lenses, animal health
Key People – V. Prasad (Co-Chairman & MD), Kallam Satish Reddy (Chairman), Erez Israeli (CEO)

Hyderabad, Telangana, based Dr. Reddy’s Laboratories Ltd. is also one of the pharmaceutical giants in the world. As of 2024, there are more than 21, 000 employees working for this company. Dr. Reddy’s pharma company was launched in 1984 producing active pharma products. In March 2002, Dr. Reddy’s acquired Beverley, BMS Laboratories, and its wholly-owned subsidiary Meridian Healthcare, for 14.81 million Euros. The deal makes Dr. Reddy one of the biggest pharma companies in the world. Dr. Reddy is also famous for launching “Purple Health” in India, it is a patient-centric platform to deliver solutions that address the unmet needs of patients.

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4 Cipla

Market Cap: 34,358 Cr.
ROE: 9.62 %
Sales Growth (3Yrs): 5.87 %
Promoter holding: 36.65 %
Debt to equity: 0.23
Price to book value: 2.20
Revenue in the year FY23 -22,753 crore (US$2.8 billion)
Founded – 1935
Headquarters – Mumbai, Maharashtra
Products – Pharmaceuticals and diagnostics
Key People – Y. K. Hamied (Chairman), Umang Vohra (CEO)

Cipla is a well-known name in the world of pharmacy. It primarily develops medicines to treat respiratory, cardiovascular disease, arthritis, diabetes, weight control, and depression; other medical problems. The main goal of Cipla is to make sure that no patient is denied access to high-quality & affordable medicine and support. This company was founded in the year 2002 as Enaleni Pharmaceuticals Ltd. Later on, the company acquired Cipla – Medpro a South African generic company.

3 Lupin Pharmaceutical Ltd.

Market Cap: 29,497 Cr.
ROE: 5.38 %
Sales Growth (3Yrs): 5.46 %
Promoter holding: 46.93 %
Debt to equity: 0.64
Price to book value: 2.17
Revenue in the year 2023 – ₹16,715 crore (US$2.1 billion)
Founded – Desh Bandhu Gupta
Headquarters – Mumbai, Maharashtra, India
Products – Pharmaceuticals, generic drugs, over-the-counter drugs, vaccines, diagnostics, contact lenses, animal health
Key People – Vinita D. Gupta (CEO), Nilesh Gupta (MD)

The Founder of Lupin Pharmaceutical Ltd. is Mr. Desh Bandhu Gupta, who launched this company in the year 1968. Currently, the company sells high-quality pharma products to more than 70 companies. Lupin Pharmaceutical Ltd. has a stronghold in markets like the USA, Europe, Japan, Australia along with emerging markets including India, Philippines, and South Africa. Apart from this, the company is also involved in many social welfare programs such as Lupin Human Welfare & Research Foundation (LHWRF).

2 Aurobindo Pharma Ltd.

Market Cap: 27,615 Cr.
ROE: 19.01 %
Sales Growth (3Yrs): 12.41 %
Promoter holding: 51.87 %
Debt to equity: 0.37
Price to book value: 1.82
Revenue in the year 2020 – ₹23,290 crores (US$2.9 billion)
Founded – 1986
Headquarters – Hyderabad, Telangana, India
Products – Pharmaceuticals, generic drugs, over-the-counter drugs, vaccines, diagnostics, contact lenses, animal health.
Key People – V. Ramprasad Reddy, K. Nityananda Reddy

Established in the year 1988-89 with a single unit manufacturing semi-synthetic penicillin (SSP) in Puducherry, Aurobindo Pharma is a public company. According to many experts, Aurobindo Pharma is amongst the top 10 pharma companies in India in terms of consolidated revenues. Right now, the products of this company are exported to more than 125 countries. The marketing partners of Aurobindo Pharma include AstraZeneca and Pfizer.

1 Sun Pharmaceutical Industries Ltd.

Market Cap: 94,378 Cr.
ROE: 9.19 %
Sales Growth (3Yrs): 0.67 %
Promoter holding: 54.56 %
Debt to equity: 0.25
Price to book value: 2.28
Revenue in the year 2023 – ₹44,520 crore (US$5.6 billion)
Founded – 1983
Headquarters – Mumbai, Maharashtra, India
Products – Pharmaceuticals, generic drugs, over-the-counter drugs, vaccines, diagnostics, contact lenses, animal health
Key People – Dilip Shanghvi (CEO)

Sun Pharmaceuticals was founded rather modestly by Dilip Shanghvi in the year 1983. As per a report published in the year 2014, Sun pharma is the largest Pharma company in India and the 5^th largest specialty generic company globally. Currently, Sun is the third-largest producer in the world in terms of volume. In a report published by BlueBytes, Sun Pharma is the second Most reputed brand in India. Due to all these reasons, we can say Sun Pharmaceutical is the best Pharma Company in India.