Top 10 Pharmaceutical Companies in India By Market Cap

Top 10 Pharma Companies in India 2024

The Pharma Industry in India is one of the important backbones of the Indian medical apparatus. The industry consists of various global and local players. It is rapidly expanding and has a significant influence in the international healthcare landscape, with numerous companies effectively contributing to its growth.

In this comprehensive study, we will explore the top 10 pharma companies in India by market capitalization and showcase their respective contributions to global health solutions through diverse areas of expertise.

Top 10 Pharmaceutical Companies in India

1. Sun Pharmaceutical Industries Ltd

Sun Pharmaceutical Industries Ltd
  • Revenue: ₹48,496 crore (as of 2024)
  • Net income: ₹9,576 crore  (as of 2024)
  • Number of employees: 36000

Sun Pharmaceutical Industries Ltd., which is now based in Mumbai, was established by Dilip Shanghvi in 1983 at Vapi, Gujarat. The medicines they create are used to treat mental health problems, kidney diseases, issues with gastroenterology and orthopedics.

They also produce drugs for taking care of eyesight troubles as well as heart-related difficulties among other areas in healthcare. This range of products demonstrates their extensive knowledge in various fields within the medical sector. With history of various famous acquisitions, for instance bought a subsidiary Taro Pharmaceuticals in January 2024 costing $347.73 million.

Being one among the top 10 Pharma companies in India and also having a workforce of about 38000 people, the Company holds 366,102.53 Crore in market capitalization as per June 2024. 

2. Divis Labs

Divis Labs
  • Revenue:  ₹9,073 crore   (as of 2024)
  • Net income: ₹2,960 crore   (as of 2024)
  • Number of employees: 17,000

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 121,713.36 Crore INR as per June 2024 records.

3. Cipla Ltd

Cipla Ltd
  • Revenue: ₹25,455 crore  (as of 2024)
  • Net income: ₹4,106 crore   (as of 2024)
  • Number of employees: 22,036

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 119,351.16 Crore market cap by June 2024. Being the Third largest drug producer in India.

4. Zydus Life

Zydus Life
  • Revenue: ₹19,547 crore   (as of 2024)
  • Net income: ₹3,873 crore    (as of 2024)
  • Number of employees: Approx 25,000 

Zydus Life, based in Ahmedabad, is known for their skills in generic drugs and biosimilars. They have a global importance because they deal with these specialities. The pharmaceutical 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 fourth-largest pharma company of India when we talk about market value which stands at 108,119.84 Crore INR.

5. Dr. Reddy’s Laboratories Ltd

Dr. Reddy's Laboratories Ltd
  • Revenue: ₹28,905 crore  (as of 2024)
  • Net income: ₹5,577 crore    (as of 2024)
  • Number of employees: 24,832

Dr.Reddys Labs, which is situated in Hyderabad, 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 106,748.49 Crore INR.

6. Torrent Pharma

Torrent Pharma
  • Revenue: ₹10,728 crore  (as of 2024)
  • Net income: ₹1,656 crore   (as of 2024)
  • Number of employees: range from 10,001 to 50,000

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 94,554.89 Crore INR in market cap as per June 2024.

7. Mankind Pharma

Mankind Pharma
  • Revenue: ₹10,335 crore   (as of 2024)
  • Net income: ₹1,942 crore    (as of 2024)
  • Number of employees: Approx 22,000

Mankind Pharma, which has its main office in Delhi, is ranked as the sixth biggest among top 10 pharma 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 June 2024 its market capitalization is currently at 85,235.13 Crore INR.

8. Lupin

  • Revenue: ₹19,656 crore   (as of 2024)
  • Net income: ₹1,914 crore    (as of 2024)
  • Number of employees: Approx more then 20,000

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 74,040.75 Crore INR, as of June 2024.

9. Aurobindo Pharma

Aurobindo Pharma
  • Revenue: ₹29,002 crore  (as of 2024)
  • Net income: ₹5,843 crore   (as of 2024)
  • Number of employees: range from 10,001 to 50,000 

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 70,734.51 Crore INR as of June 2024.

10. Alkem Laboratories

Alkem Laboratories
  • Revenue: 2,936 CR (as of 2024)
  • Net income: 304 CR (as of 2024)
  • Number of employees: More then 16,500

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 59,304.24 Crore INR according to the latest market in June 2024.


The top 10 pharma companies in India, from Dr. Reddy’s Labs to Sun Pharma, 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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