India’s Top 25 Pharma Companies by Revenue in 2025: Unveiling the Giants of the Pharmaceutical Industry

1) Sun Pharma

Sun Pharma, topping the list of India’s highest-grossing pharma companies in 2025, has delivered a robust financial performance throughout the year. With a focus on both specialty and generic products, the company reported a significant 3rd quarter revenue of ₹13,675.4 crores. Notably, their operations in the US market contributed significantly, generating $474 million (about ₹4063.41 crores), showcasing a nice year-on-year growth.

Research and development continue to be a cornerstone of Sun Pharma’s strategy, with multiple new molecules being tested for various conditions, including diabetes and skin cancer. This investment in innovation positions the company to enhance its future product offerings.

The company’s success in the Indian market is particularly notable, with a substantial portion of their revenue derived from domestic sales, indicating strong local demand. The overall positive outlook from analysts suggests that Sun Pharma’s focus on both the Indian and international markets will likely sustain their growth and profitability in the foreseeable future.

2) Dr. Reddy’s Labs

Dr. Reddy’s Laboratories, a significant player in the Indian pharmaceutical landscape, reported a total revenue of Rs. ₹31,229.30 crore in fiscal year 2025. The company experienced moderate growth this year, fueled by strategic pricing, innovative product launches, and an impactful presence in emerging markets. Dr. Reddy’s Labs also focused on enhancing its research and development activities, leading to new opportunities in both small molecules and biosimilars. Their financial stability is reflected in their consistent investment in technology and global expansion efforts​ (Business Wire)​.

3) Aurobindo Pharma

Aurobindo Pharma, headquartered in Hyderabad, is a prominent player in the Indian pharmaceutical sector. For fiscal year 2025, Aurobindo Pharma’s net sales stood at ₹30,921.76 crore. The company has shown a commendable performance, maintaining a significant presence both in the domestic and international markets.

Aurobindo Pharma specializes in producing generic pharmaceuticals and active pharmaceutical ingredients (APIs), catering to various therapeutic categories such as neurosciences, cardiovascular, antiretrovirals, antibiotics, and gastroenterology. The company’s robust product portfolio supports its strong position in the competitive pharmaceutical landscape.

Over recent quarters, Aurobindo Pharma has demonstrated substantial financial growth. In the third quarter of FY 2025, the company’s revenue witnessed a 15.61% increase compared to the same period last year, reaching ₹7,514.30 crore. Moreover, their net profit surged by 90.59% to ₹936.29 crore during the same quarter.

Aurobindo’s consistent focus on expanding its global footprint and enhancing its manufacturing capabilities has played a crucial role in its growth trajectory, solidifying its rank among the top pharma companies in India.

4) Cipla

Cipla continues to stand out in India’s pharmaceutical industry with strong financial performance in fiscal year 2025, maintaining its position as one of the top companies in the sector. The company reported substantial revenue growth, supported by robust sales across its branded prescription, trade generics, and consumer health segments. Notably, Cipla’s strategic initiatives in the US market and new product launches have significantly contributed to this growth.

Cipla’s commitment to R&D has been a major focus, driving the introduction of new products and enhancing its market competitiveness. The company has also shown strong performance in emerging markets, further solidifying its position as a global pharmaceutical leader. This comprehensive approach to growth in various sectors of the pharmaceutical market underscores Cipla’s ongoing dedication to innovation and expansion.

5) Zydus Life

Zydus Life, previously known as Zydus Cadila, has shown impressive performance in the fiscal year 2025, particularly in its India and US markets. The company’s consolidated revenues in the third quarter of FY 2025 reached ₹52,691 million, marking a 17% growth from the previous year. The US formulations business contributed significantly, registering Rs. 24,096 million with a 31% year-on-year increase despite a quarterly drop due to new product launches, including Indomethacin suppository and Plerixafor injection.

In the Indian market, the formulations business achieved Rs. 14,980 million in revenue, reflecting a growth fueled by the branded formulations, particularly in anti-diabetic and respiratory therapies. The consumer wellness segment, encompassing brands like Nycil and EverYuth, also saw substantial growth, driven by favorable seasonal effects.

Zydus Life has been active in expanding its product offerings and has made significant advancements in its innovation pipeline. This includes initiating Phase II clinical trials for a new chemical entity (NCE) aimed at treating amyotrophic lateral sclerosis (ALS) and starting Phase I trials for a PCSK9 inhibitor to assess its safety and tolerability​ (Business Wire India)​.

6) Lupin

Lupin has demonstrated substantial growth in the financial year 2025, solidifying its position as a major player in both the Indian and global pharmaceutical markets. For the third quarter of FY 2025, Lupin achieved a remarkable net sales figure of ₹5,767.71 crore, a slight increase from the last year.

Lupin’s strategic initiatives across various markets have contributed to this growth. Notably, sales in North America have shown impressive progress with a 23.7% increase year-over-year, indicating strong demand for Lupin’s products in the region. The company also reported growth in the Indian market with a 13.4% increase in sales, emphasizing its dominance and operational success domestically.

Research and development remain a critical focus for Lupin, with investments amounting to ₹4,344 Mn, which is about 7.70% of their sales, underscoring their commitment to innovation and the development of new products. These investments have resulted in multiple ANDA approvals and the launch of new products in the U.S., enhancing their generic product portfolio.

Overall, Lupin’s performance in FY 2025 highlights its successful expansion and operational efficiency, driven by strong sales growth across key regions and strategic R&D initiatives.

7) Biocon

Biocon remains a major name in India’s pharmaceutical and biopharma space, which reports a total revenue of 14,761.80 crores in FY 2025. Thanks to its strong presence in biosimilars, generics, and research services, the company has shown stable development.

In the third quarter of FY 2025, Biocon recorded a revenue of Rs 3,856 crore, marking 7% year-to-year growth. This promotion was inspired by the increasing demand for expansion in its biosimilar drugs and global markets.

Biocon is investing heavily in research and development to bring innovative treatments for patients worldwide. With a new product launch, a strategic partnership, and growing footprints in regulated markets, the company is determined to achieve even greater growth in the coming years.

9) Alkem Lab

Alkem Laboratories, an esteemed player in the Indian pharmaceutical industry, has reported significant financial achievements for the fiscal year 2025. In the third quarter, Alkem’s total revenue from operations reached ₹3,374.28 crore, with a marginal growth of 1.5%. This robust growth trajectory was further underscored in their nine-month performance, with a total revenue of ₹98,208 million, showing a 0.9% increase compared to the same period in the previous year.

Alkem Laboratories has excelled in harnessing strategic market opportunities and expanding its product portfolio, which includes branded generics, generic drugs, active pharmaceutical ingredients (APIs), and nutraceuticals. Their strong performance is partly attributed to significant revenue boosts from both domestic and international markets, reflecting the company’s effective global expansion strategy and its adaptability to dynamic market demands.

Continued focus on R&D and strategic marketing initiatives has also played key roles in driving Alkem’s growth, allowing it to maintain a competitive edge in the pharmaceutical sector. This concerted effort towards innovation and global market penetration is indicative of Alkem’s commitment to enhancing healthcare outcomes worldwide.

10) Torrent Pharma

Torrent Pharma is recognized for its strong focus on the therapeutic areas of cardiovascular, central nervous system, gastrointestinal, and anti-inflammatory drugs. With a robust presence in both the Indian and global markets, the company is known for its integrated healthcare solutions. In iscal year 2025, Torrent Pharma generated revenue of ₹11,302.00 crore, demonstrating its operational strength and innovation in drug development, which have significantly contributed to its sustained growth and market penetration.

11) Mankind Pharma

Mankind Pharma is renowned for its wide range of pharmaceutical and healthcare products, focusing on over-the-counter and prescription medications across various therapeutic areas. Known for its consumer-friendly products in the Indian market, the company excels in sectors like antibacterials, antidiabetics, and cardiovascular drugs. In fiscal year 2025, Mankind Pharma reported a revenue of ₹9,326.12 crore, reflecting its strong market reach and commitment to affordable healthcare solutions, which contribute significantly to its growth.

12) Divis Labs

Divis Labs specializes in the production of APIs and intermediates, with a strong focus on high-potency compounds and nutraceutical ingredients. The company is renowned for its high-quality standards and innovation in the pharmaceutical manufacturing sector. In fiscal year 2025, Divis Labs reported strong financial performance, achieving revenue of ₹9,078.00 crore, driven by its expertise in complex chemistries and its strategic positioning as a crucial partner for global pharma companies.

13) Piramal Pharma

Piramal Pharma is distinguished by its engagement in contract development and manufacturing, critical care, and the development of complex hospital generics. The company’s approach to leveraging strategic partnerships and focusing on niche markets has established its reputation within the pharmaceutical industry. In fiscal year 2025, Piramal Pharma reported significant growth, with revenues reaching ₹8,949.47 crore, emphasizing its successful expansion and innovative contributions to healthcare solutions.

14) Ipca Labs

Ipca Labs is highly regarded for its manufacturing and supply of various pharmaceutical products, particularly specializing in APIs and generic formulations. The company has a strong presence in therapeutic segments like pain management, antimalarials, and cardiovascular drugs. In fiscal year 2025, Ipca Labs reported a revenue of ₹8,725.93 crore, illustrating its robust performance and strategic market expansion, underpinned by its significant contribution to essential medicines and commitment to quality and affordability in healthcare.

15) Emcure Pharma

Emcure Pharmaceuticals had a strong financial year in 2025, with a total revenue of ₹ 7,551.11 crore. The company is constantly increasing its strong presence in both domestic and international markets.
In the third quarter of FY 2025, EMCure reported revenue of ₹ 1,962.6 crore, showing an increase of 17.7% year-over-year. The net profit of the company also increased by 30.3%, which reflects its strong operating performance.

Emcure’s domestic business contributed ₹ 888 crores, with 12% YOY growth, while its international segment saw even more growth, which increased by ₹ 1,075 crores (23%). Although its EBITDA margin increased from 18.4% to 18% last year, the company remains profitable and has an EBITDA of ₹ 354.5 crore.

With a focus on expanding your portfolio, investing in R&D, and increasing its presence globally, it is well deployed for continuous success in the pharmaceutical industry.

16) Jubilant Pharmova

Jubilant Pharmova, a leading player in the pharmaceutical and life sciences industry, reported revenue of 7,064.93 crore in FY 2025. In Q3 FY25, the company saw 9% YOY revenue growth, reaching ₹ 1,822 crore, while the net profit increased from 51% to ₹ 101 crore. With a strong appearance in radiopharmaceuticals, contract manufacturing, and generics, Jubilant Pharmova continued to expand its global footprint, focusing on innovation and special healthcare solutions.