Top 10 Pharmaceutical Companies in India
In the list of top pharmaceutical companies in India it is not the Indian companies but also the MNCs that are becoming the part of the race. Indian pharmaceutical market in 2008 was $7,743m and if compared to year 2007 it was 4% more than that. It is expected that Indian pharmaceutical market will grow more than the global pharmaceutical market and will become $15,490 million in 2014. Today Indian pharmaceutical industry is the second most fastest growing industry displaying the revenue of Rs 25,196.48 crore and growth of 27.32 percent. Top pharmaceutical companies in India are also acquiring the small companies worldwide to further expand the market. Pharmaceutical drugs injections, tablets, capsules, syrups are the products of pharma companies in India along with many more.
Find below the list of latest Top 10 pharma companies in India by Net Sales (BSE):
With total net sales of Rs 7686.59 crore, Ranbaxy is the largest pharmaceutical company in India.
With total net sales of Rs 6,977.50 crore Cipla is the second largest pharmaceutical company in India.
With total net sales of Rs 6,686.30 crore Dr Reddys Labs is the third largest pharmaceutical company in India.
Lupin is the fourth largest pharma company in India with the total net sales of Rs 5,364.37 crore.
Aurobindo Pharma is on 5th position with the total net sales of Rs 4,284.63 crore.
Net Sales revenues stood at Rs 4,015.56 crore makes it the sixth largest pharmaceutical company in India.
Cadila Health is the seventh largest pharma company with the total sales revenue of Rs 3,152.20 crore.
Eight largest company has the total sale revenue at Rs 2,641.07 crore.
Wockhardt has the total net sales of 2,560.16 crore and the ninth largest pharmaceutical company in India.
Revenue of Rs 2,352.59 crore makes Ipca India’s 10th largest pharma firm by sales.
History of Indian Pharma Industry:
Looking back into history reveals that it was in 1930 when the first pharmaceutical company in India came into existence in Kolkatta. It is called the “Bengal Chemicals and Pharmaceutical Works”. This Indian company is still there and today it is the part of five drug manufacturing companies that are owned by the government. Till the period of 60 years the pharmaceutical industry in India was overshadowed by the foreign drug manufacturing companies but with the Patent Act in 1970, the whole scenario of pharmaceutical companies in India had changed since then. With this the Indian market was more open to Indian pharmaceutical companies than the MNCs. So with this pharmaceutical companies in India started to grow in number At present there is a cut throat competition among top pharmaceutical companies in India with the native as well as MNCs. But there are certain issues that are concerning the growth of pharma companies in India. These are:
- Mandatory licensing and failure of new paten system.
- Regular power cuts and inadequate infrastructure.
- Restricted funding.
- Regulatory hindrances that lead to the delays in the launch of new drug or pharma product.
- Too many small as well as big pharmaceutical companies and excessive competition.