CDMO, API production, formulation, CRO & clinical, nutraceuticals & support and more: the companies building biopharma outsourcing in Ahmedabad, Gujarat, with their founders, funding, team size and business models.
Recent biopharma outsourcing business events in India
Funding, M&A, contract wins and launches involving 2,490 biopharma outsourcing companies in India, last 24 months: 81 M&A deals · 18 Contracts · 18 funding rounds · 3 launches. Newest first; companies and investors link to their Fliar profiles. Latest event in our news feed: Jun 2026.
The Indian government has officially approved the acquisition of Indian Medicines Pharmaceutical Corporation Ltd (IMPCL) by Skymap Pharmaceuticals Pvt Ltd for ₹121 crore.
Indoco Remedies has successfully completed the transfer of its ophthalmic business division to Sunways (India) Private Limited. This strategic move, finalised on May 18, 2026, involves…
DataM Intelligence has unveiled its latest report on the 'Synchronous Motors Market Size 2026' delivering powerful insights into key trends, future growth opportunities, and evolving…
Report
ContractSupply
Panacea biotec · client: Central Medical Services Society (CMSS)
Panacea Biotec has announced the receipt of a Letter of Award from the Central Medical Services Society (CMSS), under the Ministry of Health and Family Welfare, Government of India. The…
Jubilant Ingrevia has successfully acquired a 100% equity stake in Remidex Pharma Private Limited.
Pharmaceutical
M&AMerger · Announced
EPL acquires Indovida India Private Limited
EPL Limited and Indovida India Private Limited have today signed definitive agreements for a merger. The combined platform will have a valuation of ~$2 billion, with EPL being valued at…
SteinCares, a specialty healthcare company in Latin America, entered into a strategic licensing agreement with Shilpa Biologicals Pvt. Ltd.
Healthcare
M&AAcquisition · Rumored
Consortium led by Warburg Pincus and Mubadala acquires Encube ethicals
Separately, a consortium led by Warburg Pincus and Abu Dhabi-based sovereign investor Mubadala is in advanced talks to buy a majority stake in contract manufacturer Encube Ethicals, ET…
Separately, a consortium led by Warburg Pincus and Abu Dhabi-based sovereign investor Mubadala is in advanced talks to buy a majority stake in contract manufacturer Encube Ethicals
New Delhi: Eris Lifesciences Limited has completed the acquisition of the remaining 30 percent stake in Swiss Parenterals Limited, making it a wholly owned subsidiary
Two Jubilant Bhartia Group subsidiaries raised a combined 56.50 billion rupees through zero-coupon bonds in June to fund the acquisition of a 40% stake in Hindustan Coca-Cola Holdings.
M&AAcquisition · Completed
Cactus acquires Baker Hughes Company’s Surface Pressure Control business
Cactus, Inc. today announced the completion of the acquisition of a majority interest in Baker Hughes Company’s Surface Pressure Control business.
Aurobindo Pharma, a wholly owned subsidiary of Aurobindo Pharma, at its meeting held on Monday, i.e., January 1, 2026, has approved the acquisition of the non-oncology prescription…
Piramal Pharma Limited (PPL) has entered into an agreement to acquire a 100% stake in Hemmo Pharmaceuticals Pvt. Ltd., an Indian manufacturer of synthetic peptide APIs (active…
Aurobindo Pharma Ltd said its wholly owned arm, Auro Pharma Ltd, has acquired the branded non-oncology prescription formulations business of Khandelwal Laboratories Private Ltd on a…
Earlier in October, UNICEF also placed a significant order for polio vaccines. Panacea Biotec received the letter of award (LoA) as part of a long-term agreement to supply bOPV in 10 and…
Shardul Amarchand Mangaldas & Co. (SAM) acted as the legal advisor to Eris Lifesciences Limited (“ELL”) in connection with its proposed acquisition of 30% of the total share capital of…
The National Company Law Tribunal (NCLT) has approved the merger of SeQuent Scientific, a leading player in the global animal health industry, and Viyash Lifesciences, an integrated…
ANG Lifesciences India, a fast-growing organisation with an ultra-modern fully integrated, manufacturing facility dedicated to dry powder injectables (SVP), has acquired the printing and…
Global private equity firms Advent International and Warburg Pincus have joined the race for a stake purchase in contract drug maker Encube Ethicals Pvt. Ltd.
Shardul Amarchand Mangaldas & Co. (SAM) acted as the legal advisor for an on-market sale of 8.93% shareholding in Cohance Lifesciences Limited (formerly Suven Pharmaceuticals Limited)…
SAM has earlier advised Advent in its control acquisition of Suven Pharmaceuticals Limited by way of a share purchase and mandatory open offer.
Biopharma outsourcing companies in Ahmedabad, by revenue
Browse biopharma outsourcing companies in Ahmedabad by reported revenue, one-year revenue growth, revenue model, age and stage. The 50 companies below are the largest by their most recent reported revenue among 93 biopharma outsourcing companies in Ahmedabad, Gujarat that have filed a figure in the last four years. Every figure keeps its own reporting period, so compare periods before comparing amounts.
Showing 25 of 50
Company & businessRevenueRevenue growthHeadcount & growthAgeJobs · last 3 months
Each tile appears only where data is on record. Founder photos and LinkedIn links appear where a profile matches exactly.
Pharmaceutical company that manufactures and distributes a range of medications, including tablets, capsules, and lotions, with a focus on healthcare and medical research
Every company, not just 50All 165 biopharma outsourcing companies in Ahmedabad, filterable by stage, funding, team size, revenue model and age.
Founders and decision-makersLeadership teams with roles and verified LinkedIn profiles, ready for outreach.
Live signalsFunding rounds, hiring, launches and M&A as they happen, with alerts on the companies you follow.
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Explore biopharma outsourcing companies in Ahmedabad by what you are looking for
Browse biopharma outsourcing companies in Ahmedabad, including CDMOs, API manufacturers and clinical research organisations. Find pharma outsourcing companies in India for formulation, API production and clinical development.
8 ways to explore biopharma outsourcing in Ahmedabad
CDMO & contract manufacturing companiesAPI & intermediates manufacturersFormulation development & drug delivery companiesClinical research organisations (CRO)Nutraceutical manufacturers & pharma support servicesListed biopharma outsourcing companies in Ahmedabad
CDMO & contract manufacturing companies
Contract development and manufacturing organisations for small molecules, peptides and generics.
Company offers digital and analytics-based solutions for product screening, portfolio management, and optimization for the generic pharmaceutical industry
Revenue, profit and growth from the filed annual accounts of 87 biopharma outsourcing companies in Ahmedabad, Gujarat for FY24-25 — 101 of the 165 companies on this page file accounts with the Ministry of Corporate Affairs. The five largest earn 48% of the revenue, so medians describe the typical company better than totals.
combined revenue, FY24-25₹6,265.07 cr
87 companies filing accounts
combined net profit₹757.18 cr
12.1% aggregate margin
are profitable82%
71 of 87 companies
median revenue~₹15.3 cr
the typical company
median revenue growth+11%
into FY24-25
earned by the top five48%
revenue concentration
Six-year view
Combined revenue of filing companies
₹3,701.40 crFY19-2077 filers
₹3,709.75 crFY20-2180 filers
₹4,939.86 crFY21-2287 filers
₹5,673.99 crFY22-2390 filers
₹5,651.41 crFY23-2491 filers
₹6,265.07 crFY24-2587 filers
The number of companies filing changes each year; the three-year cohort below compares like with like.
Like-for-like
The same 83 companies over three years
+15%
FY22-23₹5,403.97 cr₹567.43 cr net
FY23-24₹5,432.47 cr₹562.58 cr net
FY24-25₹6,216.78 cr₹754.64 cr net
Companies with accounts for all three years, so growth is not an artefact of who filed.
Scale and profit
Bigger companies are far more often profitable
Under ₹1 cr862% profitable
₹1–10 cr2673% profitable
₹10–100 cr4090% profitable
₹100–1,000 cr1283% profitable
Over ₹1,000 cr1100% profitable
Companies by FY24-25 revenue. Bars show how many companies sit in each band.
Momentum
How fast revenue moved into FY24-25
Shrinking29
0–20%21
20–50%9
50–100%11
Doubled+15
85 companies with accounts for both years; median growth +11%.
Profitability
Profit is concentrated at the top
71profitable
16loss-making
12.1%aggregate margin
3.2%median margin
The aggregate margin is pulled up by a few large filers; the median shows the typical company.
Growth leaders · ₹10 cr+ revenue
Fastest growing, FY24-25
Company
Growth
Revenue
ClinnexCLINNEX RESEARCH PRIVATE LIMITED
Acute Research centreACUTE RESEARCH PRIVATE LIMITED
Standalone annual accounts filed with the Ministry of Corporate Affairs. Brands that share one legal entity are shown together and counted once.
Industry landscape report
Chemicals and Materials Industry Landscape of Ahmedabad
The financials above are one chapter. The full biopharma outsourcing landscape of Ahmedabad maps the whole industry — every segment, the capital behind it, the talent market and where the next opportunities are.
The figures on this page come from Fliar’s company, funding and MCA filings data. Use it through the Investor Intelligence API and MCA financials feeds, or explore every company, filing and investor in Radar.
Capital & corporate activity
Biopharma outsourcing funding and M&A across India
193 recorded equity rounds have gone to 2,490 biopharma outsourcing companies in India — how much, at which stage, into which sub-sectors, from whom, and how Ahmedabad compares. Debt, IPO and grant rounds are excluded.
equity rounds, last 12 months2
US$270.00m
equity rounds, last 24 months7
US$425.09m
raised over five yearsUS$1.28bn
51 rounds in India
M&A deals, India81
last 24 months
Capital by year
Equity funding into biopharma outsourcing in India
amount rounds
$84m201811
$134m20199
$62m202011
$435m202116
$315m202214
$90m20238
$19m20246
$155m20256
$270m20261
Bars show US$ raised; the number under each year is equity rounds. 2026 is year to date. The peak year was 2021, with US$435.16m across 16 rounds.
The funding ladder · five years
Rounds and typical cheque by stage
AngelUS$119.62m12 rounds · median US$500k
SeedUS$14.38m11 rounds · median US$1.29m
Series AUS$80.53m9 rounds · median US$4.40m
Series BUS$106.78m7 rounds · median US$16.27m
Series CUS$255.00m3 rounds · median US$80.00m
Series D+US$284.18m2 rounds · median US$142.09m
Private equityUS$423.40m7 rounds · median US$68.00m
5 biopharma outsourcing companies in Ahmedabad have recorded equity funding, US$90.62m in total. Totals and round dates describe the historical record; they are not current valuations.
Most funded
Largest recorded equity totals, with the latest recorded round.
Biopharma outsourcing
Provider of clinical research services for drug development and testing
Recorded equity fundingUS$83.35mSeries B · May 2023
Founders
Details not available
Biopharma outsourcing
Fully-integrated pharmaceutical company based in Ahmedabad, Gujarat, India
Recorded equity fundingUS$4.49mSeries A · Feb 2024
Each tile appears only where data is on record. Founder photos and LinkedIn links appear where a profile matches exactly.
Founders and momentum in Ahmedabad
Meet the people behind biopharma outsourcing companies in Ahmedabad. 62 of 165 companies list founders or leaders; where a public LinkedIn profile matches exactly, the expanded profile shows the photo, headline, location and education.
Fastest revenue growth
Biopharma outsourcing companies in Ahmedabad with the highest one-year revenue growth among those reporting at least ₹5 crore in revenue. Growth is the reported one-year change for the period shown.
Biopharma outsourcing
Manufacturer and exporter of bulk drugs and chemicals
Each tile appears only where data is on record. Founder photos and LinkedIn links appear where a profile matches exactly.
Recently founded
Biopharma outsourcing companies in Ahmedabad founded in the last four years, newest first.
Management consulting services
Provider of analytical services for the pharmaceutical industry
Founded2025Unfunded
Founders
Details not available
Biopharma outsourcing
CDMO focused on manufacturing of pharmaceutical formulations
Founded2024Unfunded
Founder · 1
SB
Satish BarnwalCo-founder and CEO
Biopharma outsourcing
Pharmaceutical company that manufactures and supplies a range of vitamin, derma, and anti-irritant products
Founded2024Unfunded
Founders
Details not available
Biopharma outsourcing
Provider of clinical research and marketing services for biopharma sector
Founded2023Unfunded
Founders
Details not available
Biopharma outsourcing
CRO focused on late phase clinical trial services
Founded2023Unfunded
Founders
Details not available
Biopharma outsourcing
Contract manufacturing company offering a range of pharmaceutical, nutraceutical, ayurveda, and personal care products
Founded2023Unfunded
Founders
Details not available
Biopharma outsourcing
Provider of pharmaceutical research & development services
Founded2023Unfunded
Founders
Details not available
Biopharma outsourcing
Pharmaceutical company engaged in the manufacturing and supply of pharmaceutical products and clinical trial services
Founded2023Unfunded
Founders
Details not available
Biopharma outsourcing
Company offers digital and analytics-based solutions for product screening, portfolio management, and optimization for the generic pharmaceutical industry
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