Company lists
The India edition · 2026

Traditional pharmaceuticalscompanies in India

Generic drugs, API & contract manufacturing, ayurvedic & herbal, distributors, food & health products and more: the companies building traditional pharmaceuticals in India, with their founders, funding, team size and business models.

1,619 company profiles853 with reported revenue49 with recorded fundingSeptember 2026 edition
India · Photo: Wikimedia Commons (CC BY-SA 4.0)

Recent traditional pharmaceuticals business events in India

Funding, M&A, contract wins and launches involving 2,116 traditional pharmaceuticals companies in India, last 24 months: 156 M&A deals · 40 Contracts · 27 funding rounds · 7 launches. Newest first; companies and investors link to their Fliar profiles. Latest event in our news feed: Jun 2026.

M&AAcquisition · Announced

Marksans pharma acquires Qliniq

On June 1, 2026, Marksans Pharma Ltd confirmed the plan for acquisition of 100% of the share capital of QliniQ B.V. for a total consideration of €7,500,000.

Pharmaceutical
M&AAcquisition · Announced

Anupam Rasayan India acquires Bliss gvs pharma

New Delhi, Specialty chemicals maker Anupam Rasayan India has signed an agreement to acquire up to 43.3 per cent stake in pharmaceutical formulations company Bliss GVS Pharma Ltd for an…

Pharmaceutical formulations
M&AAcquisition · Announced

Orchid pharma acquires Allecra

Orchid Pharma has acquired global rights to Enmetazobactam and the trademark Exblifep from Allecra, pending completion within three months.

Pharmaceuticals
M&AAcquisition · Announced

Sun pharmaceutical industries acquires Organon

The pharmaceutical sector accounted for the vast majority of the financial commitment, with planned investments exceeding $19.1 billion, led by Sun Pharmaceutical Industries Ltd, which…

Pharmaceutical
Contract

Sun pharma · client: Organon

Sun Pharma To Acquire Organon in USD 11.75 Billion Deal, Marks Biggest Indian Pharma Acquisition Ever.

M&AAcquisition · Announced

Organon acquires Sun pharma

US pharmaceutical company Organon is going to buy 100 percent stake in India 's Sun Pharma.

M&AAcquisition · Announced

Corona remedies acquires Wokadine

Corona Remedies announced the acquisition of the Wokadine brand from Dr. Reddy's Laboratories to strengthen its presence in targeted specialty segment and offer wider accessibility.

Pharmaceuticals
M&AAcquisition · Announced

Corona remedies acquires Dr. reddy's laboratories

Corona Remedies announced the acquisition of the Wokadine brand from Dr. Reddy's Laboratories to strengthen its presence in targeted specialty segment and offer wider accessibility.

Pharmaceuticals
ContractService

Aurobindo pharma · client: Msd

The company’s arm has expanded its contract manufacturing (CMO) agreement with MSD and plans to set up a new unit with an investment of $150–175 million, indicating a strong push in the…

M&AAcquisition · Announced

Rubicon research acquires Arinna lifesciences

Apr 15: Rubicon Research Limited (“Rubicon” or the “Company”) today announced the acquisition of an 85% equity ownership in Arinna Lifesciences Limited (“Arinna”) from its current…

Pharmaceutical
LaunchBosaya™

Biocon

Biocon Limited, a global biopharmaceutical company, has announced the commercial launch of its denosumab biosimilars, Bosaya™ and Aukelso™, in the United States.

Biosimilar
M&AAcquisition · Rumored

Warburg pincus acquires Maneesh pharmaceuticals

Warburg Pincus is in advanced discussions to acquire the non-TB formulations business of Mumbai-headquartered Maneesh Pharmaceuticals in a deal valued at around ₹1,600-1,800 crore.

M&AAcquisition · Completed

Eris lifesciences acquires Velbiom probiotics

The acquisition has been executed via a Business Transfer Agreement (BTA), marking Eris Lifesciences’ strategic expansion into the growing probiotics and microbiome-based therapeutics…

M&AAcquisition · Completed

USV acquires Wellbeing nutrition

pharmaceutical major USV acquired a 79% stake in Wellbeing Nutrition

Nutrition
M&AAcquisition · Announced

Strides pharma science acquires Sandoz

Strides Pharma Science on Tuesday said it has inked a pact with Sandoz AG to acquire certain branded generic products across Sub-Saharan Africa.

Pharmaceutical
Contract

Strides Pharma · client: Sandoz

The initial consideration for the transaction is $12 million, payable at closing and is expected to be funded through internal accruals, Strides said in a statement.

Pharmaceutical
ContractSupply

Lupin · client: Zydus lifesciences

Shares of Lupin and Zydus Lifesciences rose up to 2% on Tuesday after the pharma firm inked a licensing and supply agreement with the lifesciences company, to expand access to innovative…

M&AAcquisition · Completed

Kedaara capital acquires Sanofi india

The company was formed after acquiring 16 nutraceutical brands from Sanofi India for ₹587 crore.

Pharmaceuticals
M&AAcquisition · Announced

Arogya Tech Services LLP acquires Bijoy hans

Arogya Tech Services LLP has acquired a substantial stake in Bijoy Hans Limited through a preferential allotment, as disclosed in a regulatory filing dated March 6, 2026.

M&AAcquisition · Announced

Sanofi acquires Medley

The share of the EMS pharmaceutical market can rise to 31% with the purchase of Medley, Sanofi, said Marcus Sanchez, vice president of the group, on Friday (6).

M&AAcquisition · Announced

Ems group acquires Medley

The purchase of Medley by the EMS Group should keep the pharmaceutical company operating independently within the group structure.

Pharmaceuticals
Funding

Biocon

Biocon acquired 11,53,44,285 Optionally Convertible Redeemable Non-Cumulative Preference Shares of Rs 10 each in Biocon Biosphere Limited and 20,00,00,000 similar shares in Biocon Pharma…

Investors Biocon
Pharmaceutical manufacturing
ContractService

Morepen laboratories · client: Major global pharmaceutical player

Morepen Laboratories Limited has landed a landmark CDMO contract valued at approximately Rs. 825 crore with a major global pharmaceutical player.

Pharmaceuticals
M&AAcquisition · Announced

WaveRise Investments, ChrysCapital, and Two Infinity Partners acquires Novartis india

Novartis has agreed to sell its entire 70.68% stake in Novartis India to a private equity consortium for about $159 million, marking its exit from the Indian listed entity as part of a…

Pharmaceuticals
M&AAcquisition · Announced

consortium of WaveRise Investments, ChrysCapital and Two Infinity Partners acquires Novartis india

Novartis announced on Friday that the share would be sold to a consortium of financial investors for about $159 million.

Pharmaceutical
M&AAcquisition · Pending

Consortium of WaveRise Investments, ChrysCapital, Two Infinity Partners acquires Novartis india

The companies have also made an offer to purchase an additional 26% stake from Novartis India's public shareholders, under takeover regulations that mandate such an exercise on the…

Pharmaceutical
M&AAcquisition · Announced

WaveRise Investments, ChrysCapital Fund X, Two Infinity Partners, ChrysCapital X, LLC, OceanEdge Investments Limited acquires Novartis india

Under the open offer, acquirers have announced acquisition of up to 64,19,608 fully paid-up equity shares of face value of Rs 5 each from public shareholders of Novartis India Limited,…

M&AAcquisition · Announced

Consortium of financial investors acquires Novartis india

The company sold its share of 70.68 percent for about 159 million dollars to a consortium of financial investors, Novartis announced on Friday.

Pharmaceutical
M&AAcquisition · Announced

WaveRise Investments, ChrysCapital, Two Infinity Partners acquires Novartis india

Novartis announced on Friday that the share would be sold to a consortium of financial investors for about $159 million.

Pharmaceuticals

Traditional pharmaceuticals companies in India, by revenue

Browse traditional pharmaceuticals companies in India 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 853 traditional pharmaceuticals companies in India 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

Reliance

Traditional pharmaceuticals
₹998,114.00 crFY 2024-25
Not reported
—Not available
41 yr1985
12postings · last posted Sep 2026

Specialty generic pharmaceutical company manufactures and sells pharmaceutical formulations and APIs

Traditional pharmaceuticals
₹49,851.04 crFY 2023-24
Not reported
20,810+1% 12 mo to Jul 2024recorded Jul 2024
43 yr1983
61postings · last posted Sep 2026

Multinational pharmaceutical company that develops and manufactures innovative and medicines to improve patient health

Traditional pharmaceuticals
₹33,741.20 crFY 2024-25
+17%2024–2025
32,580-12% 12 mo to Mar 2024LinkedIn · Jul 2026
42 yr1984
0none in 3 months

Provider of generic biocatalytic solutions

Traditional pharmaceuticals
₹32,345.58 crFY 2024-25
+9%2024–2025
15,139+11% 12 mo to Mar 2024LinkedIn · Jul 2026
40 yr1986
2postings · last posted Sep 2026

Company focusing on consumer healthcare products

Traditional nutraceuticals
₹28,409.49 crFY 2024-25
+7%2024–2025
2,258+20% vs previous recordLinkedIn · Jul 2026
11 yr2015
0none in 3 months

Manufacturer of APIs, generic drugs, and formulation development services

Traditional pharmaceuticals
₹26,520.66 crFY 2023-24
Not reported
702-1% 12 mo to Dec 2022recorded Dec 2022
91 yr1935
19postings · last posted Sep 2026

Manufacturer of complex generics, biosimilars, specialty, OTC, and API drugs

Traditional pharmaceuticals
₹16,547.17 crFY 2021-22
Not reported
22,210+2399% vs previous recordLinkedIn · Jul 2026
58 yr1968
45postings · last posted Sep 2026

Manufacturer of inhalation anesthesia products

Traditional pharmaceuticals
₹14,713.41 crFY 2021-22
Not reported
341+15% vs previous recordLinkedIn · Jul 2026
32 yr1994
1postings · last posted Aug 2026

Manufacturer of active pharmaceutical ingredients, generics, biosimilars, and custom pharmaceutical services

Traditional pharmaceuticals
₹16,536.50 crFY 2024-25
+13%2024–2025
8,739LinkedIn · Jul 2026
33 yr1993
30postings · last posted Sep 2026

Manufacturer and development of pharmaceutical generics, formulations, and nutraceuticals

Traditional pharmaceuticals
₹12,978.42 crFY 2023-24
Not reported
16,426-16% vs previous recordLinkedIn · Jul 2026
53 yr1973
7postings · last posted Sep 2026

Pharmaceutical company engaged in developing, manufacturing, and marketing a diverse range of pharmaceutical formulations

Traditional pharmaceuticals
₹12,744.23 crFY 2024-25
+21%2024–2025
18,717-92% 12 mo to Sep 2024LinkedIn · Jul 2026
35 yr1991
4postings · last posted Aug 2026

Manufacturer of active pharmaceutical ingredients

Traditional pharmaceuticals
₹9,712.00 crFY 2024-25
+19%2024–2025
3,555+3% 12 mo to Nov 2023LinkedIn · Jul 2026
36 yr1990
0none in 3 months

Developer and manufacturer of pharmaceutical products

Traditional pharmaceuticals
₹8,256.23 crFY 2021-22
Not reported
19,464+8% 12 mo to Feb 2024recorded Feb 2024
40 yr1986
0none in 3 months

Manufacturer of APIs and other drug formulations various therapeutic segments

Traditional pharmaceuticals
₹7,829.81 crFY 2023-24
Not reported
14,343-100% 12 mo to Jun 2024LinkedIn · Jul 2026
77 yr1949
2postings · last posted Sep 2026

Developer, manufacturer, and markets a broad range of pharmaceutical products

Traditional pharmaceuticals
₹7,963.26 crFY 2024-25
+19%2024–2025
9,088+6% 12 mo to Jul 2024LinkedIn · Jul 2026
43 yr1983
4postings · last posted Sep 2026

Pharmaceutical company with a research background that produces APIs, formulations, and provides CRAMS services

Traditional pharmaceuticals
₹7,562.77 crFY 2024-25
+12%2024–2025
9,175+20% 12 mo to Nov 2023recorded Nov 2023
23 yr2003
6postings · last posted Sep 2026

Manufacturer & supplier of generic pharmaceuticals

Traditional pharmaceuticals
₹6,256.93 crFY 2023-24
Not reported
61+5% 12 mo to Jul 2024LinkedIn · Jul 2026
119 yr1907
6postings · last posted Sep 2026

Pharmaceutical and biotechnology company

Traditional pharmaceuticals
₹5,613.89 crFY 2024-25
+11%2024–2025
3,867+5% 12 mo to Mar 2024LinkedIn · Jul 2026
21 yr2005
0none in 3 months · last posted Jun 2026

Developer of generic drugs

Traditional pharmaceuticals
₹4,545.02 crFY 2022-23
Not reported
9,806+9% 12 mo to Jul 2024recorded Jul 2024
55 yr1971
3postings · last posted Sep 2026

Developer and manufacturer of API and finish dosage forms

Traditional pharmaceuticals
₹4,784.00 crFY 2024-25
+16%2024–2025
2,687+4% 12 mo to Jul 2024LinkedIn · Jul 2026
45 yr1981
0none in 3 months

CDMO focused on manufacturing of active pharmaceutical ingredients

Traditional pharmaceuticals
₹4,510.77 crFY 2023-24
Not reported
3,746+2% 12 mo to Jul 2024LinkedIn · Jul 2026
42 yr1984
10postings · last posted Sep 2026

Manufacturer of generic pharmaceuticals, active pharmaceutical Ingredients (APIs) and bio-similars.

Traditional pharmaceuticals
₹4,026.08 crFY 2021-22
Not reported
6,905+16% 12 mo to Jul 2024recorded Jul 2024
65 yr1961
—No postings tracked

Manufacturer of active pharmaceutical ingredients for various therapeutic categories

Traditional pharmaceuticals
₹4,422.21 crFY 2024-25
-5534%2024–2025
701LinkedIn · Jul 2026
4 yr2022
1postings · last posted Aug 2026

Manufacturer of generic pharmaceutical products

Traditional pharmaceuticals
₹4,293.31 crFY 2023-24
Not reported
9,301+1% 12 mo to Mar 2024LinkedIn · Jul 2026
53 yr1973
19postings · last posted Sep 2026

Manufacturer of drugs for multiple therapeutic areas

Traditional pharmaceuticals
₹2,916.40 crFY 2022-23
Not reported
201-1% 12 mo to Aug 2024recorded Aug 2024
70 yr1956
49postings · last posted Aug 2026
50 of 1,619 companies shown here · the full list is on Radar
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Explore all 1,619 traditional pharmaceuticals companies in India on Radar

This page shows the top 50. Radar has the complete, filterable list with contacts and live company signals.

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Explore traditional pharmaceuticals companies in India by what you are looking for

Browse traditional pharmaceuticals companies in India, from generic drug makers to API manufacturers and contract manufacturers. Find pharma distributors, ayurvedic and herbal medicine makers and newer pharma startups in one place.

8 ways to explore traditional pharmaceuticals in India

Generic drug & formulation manufacturersAPI makers & contract pharma manufacturersAyurvedic, herbal & nutraceutical companiesPharmaceutical distributors & tradersFood, oral care & consumer health product makersTraditional pharmaceuticals startups in India

Generic drug & formulation manufacturers

Makers of generic medicines and finished formulations for many therapeutic areas.

  1. ERIs Life Sciences

    Manufacturer of pharmaceutical formulations for chronic diseases

    Traditional pharmaceuticals
    See in list
  2. Marksans Pharma

    Provider of pharmaceutical drug formulation manufacturing services

    Traditional pharmaceuticals
    See in list
  3. FDC Limited

    Manufacturer of Oral Rehydration Salts (ORS) and ophthalmic products

    Traditional pharmaceuticals
    See in list
  4. La Renon

    Provider of pharmaceutical products

    Traditional pharmaceuticals
    See in list
  5. Corona Remedies

    Manufacturer of pharmaceutical products focused on women's health, cardio-diabetology, pain management, and urology

    Traditional pharmaceuticals
    See in list

API makers & contract pharma manufacturers

Manufacturers of active pharmaceutical ingredients and contract development and manufacturing partners.

  1. Aurobindo Pharma

    Provider of generic biocatalytic solutions

    Traditional pharmaceuticals
    See in list
  2. Divis Laboratories

    Manufacturer of active pharmaceutical ingredients

    Traditional pharmaceuticals
    See in list
  3. Laurus Labs

    Pharmaceutical and biotechnology company

    Traditional pharmaceuticals
    See in list
  4. Natco Pharma

    Developer and manufacturer of API and finish dosage forms

    Traditional pharmaceuticals
    See in list
  5. Reliance Life Sciences

    Provider of clinical research, regenerative medicine, and specialty pharmaceuticals

    Traditional pharmaceuticals
    See in list

Ayurvedic, herbal & nutraceutical companies

Makers of ayurvedic medicines, herbal products, dietary supplements and nutraceuticals.

  1. Sanofi India

    Manufacturer of drugs for multiple therapeutic areas

    Traditional pharmaceuticals
    See in list
  2. Tirupati Medicare

    Manufacturer of pharmaceutical and nutraceutical products

    Alternative medicine products
    Website
  3. Azista

    Manufacturer of food, healthcare, aerospace products, and composite engineering applications

    Food & beverage products
    Website
  4. Cyano Pharma

    Manufacturer of generic & patent allopathic and ayurvedic pharma formulations

    Traditional pharmaceuticals
    Website
  5. VPL Chemicals

    Manufacturer of specialty chemicals, intermediates, and custom synthesized molecules

    Traditional pharmaceuticals
    Website

Pharmaceutical distributors & traders

Distributors and suppliers of pharmaceutical products and medical supplies.

  1. Livealth Biopharma

    Manufacturer and distributor of drugs

    Pharmaceutical distributors
    Website
  2. Wonder Drugs

    Manufacturer and distributor of pharmaceutical goods, focusing on branded formulations.

    Pharmaceutical distributors
    Website
  3. Ajmera Pharmasure

    Manufacturer and sole distributor of pharmaceutical and manufacturing products

    Pharmaceutical distributors
    Website
  4. Flagship Biotech

    Manufacturer of injectable, oral, and topical pharmaceutical formulations

    Pharmaceutical distributors
    Website
  5. Biotic Healthcare

    PCD pharma company offering franchise opportunities for pharmaceutical product distribution

    Traditional pharmaceuticals
    Website

Food, oral care & consumer health product makers

Pharma-linked makers of food supplements, oral care and consumer health goods.

  1. Jagdale

    Manufacturer and processor of food products

    Food & beverage products
    Website
  2. Narmada Gelatines

    Manufacturer and supplier of ossein and gelatine

    Diversified chemicals
    Website
  3. Avanscure Lifesciences

    Manufacturer of pharmaceutical bulk drugs

    Traditional pharmaceuticals
    Website
  4. Prolgae

    Brand of organic spirulina nibs

    Food & beverage products
    Website
  5. Smart Laboratories

    Brand offering skin, hair & health care products

    Beauty & personal care products
    Website

Traditional pharmaceuticals startups in India

Newer pharmaceutical companies founded in recent years.

  1. Matrix Pharmacorp

    Manufacturer of active pharmaceutical ingredients for various therapeutic categories

    Traditional pharmaceuticals
    See in list
  2. Humbing Ethicals

    Pharmaceutical company specializes in the manufacture and supply of a variety of medicinal products

    Traditional pharmaceuticals
    See in list
  3. Gangwal Healthcare

    Manufacturer of pharmaceutical and nutraceutical products including active ingredients, pellets, and transdermal patches

    Biopharma outsourcing
    Website
  4. Astonea Labs

    Developer of software facilitating data management and workflow automation solutions

    Traditional pharmaceuticals
    Website
  5. Zenfold Sustainable Technologies

    Specialty and fine chemicals company focused on sustainable solutions

    Diversified chemicals
    Website
107 companies in India

Traditional pharmaceuticals companies hiring in India

Pharmaceutical companies with open jobs right now.

  1. RELIANCE

    Reliance

    Traditional pharmaceuticals
    See in list
  2. Sun Pharma

    Specialty generic pharmaceutical company manufactures and sells pharmaceutical formulations and APIs

    Traditional pharmaceuticals
    See in list
  3. Aurobindo Pharma

    Provider of generic biocatalytic solutions

    Traditional pharmaceuticals
    See in list
  4. Cipla

    Manufacturer of APIs, generic drugs, and formulation development services

    Traditional pharmaceuticals
    See in list
  5. Lupin

    Manufacturer of complex generics, biosimilars, specialty, OTC, and API drugs

    Traditional pharmaceuticals
    See in list
34 companies in India

Listed traditional pharmaceuticals companies in India

Publicly traded pharmaceutical companies.

  1. Sun Pharma

    Specialty generic pharmaceutical company manufactures and sells pharmaceutical formulations and APIs

    Traditional pharmaceuticals
    See in list
  2. Dr. Reddy's Laboratories

    Multinational pharmaceutical company that develops and manufactures innovative and medicines to improve patient health

    Traditional pharmaceuticals
    See in list
  3. Aurobindo Pharma

    Provider of generic biocatalytic solutions

    Traditional pharmaceuticals
    See in list
  4. Cipla

    Manufacturer of APIs, generic drugs, and formulation development services

    Traditional pharmaceuticals
    See in list
  5. Lupin

    Manufacturer of complex generics, biosimilars, specialty, OTC, and API drugs

    Traditional pharmaceuticals
    See in list
70 companies in India
Mobile reach

Top 10 traditional pharmaceuticals apps from India

The most-installed Android apps published by traditional pharmaceuticals companies headquartered in India — 428K installs between them. 42 companies on this page publish at least one app; each company (legal entity) appears once, with its most-installed app.

1 of 10
2

SunPharma Star Award

by Sun Pharma

Installs52K
Rating—
Last updatedSep 2025
View on Google Play ↗
SunPharma Star Award screenshot 1SunPharma Star Award screenshot 2SunPharma Star Award screenshot 3SunPharma Star Award screenshot 4SunPharma Star Award screenshot 5SunPharma Star Award screenshot 6
3

LegalRx: Medico-Legal Informat

by Lupin

Installs51K
Rating—
Last updatedJan 2023
View on Google Play ↗
LegalRx: Medico-Legal Informat screenshot 1LegalRx: Medico-Legal Informat screenshot 2LegalRx: Medico-Legal Informat screenshot 3LegalRx: Medico-Legal Informat screenshot 4LegalRx: Medico-Legal Informat screenshot 5LegalRx: Medico-Legal Informat screenshot 6
5

IAP Growth Chart Application

by Zuventus

Installs45K
Rating—
Last updatedJan 2024
View on Google Play ↗
IAP Growth Chart Application screenshot 1IAP Growth Chart Application screenshot 2IAP Growth Chart Application screenshot 3IAP Growth Chart Application screenshot 4IAP Growth Chart Application screenshot 5IAP Growth Chart Application screenshot 6
The business behind the activity

Traditional pharmaceuticals financials in India

Revenue, profit and growth from the filed annual accounts of 766 traditional pharmaceuticals companies in India for FY24-25 — 880 of the 1,619 companies on this page file accounts with the Ministry of Corporate Affairs. The five largest earn 75% of the revenue, so medians describe the typical company better than totals.

combined revenue, FY24-25₹829,599.19 cr

766 companies filing accounts

combined net profit₹81,418.52 cr

9.8% aggregate margin

are profitable83%

636 of 766 companies

median revenue~₹29.0 cr

the typical company

median revenue growth+8%

into FY24-25

earned by the top five75%

revenue concentration

Six-year view

Combined revenue of filing companies

₹538,158.17 crFY19-20735 filers
₹478,983.75 crFY20-21762 filers
₹685,200.28 crFY21-22785 filers
₹804,277.37 crFY22-23802 filers
₹264,808.04 crFY23-24802 filers
₹829,599.19 crFY24-25766 filers

The number of companies filing changes each year; the three-year cohort below compares like with like.

Like-for-like

The same 726 companies over three years

+20%
FY22-23₹231,365.99 cr₹29,066.05 cr net
FY23-24₹256,053.98 cr₹33,418.76 cr net
FY24-25₹277,173.31 cr₹45,842.77 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 cr9145% profitable
₹1–10 cr14477% profitable
₹10–100 cr31190% profitable
₹100–1,000 cr17493% profitable
Over ₹1,000 cr4696% profitable

Companies by FY24-25 revenue. Bars show how many companies sit in each band.

Momentum

How fast revenue moved into FY24-25

Shrinking246
0–20%295
20–50%132
50–100%46
Doubled+34

753 companies with accounts for both years; median growth +8%.

Profitability

Profit is concentrated at the top

636profitable
129loss-making
9.8%aggregate margin
2.8%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

CompanyGrowthRevenue
Apple BiotechAPPLE BIOTECH HEALTHCARE PRIVATE LIMITED₹39.25 cr
Aastha-IndiaAASTHA CLEANROOM SYSTEMS PRIVATE LIMITED+150%₹33.60 cr
Aspiro PharmaASPIRO PHARMA LIMITED₹418.29 cr
Dallas DrugsDALLAS DRUGS PRIVATE LIMITED+138%₹12.01 cr
RipharmaRIPHARMA LABORATORIES LIMITED+138%
Zenfold Sustainable TechnologiesZENFOLD SUSTAINABLE TECHNOLOGIES PRIVATE LIMITED+116%₹71.04 cr
Profit leaders · ₹10 cr+ revenue

Highest net margins, FY24-25

CompanyMarginRevenue
Strides Pharma ScienceSTRIDES PHARMA SCIENCE LIMITED₹2,185.61 cr
NabrosNABROS PHARMA PRIVATE LIMITED56.9%₹101.03 cr
Serdia PharmaceuticalsSERVIER INDIA PRIVATE LIMITED45.1%₹685.38 cr
Natco PharmaNATCO PHARMA LIMITED41.9%₹4,415.80 cr
SGPharmaSGPHARMA PRIVATE LIMITED₹22.01 cr
PharmasynthPHARMA SYNTH FORMULATIONS LIMITED
Inside the industry

Sub-sectors compared, FY24-25

Sub-sectorCompaniesRevenueMedian revenueProfitableMargin
Traditional pharmaceuticals721₹798,996.78 cr~₹26.7 cr83%9.4%
Traditional nutraceuticals6₹21,755.42 cr~₹310.7 cr100%25.5%
Biopharma outsourcing13₹3,525.73 cr~₹107.8 cr85%12.1%
Diversified chemicals6₹2,533.36 cr~₹85.0 cr67%3.8%
Diversified pharmaceuticals5₹1,204.93 cr~₹23.2 cr60%11.7%
Pharmaceutical distributors7₹321.22 cr~₹39.3 cr100%6.2%
Leaders

Largest traditional pharmaceuticals companies by revenue, FY24-25

Company · legal entityRevenueNet resultMarginGrowth
RELIANCEReliance Industries Limited₹548,886.00 cr₹35,262.00 cr6.4%—
Dr. Reddy's LaboratoriesDR.REDDY'S LABORATORIES LTD₹24,118.80 cr₹5,349.40 cr22.2%+19%
Cipla HealthCipla Limited₹20,029.57 cr₹5,157.65 cr25.8%+14%
Sun PharmaSUN PHARMA DISTRIBUTORS LIMITED₹16,887.34 cr₹317.19 cr1.9%+13%
HeteroHETERO LABS LIMITED₹11,939.44 cr₹1,109.93 cr9.3%+11%
Aurobindo PharmaAUROBINDO PHARMA LTD₹11,261.42 cr₹1,746.79 cr15.5%-0%
Mankind PharmaMANKIND PHARMA LIMITED₹9,991.01 cr₹1,945.48 cr19.5%+12%
Divis LaboratoriesDIVI'S LABORATORIES LIMITED₹9,550.00 cr₹2,209.00 cr23.1%+19%
Alkem LaboratoriesAlkem Laboratories Limited₹9,320.50 cr₹2,280.90 cr24.5%+13%
MacleodsMACLEODS PHARMACEUTICALS LTD₹9,308.11 cr₹2,276.37 cr24.5%+5%
Some figures are available to Radar members.Log in to Radar to see every figure

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

Accounting and Tax Software Industry Landscape of India

The financials above are one chapter. The full traditional pharmaceuticals landscape of India maps the whole industry — every segment, the capital behind it, the talent market and where the next opportunities are.

  • Market map of every sub-sector
  • Funding & company formation by year
  • Revenue, profit & financial strength
  • Digital footprint: traffic, apps, releases
  • Hiring, skills & pay
  • Founders & leaders
  • News & sentiment
  • Where demand runs ahead of supply
Read the traditional pharmaceuticals landscape of India
For investors and data teams

Put this intelligence into your own tools

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

Traditional pharmaceuticals funding and M&A across India

129 recorded equity rounds have gone to 2,116 traditional pharmaceuticals companies in India — how much, at which stage, into which sub-sectors, from whom, and how India compares. Debt, IPO and grant rounds are excluded.

equity rounds, last 12 months1

US$270.00m

equity rounds, last 24 months5

US$276.73m

raised over five yearsUS$675.09m

30 rounds in India

M&A deals, India156

last 24 months

Capital by year

Equity funding into traditional pharmaceuticals in India

amount rounds
$395m20188
$57m20196
$33m20206
$143m20217
$139m20228
$31m20235
$87m20247
$5.9m20252
$270m20261

Bars show US$ raised; the number under each year is equity rounds. 2026 is year to date. The peak year was 2018, with US$395.04m across 8 rounds.

The funding ladder · five years

Rounds and typical cheque by stage

AngelUS$4.24m5 rounds · median US$289k
SeedUS$10.20m10 rounds · median US$606k
Series AUS$6.87m3 rounds · median US$3.43m
Series BUS$59.83m4 rounds · median US$13.72m
Series CUS$142.79m2 rounds · median US$71.40m
Series D+US$34.18m1 rounds · median US$34.18m
Private equityUS$416.97m5 rounds · median US$32.71m
Where the money went · five years

Most-funded sub-sectors

Traditional pharmaceuticalsUS$639.51m26 rounds · 20 companies
Biopharma outsourcingUS$34.18m1 rounds · 1 companies
Medical research labsUS$1.20m1 rounds · 1 companies
Food & beverage productsUS$200k1 rounds · 1 companies
Traditional nutraceuticalsUS$0k1 rounds · 1 companies
Corporate activity · last 24 months

M&A in India

148Acquisition
8Merger

Most active acquirers

  1. Sun pharmaceutical industries10
  2. Biocon9
  3. Mankind pharma9
  4. Aurobindo pharma8
  5. Corona remedies6

Most acquired or merged

  1. Novartis india7
  2. La Renon Healthcare6
  3. Medley4
  4. Encube ethicals4
  5. Checkpoint therapeutics4

Each deal appears in the events strip at the top of the page.

Traditional pharmaceuticals funding in India

49 traditional pharmaceuticals companies in India have recorded equity funding, US$1.90bn in total. Totals and round dates describe the historical record; they are not current valuations.

Founders and momentum in India

Meet the people behind traditional pharmaceuticals companies in India. 650 of 1,619 companies list founders or leaders; where a public LinkedIn profile matches exactly, the expanded profile shows the photo, headline, location and education.

Explore India traditional pharmaceuticals companies by sub-sector

The most common specialisations among traditional pharmaceuticals companies in India. Open a company to see what it sells, who runs it and how far it has come.

Keep exploring traditional pharmaceuticals in India and nearby markets.

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