H E A LT H C A R E

The Top 10 Pharmaceutical Companies

in India
Growth strategies, performance and SWOT analyses

By Business Insights
Copyright © 2009 Business Insights Ltd
This Management Report is published by Business Insights Ltd. All rights reserved.
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Table of Contents
The Top 10 Pharmaceutical Companies in India

Executive summary 12
Industry overview 12
Cipla 13
Ranbaxy 13
GSK (India) 14
Piramal Healthcare 14
Zydus Cadila 15
Sun Pharma 15
Lupin Laboratories (Lupin) 16
Alkem 16
Sanofi-Aventis (India) 17
Mankind Pharma (Mankind) 17

Chapter 1 Introduction 20
What is this report about? 20
Methodology 20

Chapter 2 Industry overview 24

Summary 24
Introduction 25
Market dynamics 25
Indian pharmaceutical market: size and growth 25
Key market drivers and resistors 26
India’s adoption of product patent regime 27
Evolution of biopharmaceuticals in India 28
Competitive positioning of India in global pharmaceutical market 30

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 Competitive landscape 32
Competitive positioning of the top 10 companies 32
Exposure to US generics market 35
Comparative analysis of the top 10 companies 36
Trends 37
Increasing participation of innovator companies in Indian pharmaceutical
space 37
Pharmaceutical companies making inroads into rural India 38
Shifting focus towards Japanese generics market 39
Growing prevalence of lifestyle diseases 40
Expanding alliances in biopharmaceuticals 41

Chapter 3 Cipla 46
Summary 46
Company overview 47
Marketed products 47
Therapeutic focus 49
Research and development 49
Growth strategies 50
Expanding in international markets through alliances and partnerships 50
Expanding capabilities 50
Growing in the US generics market 51
Acquisitions and divestments 51
SWOT analysis 52

Chapter 4 Ranbaxy 54
Summary 54
Company overview 55
Marketed products 56
Therapeutic focus 56
Research and development 57
Growth strategies 58
Rebuilding business in the US market 58
Shifting focus towards complex products in the US 58
Monetizing the FTF opportunities in the US 58
Improving penetration in emerging markets 59
Strengthening management involvement in Ranbaxy 59
Acquisitions and divestments 60
SWOT analysis 61

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Chapter 5 GSK (India) 64
Summary 64
Company overview 65
Marketed products 66
Therapeutic focus 66
Research and development 67
Growth strategies 68
Augmenting product portfolio in India 68
Leveraging its parent company’s product portfolio 68
In-licensing products 69
Expanding rural presence and hospital sales 69
Acquisitions and divestments 70
SWOT analysis 71

Chapter 6 Piramal Healthcare 74

Summary 74
Company overview 75
Marketed products 75
Therapeutic focus 77
Research and development 77
Growth strategies 78
Capitalize on contract manufacturing opportunities 78
Growing business through alliances and partnerships 78
Acquisitions and divestments 79
SWOT analysis 81

Chapter 7 Zydus Cadila 84

Summary 84
Company overview 85
Marketed products 86
Therapeutic focus 86
Research and development 87
Growth strategies 88
Alliances fostering growth in international generics markets 88
Sustaining revenue growth in Indian formulation business 89

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 Acquisitions and divestments 90
SWOT analysis 91

Chapter 8 Sun Pharma 94

Summary 94
Company overview 95
Marketed products 95
Therapeutic focus 97
Research and development 97
Growth strategies 98
Enhancing presence in the US market 98
Focusing on niche segments in developing markets 98
Plugging gaps in its business through investments 99
Acquisitions and divestments 99
SWOT analysis 100

Chapter 9 Lupin 102

Summary 102
Company overview 103
Marketed products 103
Therapeutic focus 104
Research and development 104
Growth strategies 105
Expanding in European markets 105
Foray into biosimilars market 105
Sustaining growth in the US generics market 106
Shifting focus to chronic and specialized products in India 106
Acquisitions and divestments 106
SWOT analysis 108

Chapter 10 Alkem 110

Summary 110
Company overview 111
Marketed products 111

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 Therapeutic focus 112
Research and development 112
Growth strategies 113
Expanding presence in nutraceuticals business 113
Expansion in international markets 113
Acquisitions and divestments 114
SWOT analysis 114

Chapter 11 Sanofi-Aventis (India) 116

Summary 116
Company overview 117
Marketed products 117
Therapeutic focus 118
Research and development 119
Growth strategies 119
Leveraging parent company’s product portfolio 119
Shifting focus to rural India 120
Acquisitions and divestments 121
SWOT analysis 122

Chapter 12 Mankind 124

Summary 124
Company overview 125
Marketed products 126
Therapeutic focus 126
Research and development 127
Growth strategies 128
Expanding in international markets 128
Investing in pharmaceutical capabilities development 128
Foray into fast growing segments 128
Acquisitions and divestments 129
SWOT analysis 130

Chapter 13 11–20 companies 132

Abbott (India) 132

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Company overview 132
Marketed products 133
Therapeutic focus 134
Research and development 134
Dr Reddy’s 135
Company overview 135
Marketed products 136
Therapeutic focus 137
Research and development 138
Wockhardt 139
Company overview 139
Marketed products 140
Therapeutic focus 140
Research and development 141
Aristo 142
Company overview 142
Marketed products 143
Therapeutic focus 144
Torrent Pharmaceuticals (Torrent) 145
Company overview 145
Marketed products 146
Therapeutic focus 147
Research and development 147
Pfizer (India) 148
Company overview 148
Marketed products 149
Therapeutic focus 150
Research and development 151
Intas 151
Company overview 151
Marketed products 152
Therapeutic focus 152
Research and development 153
Alembic 154
Company overview 154
Marketed products 155
Therapeutic focus 155
Research and development 156
FDC 157
Company overview 157
Marketed products 157
Therapeutic focus 158
Research and development 159
Macleods Pharmaceuticals (Macleods) 160
Company overview 160
Marketed products 161
Therapeutic focus 162
Research and development 162

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Chapter 14 Appendix 164
Glossary 164
Index 168

List of Figures
Figure 2.1: Indian pharmaceutical market size ($m), 2009–14 26
Figure 2.2: Key market drivers and resistors of Indian pharmaceutical market 27
Figure 2.3: Indian pharmaceutical market SWOT analysis 30
Figure 2.4: Top 10 pharmaceutical companies in India market share, 2008 33
Figure 2.5: Top 10 pharmaceutical companies in India growth, 2004–08 34
Figure 2.6: Comparative analysis of the top Indian pharmaceutical companies 37
Figure 2.7: Top 10 pharmaceutical companies in India lifestyle segment market share (%), 2008 41
Figure 3.8: Cipla therapeutic focus, 2007–08 49
Figure 3.9: Cipla SWOT analysis 52
Figure 4.10: Ranbaxy therapeutic focus, 2007–08 57
Figure 4.11: Ranbaxy SWOT analysis 61
Figure 5.12: GSK (India) therapeutic focus, 2007–08 67
Figure 5.13: GSK (India) SWOT analysis 71
Figure 6.14: Piramal Healthcare therapeutic focus, 2007–08 77
Figure 6.15: Piramal Healthcare SWOT analysis 81
Figure 7.16: Zydus Cadila therapeutic focus, 2007–08 87
Figure 7.17: Zydus Cadila SWOT analysis 91
Figure 8.18: Sun Pharma therapeutic focus, 2007–08 97
Figure 8.19: Sun Pharma SWOT analysis 100
Figure 9.20: Lupin therapeutic focus, 2007–08 104
Figure 9.21: Lupin SWOT analysis 108
Figure 10.22: Alkem therapeutic focus, 2007–08 112
Figure 10.23: Alkem SWOT analysis 114
Figure 11.24: Sanofi-Aventis (India) therapeutic focus, 2007–08 119
Figure 11.25: Sanofi-Aventis (India) SWOT analysis 122
Figure 12.26: Mankind therapeutic focus, 2007–08 127
Figure 12.27: Mankind SWOT analysis 130
Figure 13.28: Abbott (India) therapeutic focus, 2007–08 134
Figure 13.29: Dr Reddy’s therapeutic focus, 2007–08 137
Figure 13.30: Wockhardt therapeutic focus, 2007–08 141
Figure 13.31: Aristo therapeutic focus, 2007–08 144
Figure 13.32: Torrent therapeutic focus, 2007–08 147
Figure 13.33: Pfizer (India) therapeutic focus, 2007–08 150
Figure 13.34: Intas therapeutic focus, 2007–08 153
Figure 13.35: Alembic therapeutic focus, 2007–08 156
Figure 13.36: FDC therapeutic focus, 2007–08 159
Figure 13.37: Macleods therapeutic focus, 2007–08 162

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List of Tables
Table 2.1: Indian pharmaceutical market size ($m), 2009–14 25
Table 2.2: Novel product pipeline of select Indian biotechnology companies, 2008 29
Table 2.3: Major foreign acquisitions by Indian pharmaceutical companies, 2007–09 32
Table 2.4: Top 10 pharmaceutical companies in India growth (%), 2004–08 34
Table 2.5: Selected ANDA filings approved in the US, 2009 35
Table 2.6: Deals and alliances in Japanese pharmaceutical market, 2007–09 40
Table 2.7: Selected alliances in the Indian biopharmaceutical market, 2007–09 43
Table 3.8: Cipla snapshot 46
Table 3.9: Cipla top 10 marketed products sales ($m), 2007–08 47
Table 3.10: Cipla new product launches, 2007–08 48
Table 3.11: Approved ANDAs of Cipla in the US, 2007–09 51
Table 4.12: Ranbaxy snapshot 54
Table 4.13: Ranbaxy top 10 marketed products sales in India ($m), 2007–08 56
Table 4.14: Selected Ranbaxy ANDAs with FTF status 59
Table 4.15: Ranbaxy acquisitions, 2007–09 60
Table 5.16: GSK (India) snapshot 64
Table 5.17: GSK (India) top 10 marketed products sales ($m), 2007–08 66
Table 5.18: GSK (India) product launches from parent portfolio, 2007–09 68
Table 5.19: GSK (India) expected new launches in India, 2009–10. 69
Table 6.20: Piramal Healthcare snapshot 74
Table 6.21: Piramal Healthcare top 10 marketed products sales ($m), 2007–08 76
Table 6.22: Piramal Healthcare new product launches, 2007–08 76
Table 6.23: Select Piramal Healthcare’s alliances, 2007–09 79
Table 6.24: Piramal Healthcare acquisitions, 2007–09 80
Table 7.25: Zydus Cadila snapshot 84
Table 7.26: Zydus Cadila top 10 marketed products sales ($m), 2007–08 86
Table 7.27: Zydus Cadila R&D collaborations, 2007–09 88
Table 7.28: Select Zydus Cadila’s alliances, 2005–09 89
Table 7.29: Zydus Cadila acquisitions, 2007–09 90
Table 8.30: Sun Pharma snapshot 94
Table 8.31: Sun Pharma top 10 marketed products sales ($m), 2007–08 95
Table 8.32: Sun Pharma new product launches, 2007–08 96
Table 9.33: Lupin snapshot 102
Table 9.34: Lupin top 10 marketed products sales ($m), 2007–08 103
Table 9.35: Lupin acquisitions, 2007–09 107
Table 10.36: Alkem snapshot 110
Table 10.37: Alkem top 10 marketed products sales ($m), 2007–08 111
Table 11.38: Sanofi-Aventis (India) snapshot 116
Table 11.39: Sanofi-Aventis (India) top 10 marketed products sales ($m), 2007–08 118
Table 11.40: Sanofi-Aventis (India) key brands launches from parent portfolio 120
Table 12.41: Mankind snapshot 124
Table 12.42: Mankind top 10 marketed products sales ($m), 2007–08 126
Table 13.43: Abbott (India) snapshot 132
Table 13.44: Abbott (India) top 10 marketed products sales ($m), 2007–08 133
Table 13.45: Dr Reddy’s snapshot 135
Table 13.46: Dr Reddy’s top 10 marketed products sales ($m), 2007–08 136
Table 13.47: Dr Reddy’s drug development pipeline, 2007–08 138
Table 13.48: Wockhardt snapshot 139
Table 13.49: Wockhardt top 10 marketed products sales ($m), 2007–08 140

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Table 13.50: Aristo snapshot 142
Table 13.51: Aristo top 10 marketed products sales ($m), 2007–08 143
Table 13.52: Torrent snapshot 145
Table 13.53: Torrent top 10 marketed products sales ($m), 2007–08 146
Table 13.54: Pfizer (India) snapshot 148
Table 13.55: Pfizer (India) top 10 marketed products sales ($m), 2007–08 149
Table 13.56: Intas snapshot 151
Table 13.57: Intas top 10 marketed products sales ($m), 2007–08 152
Table 13.58: Alembic snapshot 154
Table 13.59: Alembic top 10 marketed products sales ($m), 2007–08 155
Table 13.60: FDC snapshot 157
Table 13.61: FDC top 10 marketed products sales ($m), 2007–08 158
Table 13.62: Selected FDC new product launches, 2007–08 158
Table 13.63: Macleods snapshot 160
Table 13.64: Macleods top 10 marketed products sales($m), 2007–08 161