Pharma Exports Surge to Rs 2.3 Lakh Crore in FY24, Doubling Since FY14

In the financial year 2024, India's pharmaceutical exports totaled Rs 2.3 lakh crore, an increase from Rs 1.1 lakh crore in FY14. Pharma exports increased by 8.36% from Rs 17,750 crore in July 2023 to Rs 18,670 crore in July 2024. The government anticipates that India’s pharmaceutical market will achieve Rs 7.5 lakh crore by 2025, expanding at a rate of 10-12%, backed by robust domestic production and increasing exports. India holds the third position worldwide in drug production by volume and exports its products to more than 200 nations.

Some companies experienced an increase in their market capitalisation, whereas others fell in the BT500 rankings even after implementing the right strategies. Others encountered obstacles in innovation, regulatory challenges, and market placement.

Sun Pharmaceutical Industries experienced a 45% increase in its market capitalisation, reaching Rs 3.5 lakh crore, climbing four positions in the BT500 ranking, as shareholders appear to positively endorse its strategies. The firm demonstrated consistent growth in FY24, with total sales increasing by 10% to Rs 47,759 crore. Sales of its formulation increased by 9.5% in the local market, reaching Rs 14,889 crore. The secrets to its expansion: innovative offerings and tactical advertising.

Zydus Lifesciences announced an 80% rise in market capitalisation to Rs 92,068 crore, elevating its position by 13 spots in the BT500 ranking. Zydus's presentation showcases the achievement of broadening its product range and increasing its presence in important global markets. Companies like Sun Pharma, Zydus, Divi's Laboratories, and Cipla are well-placed to benefit from worldwide trends—diversifying pharmaceutical supply chains and increasing need for manufacturing solutions.