Top 20 Generic Pharma Companies of 2024

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Known for delivering the same therapeutic benefits as its brand-name counterpart, it won't be an exaggeration to refer to generic drugs as modern-day advocates for health equity
In 2022, the global market size of generic drugs was valued at $411.99B and is envisioned to reach $613.34B by 2030 with a CAGR of 5.10%. Sandoz ranks first in our list with a total of $9.64B generic segment revenue followed by Teva Pharmaceuticals with $8.73B & Sun Pharma with $5.7B respectively
PharmaShots brings a succinct report on the Top 20 Generic Pharma Companies based on 2023 revenue

Rank	Companies	Revenue (2022 $B)	Revenue (2023 $B)	Percent change (%)
1	Sandoz	9.06	9.64	6.37
2	Teva	8.6	8.73	1.53
3	Sun Pharma	5.12	5.7	11.27
4	Viatris	6.32	5.58	11.7
5	Fresenius Kabi	4.32	4.63	6.98
6	Cipla	2.62	2.93	11.86
7	Dr.Reddy	2.49	2.86	15.22
8	Lupin	1.94	2.34	20.36
9	Aspen	2.25	2.33	3.4
10	Zydus	1.06	2.04	91
11	KRKA	1.68	1.81	7.67
12	Towa Pharmaceutical	1.37	1.68	21.94
13	STADA	1.56	1.67	7.32
14	Gilead	1.645	1.6	2.31
15	Glenmark	1.52	1.59	4.46
16	Amneal	1.43	1.47	2.72
17	Biocon	0.85	1.36	59.17
18	Aurobindo Pharma	1.46	1.35	7.38
19	Sawai	1.49	1.31	12.28
20	Torrent Pharma	1.13	1.26	11.76

Note: Columns 1 and 2 represent ranks and companies, while Columns 3, 4, and 5 showcase the total Oncology revenue of 2022, the total revenue of 2023, and the percentage change.

20. Torrent Pharma

Generic Segment Revenue: $1.26B

Founded Year: 1959

Market Cap: $13.62B

Total Employees: 15,718

Headquarters: Ahmedabad, India

Stock Exchange: NSE

Torrent Pharma focuses on developing branded generics and generics solutions for chronic and sub-chronic diseases
Pantor 20/40, Dilzem, and Valparin-200 are among the several generic products in Torrent's portfolio. In 2023, the company reported an increase of 11.76% in its generic revenue as compared to 2022, due to high-volume sales
In Nov’23, Torrent Pharma reported signing a licensing agreement with Zydus for co-marketing Saroglitazar Mg. (Vorxar) in India

19. Sawai

Generic Segment Revenue: $1.31B

Founded Year: 1929

Market Cap: $1.93B

Total Employees: 2,634

Headquarters: Osaka, Japan

Stock Exchange: TYO

Sawai is a Japan-based pharmaceutical company, known for the development, manufacturing, and commercialization of various generic products
Sawai's generic portfolio comprises products including Rivaroxaban, Vildagliptin, Saxagliptin Hydrate, and Hydroxychloroquine Sulfate among others. In 2023, the company’s generic segment revenue decreased by 12.28% as compared to 2022 due to low demand for its generic products
In Nov’23, Sawai launched the Pitavastatin tablet in the US through Upsher-Smith Laboratories

18. Aurobindo Pharma

Generic Segment Revenue: $1.35B

Founded Year: 1986

Market Cap: $10.49B

Total Employees: 26,015

Headquarters: Hyderabad, India

Stock Exchange: NSE

A global pharmaceutical company, Aurobindo Pharma develops, manufactures, and commercializes a broad range of generic drugs, branded specialty pharmaceuticals, and active pharmaceutical ingredients.
Under the company’s generic portfolio, Aurobindo has generic versions of Zovirax and Xanax XR. In 2023, Aurobindo's generic revenue dropped by 7.38% vs. 2022 due to low demand of its generic products
In Aug’23, the US FDA approved Aurobindo Pharma’s Saxagliptin tablets (2.5 mg and 5 mg)

17. Biocon

Generic Segment Revenue: $1.36B

Founded Year: 1978

Market Cap: $5.30B

Total Employees: 16,315

Headquarters: Bengaluru, India

Stock Exchange: NSE

Biocon develops and manufactures generic formulations, biosimilars, and complex active pharmaceutical ingredient
Atorvastatin, Labetalol, Aminocaproic Acid, and Dorzolamide are among the many generic formulations that Biocon prepares. In contrast to 2022, Biocon reported an increase of 59.17% in revenue in 2023 owing to high demand for generic products
In Dec’23, Biocon partnered with Sandoz for the distribution of Adalimumab biosimilar in Japan

16. Amneal

Generic Segment Revenue: $1.47B

Founded Year: 2002

Market Cap: $2.58B

Total Employees: 7,700

Headquarters: Bridgewater, New Jersey

Stock Exchange: NASDAQ

A multinational pharmaceutical company, Amneal develops, manufactures, markets, and commercializes various pharmaceutical products, including generics, injectables, biosimilars, and specialty branded pharmaceuticals
Abiraterone Acetate, Bexarotene, and Chloroquine Phosphate are among the company's generic portfolio. Amneal's 2023 Generic revenue spiked by 2.72% vs. 2022 owing to new generic product launches
In Sep’23, Amneal’s Sevelamer carbonate received approval in China

15. Glenmark

Generic Segment Revenue: $1.59B

Founded Year: 1977

Market Cap: $473.64B

Total Employees: 15,556

Headquarters: Mumbai, India

Stock Exchange: NSE

A research-based global pharmaceutical company, Glenmark's formulation business comprises three segments viz. branded, generics, and OTC
Telma and Glenza are among many products in the company's generic portfolio. The generic revenue surged 4.46% in 2023 as compared to 2022, due to high volume demands for generic products
In Nov’23, the US FDA granted ANDA approval to Glenmark’s Fluphenazine Hydrochloride tablets (1 mg, 2.5 mg, 5 mg, and 10 mg)

14. Gilead

Generic Segment Revenue: $1.6B

Founded Year: 1987

Market Cap: $102.35B

Total Employees: 18,000

Headquarters: Foster City, California United States

Stock Exchange: NASDAQ

Gilead is a biopharmaceutical company that develops innovative therapeutic solutions for the treatment of life-threatening conditions
Gilead's generic portfolio comprises Harvoni & Epclusa. The generic revenue dropped by 2.31% in 2023 as compared to 2023, primarily driven by low reported sales of both Harvoni & Epclusa
In Aug’23, the US FDA approved Gilead’s Veklury (Remdesivir) for the treatment of COVID-19 in People with mild, moderate, and severe Hepatic Impairment

13. STADA

Generic Segment Revenue: $1.67B

Founded Year: 1895

Market Cap:

Total Employees: 11,700

Headquarters: Bad Vilbel, Germany

Stock Exchange: FSE

STADA is a healthcare and pharmaceutical company that focuses on delivering therapies in immunology, oncology, nephrology, neurology, ophthalmology, and bone health. The company operates in three segments consumer healthcare, generic, and specialty products
STADA's generic portfolio comprises products, including Tilidine, Atorvastatin, and Pantoprazole among others. The generic segment revenue spiked by 7.32% in 2023 as compared to 2022 owing to high reported sales of its generic products
In Apr'23, STADA entered a collaboration with Xbrane to launch ranibizumab across the European market

12. Towa Pharmaceutical

Generic Segment Revenue: $1.68B

Founded Year: 1951

Market Cap: $1.11B

Total Employees: 3,519

Headquarters: Osaka, Japan

Stock Exchange: TYO

Towa Pharmaceutical Co. is a Japan-based pharmaceutical company that research, develops, manufactures, and markets generic products
Towa operates in a single segment of generic formulations which include generic such as Ambroxol capsules and Ropinirole tablets. The company's revenue rose by 21.95% in 2023 as compared to 2022, due to high reported sales of new products launched in 2022
In Dec’23, Towa Pharmaceutical announced the introduction of Oseltamivir tablets and Levocarnitine oral solution in the Japanese market

11. KRKA

Generic Segment Revenue: $1.81B

Founded Year: 1954

Market Cap: $4.72B

Total Employees: 11,780

Headquarters: Novo Mesto, Slovenia

Stock Exchange: WSE

KRKA is a multinational pharma company that develops and markets generic healthcare products. The company develops prescription and non-prescription pharmaceutical products along with animal healthcare products.
Prescription generics include products such as Rivaroxia and Zomiren. In 2023, KRKA’s total Generic segment revenue increased by 7.67% as compared to 2022, due to the increased generic products sales
In Jan’24, KRKA and India’s Laurus Labs agreed to form a joint venture, KRKA Pharma, in India

10. Zydus

Generic Segment Revenue: $2.04B

Founded Year: 1952

Market Cap: $12.78B

Total Employees: 26,921

Headquarters: Ahmedabad, India

Stock Exchange: NSE

A multinational life science company, Zydus discovers and develops pharmaceutical products i.e. formulations, active pharmaceutical ingredients (APIs), and animal healthcare products
Acamprosate calcium DR tablets and Acetazolamide ER capsules are among the company's various generic products. In 2023, the company’s generic revenue increased massively by 91% as compared to 2022, due to increased products sales [SC2]
In Dec’23, the US FDA granted the final approval for Zydus’ Lacosamide tablets, a generic anti-epileptic medication for partial-onset seizures and primary generalized tonic-clonic seizures.

09. Aspen

Generic Segment Revenue: $2.33B

Founded Year: 1850

Market Cap: $5.04B

Total Employees: 8,887

Headquarters: Durban, South Africa

Stock Exchange: JSE

Aspen is a multinational biopharma company that develops and markets post-patent branded medicines and domestic brands, serving both hospital and consumer markets through its manufacturing and commercial pharmaceuticals segments
Aspen manufactures sterile injections, oral solid doses, liquids, semi-solids, and biologicals, and provides APIs to the pharmaceutical market. In 2023, Aspen's generic revenue registered an increase of 3.4% vs 2022, due to organic growth
In Aug’23, Aspen entered into a distribution and promotion agreement with Eli Lilly in South Africa and the rest of Sub-Saharan Africa

08. Lupin

Generic Segment Revenue: $2.34B

Founded Year: 1968

Market Cap: $12.06B

Total Employees: 22,000

Headquarters: Mumbai, India

Stock Exchange: NSE

An Indian multinational pharma company, Lupin develops and delivers a wide range of pharmaceutical products. The company provides Branded and Generic Formulations, Biosimilars, and Active Pharmaceutical Ingredients (APIs)
Under its generic product, the company manufactures products like Ab-Next, Abdowell, and Adhero. In 2023, the company's generic revenue boosted by 20.36% as compared to 2022, primarily driven by market growth
In Dec’23, the US FDA granted ANDA approval to Lupin for Loteprednol Etabonate Ophthalmic Suspension

07. Dr. Reddy

Generic Segment Revenue: $2.86B

Founded Year: 1984

Market Cap: $13.38B

Total Employees: 27,048

Headquarters: Hyderabad, India

Stock Exchange: NYSE

A multinational pharmaceutical company, Dr. Reddy’s Laboratories develops and commercializes generic formulations and proprietary products to treat various health conditions. The company operates in three business segments: global generics, pharmaceutical services & active ingredients (PSAI), and others
Dr. Reddy manufactures various generic products including Lenalidomide capsules, Treprostinil injections, and Regadenoson injections. In 2023, the total generic revenue increased by 15.22% as compared to 2023, due to high sales reported in the global generic segment
In Aug’23, Dr. Reddy launched generic Saxagliptin and Metformin hydrochloride extended-release tablets in the US

06. Cipla

Generic Segment Revenue: $2.93B

Founded Year: 1935

Market Cap: $15.65B

Total Employees: 37,327

Headquarters: Mumbai, India

Stock Exchange: NSE

Cipla is a biopharma company that develops complex generics in Respiratory, Urology, Cardiology, Neurology, Anti-infectives, and Anti-retroviral diseases. It operates in two segments Pharmaceutical and New Ventures
Cipla's generic portfolio contains Foracort, Budecort, Duolin, Seroflo, and many more. In 2023, the company's generic revenue increased by 11.86% as compared to 2022 owing to increased revenue growth, reported in its chronic portfolio
In Mar’23, the US FDA accepted ANDA for Cipla's lenalidomide

05. Fresenius Kabi

Generic Segment Revenue: $4.63B

Founded Year: 1999

Market Cap: $20.92B

Total Employees: 193,865

Headquarters: Bad Homburg, Germany

Stock Exchange: ETR

Fresenius Kabi is the subsidiary of Germany-based multinational healthcare company Fresenius SE & Co. KGaA. The company develops medicines and technologies for the treatment of chronic conditions with a focus on MedTech, nutrition, biopharmaceuticals, and pharma business
Fresenius Kabi’s generic products comprise Adalimumab, Pegfilgrastim, Tocilizumab, and Ustekinumab. In 2023, the overall generic revenue showed an increase of 6.98% as compared to 2022, mainly driven by high biosimilar sales
In Sep’23, Fresenius Kabi’s Tyenne (Tocilizumab biosimilar) received EC’s approval for multiple inflammatory and immune-mediated conditions

04. Viatris

Generic Segment Revenue: $5.58B

Founded Year: 2020

Market Cap: $13.45B

Total Employees: 33,000

Headquarters: Pennsylvania, United States

Stock Exchange: NASDAQ

Viatris develops and delivers Branded, Generics, and Complex medicines in a wide range of therapy areas
Viatris' generic portfolio includes Abacavir, Abiraterone, Acamprosate, and Acebutolol. In 2023, Viatris' generic revenue decreased by 11.7% as compared to 2023, due to low reported sales of its generic medicines globally
In Jul’23, Viatris launched the Breyna, a generic version of Symbicort for Asthma and Chronic obstructive pulmonary disease, in collaboration with Kindeva

03. Sun Pharma

Generic Segment Revenue: $5.7B

Founded Year: 1983

Market Cap: $54.01B

Total Employees: 15,999

Headquarters: Mumbai, India

Stock Exchange: NSE

An Indian multinational pharmaceutical company, Sun Pharma develops and commercializes Generics & Branded Generics medicines, Specialty medicines, OTC, and APIs,
Sun Pharma's generic portfolio comprises over 2000 molecules comprising generic medicines for Absenz, Acamprol, Betavert, Clofranil, and more. In 2023, the company's generic revenue spiked by 11.27% as compared to 2023, due to high volume demand for generic medicines
In Feb’23, the US FDA approved Sun Pharma’s generic Lenalidomide capsules

02. Teva Pharmaceuticals

Generic Segment Revenue: $8.73B

Founded Year: 1944

Market Cap: $19.88B

Total Employees: 37,851

Headquarters: Tel Aviv, Israel

Stock Exchange: TLV

A multinational Israel-based pharmaceutical company, Teva develops and commercializes specialty medicines, OTC, biopharma, and generic products. The company operates through three reporting business segments viz North America, Europe, and international markets
Acitretin capsules (Soriatane), Acyclovir ointment (Zovirax), Adapalene Gel (Differin), and Capecitabine tablets (Xeloda) are among Teva's generic products. In 2023, the company reported an increase in its generic revenue by 1.53% vs. 2022. The increase in revenue can be attributed to high sales volume in Europe
In Nov’23, the US FDA approved Teva’s generic version of teriparatide injection

01. Sandoz

Generic Segment Revenue: $9.64B

Founded Year: 1886

Market Cap: $17.80B

Total Employees: 22,633

Headquarters: Basel, Switzerland

Stock Exchange: SWX

Sandoz develops, manufactures, and markets off-patent medicines (generics and biosimilars) and operates under a single business segment
With more than 400 generic products in its pipeline and 11 marketed biosimilars, Sandoz boasts a global presence in more than 100 countries. Erelzi, Hyrimoz, Zessly, and Zarxio are among Sandoz's biosimilars portfolio. In 2023, Sandoz’s generic revenue increased by 6.37% as compared to 2022 due to an increase in overall sales globally
In Sep’23, Sandoz received the EMA’s CHMP positive opinion of biosimilar Trastuzumab for breast and gastric cancer

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