Biotech exposure from discovery to contract manufacturing, tiered by what stage the business is actually at.
Torrent Pharma has expanded strategic focus into biologics (particularly oncology), supported by in-house API capabilities and a Bioequivalence Centre, though biologics is not a main revenue driver.
“We also expanded our strategic focus into biologics, particularly oncology, while our in-house API capabilities and Bioequivalence Centre continue to support speed, quality, and execution.”
Laurus operates a dedicated Bio division (3% of FY25-26 revenue) built on fermentation-led biomanufacturing, is establishing gene therapy and ADC process development labs in Hyderabad, and serves biotech customers through its CDMO platform.
“Beyond small molecules, we are strengthening our presence in biotechnology, large molecules, cell and gene therapies, while broadening our offerings across human and animal health, crop science and specialty ingredients.”
“Our Bio CDMO business is built on large-scale microbial fermentation and downstream processing capabilities, supporting global customers across development and manufacturing of bio-based products, specialty ingredients and industrial biotechnology applications.”
Cipla is investing in next-generation biotech modalities such as biosimilars and oligonucleotides, alongside commercial biosimilar and complex oncology injectable launches in North America.
“We are advancing next-generation modalities, including oligonucleotides and biosimilars, supported by focused R&D investments and strategic collaborations.”
Through BSV (Bharat Serums and Vaccines) and its in-house R&D, Mankind develops and manufactures biologics, vaccines, recombinant/biosimilar products (e.g., Insulin Aspart, recombinant FSH, immunoglobulins) and is setting up a biologics drug substance facility in Vadodara.
“Complex R&D platform across recombinant tech, niche biologics, immunoglobulins and complex delivery systems.”
Through CuraTeQ Biologics and TheraNym Biologics, Aurobindo develops and manufactures biosimilars (Dazublys, Dyrupeg, Zefylti, Bevqolva commercialized in EU/UK/Canada) and operates a biologics CMO with MSD as anchor customer; a real revenue stream but secondary to its core generic formulations/API business.
“CuraTeQ Biologics, a wholly-owned subsidiary of Aurobindo Pharma, is developing a portfolio of biosimilars aimed at widening patient access to complex, high-cost biologic therapies.”
“We are enhancing presence in complex, niche, and specialty segments, such as oral solids, sterile injectables, biosimilars, semi-synthetic, and peptide-based products. 58% of our FY26 R&D spending was in these areas”
Biosimilars are part of Lupin's current diversified pharmaceutical portfolio alongside generics, complex generics and specialty medicines.
“Our diversified portfolio spans generics, complex generics, specialty medicines, and biosimilars, enabling us to address evolving healthcare needs and deliver high-quality, accessible solutions at scale.”
Alkem operates a biotech platform through Enzene Biosciences covering biosimilars and a Bio-CDMO initiative in New Jersey, with regulatory filings (USFDA, EMA, CEP) and European commercialisation imminent.
“We are building capabilities in next-generation biologics and complex molecules through Enzene Biosciences, strengthening our presence across the biotechnology value chain.”
“Enzene Biosciences, the biosimilar and contract development and manufacturing platform, is moving from build phase into commercial activation.”
Abbott India operates a stated 'Vaccines' key business area marketing biologics such as Influvac (influenza), Pneumoshield 14 (pneumococcal) and Havshield (hepatitis A), but it is one of several therapeutic segments rather than the principal business.
“The Vaccines business advanced a prevention-focused agenda across pediatric and adult immunization, helping protect individuals and communities against vaccine-preventable diseases, including influenza, pneumococcal disease, hepatitis A, typhoid, and Japanese encephalitis.”
Subsidiary 3xper Innoventure provides biotech CDMO services from lab-scale to commercial-scale manufacturing for global clinical customers.
“The venture into Contract Development and Manufacturing Operations (CDMO) through 3xper Innoventure Limited is showing significant promise. 3xper now offers a comprehensive suite of services, ranging from small-scale lab material generation to full commercial-scale manufacturing.”
Wockhardt self-identifies as an antibiotics-research-based global pharmaceutical and biotech company, with proprietary novel antibiotic drug discovery (e.g., Zaynich, the first NCE antibiotic discovered and developed by an Indian company to receive US FDA approval), biosimilars and insulin analogue development, and USFDA QIDP status for 6 anti-bacterial discovery programmes.
“Wockhardt is an Antibiotics research based Global Pharmaceutical and Biotech Company employing over 3200 people from 27 nationalities with presence in USA, UK, Ireland, Switzerland, Mexico, Russia and many other Countries.”
“Second one is the Drug Discovery of Novel Antibiotics within the AMR space which Wockhardt has been actively pursuing for past 25 years. Wockhardt has 6 QIDP grants from the USFDA for each of its clinical-stage pipeline products.”
PI Health Sciences operates a pharmaceutical CRDMO platform with sites in Jaipur, Hyderabad and Lodi (Italy), one of two stated strategic business platforms, though still being scaled versus the dominant AgChem business.
“PIHS is an integrated pharmaceutical Contract Research, Development and Manufacturing Organization (CRDMO) platform. Investments in discovery capabilities, digital tools and global manufacturing infrastructure positions PI as a credible partner for biotech and mid & large sized pharmaceutical innovators.”
“PIHS Hyderabad - CRO Facility”
“Capability building for Pharma CRDMO and Biologicals businesses”
Granules acquired Senn Chemicals AG (Switzerland) to enter peptide CDMO services; Peptide CDMO emerged as a distinct fourth revenue pillar contributing 3% of revenue in FY26.
“We entered the peptide therapeutics and CDMO space through the acquisition of Senn Chemicals based in Switzerland and subsequent ongoing build out in India.”
“Peptide CDMO platform Digital quality infrastructure”
Shilpa Biologicals (SBPL) is an integrated biopharmaceutical platform developing biosimilars (Adalimumab, Aflibercept, Nivolumab, Pembrolizumab), novel biological entities, antibody-drug conjugates, and recombinant human albumin (Srbumin in Phase III), and offers end-to-end biologics CDMO services from its Dharwad facility; growing ~100% YoY but smaller than the core Formulations segment.
“The Biologics segment delivered revenue of ₹149 Crores in FY26, growing at nearly 100% YoY.”
Pfizer India runs substantive vaccine medical affairs (including the 20-valent pneumococcal conjugate vaccine) and advanced-therapy discussions in atopic dermatitis, but these sit alongside multiple other therapy areas rather than being the sole or principal business.
“The introduction of the 20-valent pneumococcal conjugate vaccine for adults during FY 2026 represented an advancement in disease prevention.”
Jubilant Pharmova operates biotech CRO/CDMO services spanning biologics fill-finish (CDMO Sterile Injectables, ~15% of revenue), biologics/ADC development (CRDMO, ~9% of revenue), and a clinical-stage Proprietary Novel Drugs pipeline (JBI-802, JBI-778) in oncology and autoimmune disorders.
“The strategic partnership with Pierre Fabre, France, has expanded our footprint in Europe in biologics (mAbs) and Antibody-Drug Conjugates (ADCs)”
Indegene provides biotech CRO services including patient identification/recruitment, rare-disease recruitment, AI-enabled clinical operations and data management, and patient engagement for biopharma clinical trials.
“Enterprise Clinical Solutions is where we are most actively investing to build our next growth platform - bringing together data, AI, clinical operations and patient engagement into a single execution model for biopharma sponsors.”
Hikal provides CDMO services to biotech and Tier-2 innovator customers, including HPAPI, ADC, PDC and PROTAC development capabilities, but this is not yet a primary revenue driver.
“Diversified the customer portfolio through expansion into biotech companies and Tier-2 innovators, supported by advanced HPAPI capabilities and the Pune R&T Centre”
“The Company is actively investing in platforms for high-growth, innovation-led therapeutic segments, specifically High-Potency Active Pharmaceutical Ingredients (HPAPIs) and Antibody-Drug Conjugate (ADC) chemistries.”
Through subsidiary ITCPL and a USFDA-approved pharma lab in Bengaluru, Qualitek provides pharmaceutical testing, drug discovery support, method validation and technology transfer — biotech CRO/CDMO-type services as one of several business segments.
“Its capabilities encompass Drugs & Pharmaceuticals, Nutraceuticals, Food, Water, Chemicals, Cosmetics, Herbal Products, Environment & Sustainability, Building Materials and Mechanical testing, among other areas. ITCPL also undertakes research and development activities, including drug discovery, method validation and technology transfer, supporting pharmaceutical and other life-science customers.”
The company's stated business includes manufacturing of Biotech Products alongside bulk drugs and intermediates, though its only reportable segment is Pharmaceutical Products (Bulk Drugs).
“Gennex Laboratories Limited is in the business of Manufacturing of Bulk Drugs, Intermediates and Biotech Products.”
Definition used: Discovers, develops or manufactures biologic drugs, vaccines, biosimilars, cell/gene therapies, or provides biotech CRO/CDMO services. Membership is extracted from each company’s newest annual report; every quote is validated against the report page before publishing, and core/growing tiers are confirmed by a second independent read (marked ). Companies whose reports our corpus hasn’t read yet simply aren’t listed — absence means unread, not “no exposure”.
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