India is emerging as a major player in the pharmaceutical industry, particularly in the development of cancer drugs. The rising number of cancer cases, both domestic and international, creates immense opportunities for pharmaceutical companies specializing in oncology treatments. As demand for affordable and effective cancer therapies increases, Indian companies are leading in innovation and production. Some of the top manufacturers in this sector are driving advancements in chemotherapy, immunotherapy, and targeted treatments. These trends make cancer-focused pharma stocks a compelling investment opportunity in India.
Government Initiative on Cancer treatment
The recent reduction in GST from 12% to 5% on key cancer drugs is a significant boost for pharmaceutical manufacturers. This move is expected to lower treatment costs, making life-saving medications more affordable. Leading cancer drug producers stand to benefit from increased demand, as the government prioritizes improved healthcare accessibility for patients in need.
Going forward in this article we will see some of the top pharmaceutical companies which specialize in manufacturing oncology products.
List Of Cancer Pharma Stocks
Beta Drugs
Beta Drugs, established in 2005, is a leading manufacturer of oncology drugs and part of the Adley Group. The company employs close to 500 people and has cutting-edge research facilities. Its manufacturing plants are in Solan, Himachal Pradesh, and Derabassi, Punjab.
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Beta Drugs exports its products to over 35 countries and has made a significant breakthrough by becoming the first Indian company to produce oncology drugs in Uzbekistan through a joint venture with SILUJIN Private Co. Ltd. This partnership allows Beta Drugs to tap into the growing demand for cancer treatments in Central Asia, positioning itself as a key player in the region’s oncology market.
Financially, Beta Drugs saw strong growth with revenue rising from ₹227 crore in 2023 to ₹296 crore in 2024. Its net profit also increased from ₹31 crore in 2023 to ₹36 crore in 2024, reflecting its expanding market presence.
Beta drugs’ oncology portfolio shows a shift towards supportive care and hemat products as the percentage of Hemat and supportive care went up from 11% and 16% respectively in FY 21-22 to 19% and 13% in FY 23-24. Meanwhile, oral formulations are gaining ground, steadily rising from 35% to 43% over three years, while injectables declined proportionally.
Future Outlook: Beta Drugs plans to broaden its product portfolio as it is planning to launch 25 new products by 2026. The company will also benefit from government tax cuts on cancer drugs, allowing it to make treatments more affordable while increasing market share. Beta Drugs is also focusing on enhancing its sales to 450+ crores by 2026.
Besides this, the company strategically focuses on domestic and international markets, with a robust pipeline of over 350 registrations in development. The company is also targeting to expand its presence in Southeast Asia, Latin America, and the Middle East.
Beta Drugs is also enhancing its API manufacturing capabilities with non-infringing processes and cost efficiency being the focal point. Additionally, the company is also working towards developing a 10Cr.+ Oncology brand in the coming years, with its primary target being on the Hemato and Uro oncology products.
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Shilpa Medicare
Shilpa Medicare, established in 1987, is one of India’s largest Active Pharmaceutical Ingredient (API) manufacturers, particularly in oncology. The company operates 2 WHO-GMP-approved manufacturing plants in Karnataka and Telangana, known for their quick production capabilities and high-quality output.
Shilpa Medicare’s state-of-the-art facilities allow it to manufacture APIs efficiently, supplying both domestic and international markets. The company exports over 70 products including APIs to all the world’s major regions. With a primary focus on complex formulations and innovative cancer treatments.
In 2023, Shilpa Medicare reported revenue of ₹1,051 crore, which increased to ₹1,152 crore in 2024. Despite a net loss of ₹32 crore in 2023, the company turned profitable with a net profit of ₹31 crore in 2024, signaling a strong recovery. The company’s API business shows a diverse portfolio in FY24.
Oncology APIs lead with 46% of the business, despite a slight 4% decrease. Non-oncology APIs follow closely at 45%, growing by 13% in FY24 as compared to FY23. Notably, CDMO and polymer segments, though smaller, exhibit significant growth at 99% and 162% respectively. These emerging areas now constitute 5% and 2% of the API business. Meanwhile, the ‘Others’ category shrunk by 73%, now accounting for just 2% of API revenue. Overall, the company’s API business grew by 2%, reaching 772.2 crores in FY24.
Future Outlook: Shilpa medicare plans to invest heavily in research and development, aiming to introduce new biosimilars and complex oncology formulations. The company is focused on expanding its R&D capabilities to develop advanced therapies. Shilpa Medicare’s future outlook is promising, as it gears up for significant growth in both the Active Pharmaceutical Ingredient (API) and formulations segments.
With 244 Drug Master File (DMF) filings across major global regulatory bodies, the company is positioning itself as a key player in the pharmaceutical market. Its robust regulatory filings, including 501 for Rest of World (ROW) markets and 74 in the EU, reflect a strong commitment to expansion.
By focusing on research and development of new biosimilars and complex oncology formulations, The company will also benefit from the Indian government’s tax reductions on cancer drugs. This will enable Shilpa Medicare to offer affordable treatments while driving global innovation and enhancing its market presence.
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Gland Pharma
Gland Pharma, founded in 1978, is a major player in injectable therapies, including oncology treatments. With multiple USFDA and EU-approved manufacturing facilities in India, Gland Pharma is renowned for producing high-quality injectable oncology drugs. The company exports its products to over 60 countries, focusing on complex injectables and biosimilars.
Gland Pharma specializes in chemotherapy injectables and has an extensive oncology product portfolio, making it a leader in cancer care solutions. Besides this, Cenexi, a subsidiary of Gland Pharma, experienced both progress and challenges in the US market during FY24, launching 89 product SKUs. As of March 31, 2024, the company and its partners had submitted 349 ANDAs, of which 286 were approved and 63 remained pending. For the full fiscal year, the company filed 19 ANDAs, received 24 approvals, and submitted 2 DMFs.
In 2023, Gland Pharma reported revenue of ₹3,624 crore, which significantly grew to ₹5,664 crore in 2024. However, its net profit slightly declined from ₹781 crore in 2023 to ₹772 crore in 2024, reflecting rising operational costs amid expansion.
Future Outlook: Gland Pharma plans to expand its oncology drug offerings, particularly biosimilars and complex injectables. Added to this Cenexi’s US market outlook appears promising. The company has demonstrated its ability to navigate regulatory processes and bring new products to market.
With a substantial number of approved ANDAs and more in the pipeline, Cenexi is well-positioned to expand its product portfolio. The successful relaunch of previously discontinued products also indicates the company’s resilience and adaptability in addressing market challenges.
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Venus Remedies
Venus Remedies, founded in 1989, is a specialized pharmaceutical company focusing on oncology and anti-infective drugs. The company operates WHO-GMP-certified manufacturing plants and has a presence in close to 50 countries. Venus Remedies’ expertise in producing life-saving cancer drugs like Gemcitabine and Paclitaxel positions it as a trusted name in oncology. The company’s focus on research-driven innovations in cancer treatments allows it to maintain a strong global presence.
In 2023, Venus Remedies generated revenue of ₹556 crore, which increased to ₹601 crore in 2024. The company’s net profit rose from ₹26.6 crore in 2023 to ₹28.5 crore in 2024, reflecting stable financial growth.
Future Outlook: Venus Remedies plans to expand its oncology portfolio and enhance its R&D capabilities to develop innovative therapies. The company aims to revolutionize healthcare by 2026 through ambitious goals. The company is focusing on developing innovative antimicrobial therapies and expanding its global presence to 100 countries.
It plans to achieve a turnover of ₹1000 crores while building brand equity among healthcare providers and consumers. Additionally, Venus Remedies is planning to invest in technology to prepare its workforce for the fourth industrial revolution. This comprehensive strategy positions Venus Remedies for significant growth and impact in the coming years.
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Pfizer
Pfizer, established in 1849 and headquartered in New York City, is a pharmaceutical leader with a robust oncology presence in India. The company operates manufacturing plants in Goa, Vizag, and Chennai, ensuring swift drug production and distribution. The company collaborates with local partners to expand its reach and deliver effective cancer therapies.
With over 80,000 global employees. The pharma giant continues its commitment to oncology through cutting-edge research, aiming to improve cancer care in India and worldwide. Their extensive infrastructure continues to solidify their leadership in the healthcare sector.
In 2023, Pfizer India reported revenue of ₹2,425 crore, which declined to ₹2,193 crore in 2024. The company’s net profit also decreased from ₹624 crore in 2023 to ₹551 crore in 2024, reflecting challenging market conditions.
Future Outlook: Pfizer is advancing its obesity treatment efforts, particularly with ongoing Danuglipron trials. Nevertheless, researchers won’t anticipate safety and efficacy results until 2026. In the interim, the company is expanding its digital presence through PfizerForAll. This platform connects patients with healthcare providers for various conditions, thereby broadening its scope beyond obesity treatments.
Furthermore, Pfizer’s collaboration with cancer drug maker Seagen is promising. Their combined pipeline is poised to deliver at least eight blockbuster drugs by 2030. Consequently, this partnership positions both companies for significant growth in the oncology market.
Additionally, this alliance aligns with Pfizer’s long-term strategy to enhance its portfolio of impactful medications. As a result, it underscores the potential for innovative therapies. Overall, Pfizer is making strides in multiple areas, from obesity treatments to digital health platforms and oncology partnerships.
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Zydus Lifesciences
Zydus Lifesciences is one of India’s largest pharmaceutical companies, with a strong focus on oncology. The company operates cutting-edge manufacturing facilities in Gujarat, which are accredited by WHO-GMP, USFDA, and EMA, ensuring the production of high-quality cancer treatments.
Zydus specializes in a broad range of oncology products, including biosimilars like Bevacizumab, Trastuzumab, and Rituximab, as well as chemotherapy and immunotherapy drugs. These treatments cater to both domestic and international markets, with Zydus exporting its products to over 100 countries, solidifying its global presence in cancer care.
In 2023, Zydus Lifesciences reported revenue of ₹17,237 crore, which grew to ₹19,547 crore in 2024. The company’s net profit surged from ₹2,091 crore in 2023 to ₹3,972 crore in 2024, reflecting its strong market performance and global expansion.
Future Outlook: With marketing authorization for a cancer treatment drug in Mexico and a supply agreement with MSN for a generic cancer drug in the US, Zydus Lifesciences is well-positioned for future growth. These developments enhance its oncology portfolio and expand its market presence across key regions, driving long-term opportunities in the pharmaceutical industry
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Conclusion
Indian pharmaceutical companies are leading the charge in cancer drug innovation. Furthermore, they’re expanding globally, reaching more patients worldwide. However, challenges remain in this competitive industry. Nevertheless, government support through tax cuts is boosting affordability and access.
As a result, these companies are poised for significant growth. Moreover, their focus on research and development promises exciting breakthroughs. In conclusion, cancer-focused pharma stocks in India offer compelling investment opportunities. Therefore, investors should closely monitor this dynamic sector for potential gains.
Questions for readers: How might the global expansion of Indian pharma companies impact cancer treatment accessibility worldwide? What potential breakthroughs in cancer therapy could emerge from these companies’ R&D efforts? Comment below.
Written By Dipangshu Kundu
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