Mumbai: Sun Pharmaceutical Industries Ltd, India’s largest drugmaker by sales, is sharpening its focus on innovative medicines and complex generics to drive the next phase of growth, even as its core India and US businesses continue to deliver steady gains.
In its December 2025 investor presentation, the company said consolidated revenues rose 9% year-on-year to ₹5.20 lakh crore in FY25, while EBITDA grew 17% to ₹1.53 lakh crore, lifting margins to 29%. Adjusted net profit climbed 19% to nearly ₹1.20 lakh crore, supported by a stronger product mix and operating leverage.
Innovative medicines have emerged as a key growth engine, contributing about 20% of total sales in FY25, up sharply from 7.3% in FY18. Global innovative medicine sales have grown at a 23% CAGR since FY20, with blockbuster psoriasis drug Ilumya reporting sales of $681 million in FY25. The company currently markets 27 innovative products globally and has six new active substances in its development pipeline.
Geographically, India and the US together accounted for nearly two-thirds of revenues. The domestic formulations business contributed 33% of FY25 sales, with Sun Pharma retaining its position as the largest pharma company in India with an 8.3% market share. In the US, which made up 31% of revenues, the company remains the 13th-largest generics player, backed by a strong pipeline of ANDAs and NDAs and a growing portfolio of specialty and dermatology products.
Emerging markets (18% of sales) and the rest of the world (14%) were highlighted as medium-term growth drivers, with management indicating plans to scale branded generics, expand local manufacturing and selectively add innovative products in these regions.
Sun Pharma said it invested 6.2% of FY25 sales, or about ₹32,500 crore, into research and development, underlining its push towards differentiated and high-entry-barrier products. The company operates 40 manufacturing facilities globally and maintains approvals from major regulators including the USFDA.
Looking ahead, the company is targeting mid- to high-single-digit revenue growth in FY26, with an emphasis on improving return ratios, strengthening its innovative pipeline and maintaining strict regulatory and quality compliance. With a market capitalisation of about $47 billion as of December 2025, Sun Pharma said its balance sheet remains strong, providing headroom for future in-licensing deals and acquisitions.