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The BSE Healthcare index of 126 companies moved up by 12.7 per cent during the first half ended June 2026 as against broad based BSE Sensex index of 30 companies which declined by 10.2 per cent.
Despite stiff competition in international market, supply chain constraints due to US-Israel-Iran war, and geopolitical disruptions, pharma shares remained in limelight with new launches, higher R&D spending, hefty returns in the form of dividend and acquisitions. The BSE Healthcare index touched to its all time high at 49,561 points at the end of June 2026 as compared to its lowest figure of 40,239 points on April 2, 2026. BSE Healthcare index closed at 49,305 points on June 30, 2026 and BSE Sensex closed at 76,478.67 points. NIFTY Pharma index of 20 pharmaceutical companies also improved by 12 per cent to 25326 points during the first half ended June 2026 from 22632 points.
Major shares like Aurobindo Pharma, Bliss GVS Pharma, Caplin Point Labs, Emcure Pharma, Gland Pharma, Granules India, IOL Chemical, Kwality Pharma, Laurus Labs, Lincoln Pharma, Marksans Pharma, Morepen Labs, Panacea Biotec, Shilpa Medicare, Sun Pharma Advance Research Co (SPARC), Wockhardt, etc posted handsome gain of over 30 per cent during the first half ended June 2026. Bliss GVS shares jumped by 233 per cent to Rs. 539.75 on June 30, 2026 from Rs. 162 on January 1, 2026. Further, Ajanta Pharma, IPCA Labs, JB Chemical, Neuland Labs, Orchid Pharma, Torrent Pharma, Wanbury, Zydus Lifesciences, etc., also recorded over 20 per cent price growth during first half. Other major pharma shares like Alkem Laboratories, Biocon, Divis’ Labs, Dr Reddy’s Labs, Glenmark Pharma, Natco Pharma, Sun Pharmaceuticals, Unichem Labs, etc, achieved single digit growth during first half.
Major MNC scrips like Abbott India, AstraZeneca Pharma, Glaxo Pharma, Pfizer and Sanofi India, suffered setback and declined during first half ended June 2026. Abbott India share declined by 10.7 per cent to Rs. 25,436 as on June 30,2026 from Rs 28,486 on Jan 1, 2026, Similarly Sanofi India share declined by 16.8 per cent to Rs. 3,406 from Rs. 4,093 and Pfizer declined by 9.7 per cent to Rs. 4,441 from Rs. 4,918. Similarly, Cipla share moved down by 2.3 per cent to Rs. 1,465 from Rs 1,500 and that of Jubilant Pharma shares went down by 8 per cent to Rs. 971.75 from Rs. 1,055 on January 1, 2026.
The aggregate net profit of Pharmabiz sample of top ten listed pharmaceutical companies i.e. Sun Pharmaceutical Industries (Sun Pharma), Dr Reddy’s Labs (DRL), Aurobindo Pharma, Cipla, Lupin, Zydus Lifesciences, Glenmark Pharma, Biocon, Alkem Laboratories and Torrent Pharma remained under pressure during year ended March 2026 mainly due to lower net profit registered by DRL, Cipla and Biocon. DRL net profit declined by 25.8 per cent to Rs. 4,247 crore from Rs. 5,725 crore in the previous year and that of Cipla also declined by 26.7 per cent to Rs. 3,862 crore from Rs. 5,269 crore. Biocon registered sharp fall of 62 per cent to Rs. 386 crore from Rs, 1013 crore. Aurobindo Pharma achieved negligible net profit growth only 0.5 per cent. Similarly, Sun Pharma and Alkem Labs net profit growth was restricted to only 5 per cent and 6.1 per cent respectively to Rs. 11,479 crore and Rs. 2,351 crore. This setback in profitability impacted share price growth in the first half of 2026.
The revenues of top 10 pharma companies improved by 11.6 per cent to Rs. 2,71,685 crore during the year ended March 2026 from Rs. 2,43,499 crore in the previous year. Sun Pharma, leading Indian pharma giant, registered revenue growth of 11.2 per cent to Rs. 58,462 crore as against Rs. 52,578 crore and that of Glenmark Pharma went up by 27.5 per cent to Rs. 16,982 crore. The revenues of DRL, Aurobindo Pharma and Cipla improved only single digit of 3.2 per cent, 6.1 per cent and 2.2 per cent respectively to Rs. 33,700 crore, Rs. 33,653 crore and Rs. 28,163 crore. Lupin and Zydus Lifesciences registered revenue growth of 23.1 per cent and 16.8 per cent respectively.
The US revenues of DRL, Aurobindo Pharma and Cipla declined during 2025-26 by 21.6 per cent 2.8 per cent and 13.1 per cent respectively to Rs. 11,374 crore, Rs. 14,408 crore and Rs. 6,862 crore. Aurobindo Pharma’s international sales contributed 91 per cent to its total revenues. However, Lupin and Glenmark Pharma achieved solid US revenue growth of 46 per cent and 137 per cent with US revenues of Rs. 11,678 crore and Rs. 7,139 crore. The US revenue of Alkem Labs and Torrent Pharma jumped by 20.3 per cent and 23.9 per cent.
Sun Pharma’s domestic revenue increased by 14 per cent to Rs. 19,290 crore during 2025-26 from Rs. 16,923 crore in the previous year. DRL also posted domestic sales of Rs. 6,219 crore, a growth of 15.7 per cent and Cipla’s Indian sales improved by 9.2 per cent to Rs. 12,679 crore. Alkem Labs’ domestic revenues increased by 9.7 per cent to Rs. 9,851 crore and Torrent Pharma clocked up domestic sales of Rs. 7,645 crore as against Rs 6,393 crore in the previous year.
The US FDA approved 388 ANDAs during the first half ended June 2026 as against 363 ANDAs in the previous year. Similarly, US FDA approved 106 tentative ANDAs as compared to 84 in the previous year. The R&D expenditure of Sun Pharma increased by 12.7 per cent to Rs. 3,554 crore from Rs. 3,154 crore in the previous year. It filed total 674 ANDAs with US FDA and received final approval for 552 ANDAs. DRL’s R&D expenditure declined by 12 per cent to Rs. 2,410 crore from Rs. 2,738 crore. DRL launched 25 new products and filed 15 new ANDAs. Currently, it has 75 pending ANDAs for US FDA approvals. Cipla has total 181 ANDA approvals and 55 products under pending status. Aurobindo Pharma filed total 888 ANDAs and received approvals for 728 ANDAs.
The equity capital of top 10 increased to Rs. 1,765 crore during 2025-26 from Rs. 1,555 crore in the previous year. Biocon’s equity capital increased to Rs. 810 crore from Rs. 600 crore in the previous year. Recently, Aurobindo Pharma and Zydus Lifesciences buyback equity shares to the tune of Rs. 800 crore and Rs. 1,100 crore respectively. Total reserves of 10 Pharmabiz top 10 companies increased to Rs. 3,08,332 crore from Rs. 1,59,284 crore, a growth of 18.9 per cent.
Sun Pharma declared equity dividend of 500 per cent for the year 2025-26, followed by DRL 800 per cent, Cipla 650 per cent, Lupin 900 per cent Torrent Pharma 760 per cent for the year ended March 2026. Alkem Labs announced equity dividend of 265 per cent, Glenmark Pharma 250 per cent and Zydus Lifesciences 100 per cent.
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