Why Are Torrent Pharma And Sun Pharma Emerging As The Standout Winners In India's Pharma Market?
Indian Pharma Market Continues To Expand
Nomura's analysis of May 2026 Indian Pharmaceutical Market (IPM) data indicates that the sector continues to demonstrate healthy growth despite an increasingly competitive environment.
Most major pharmaceutical companies under Nomura's coverage outperformed overall market growth, highlighting the resilience of India's healthcare sector and the continued expansion of chronic and specialty therapies.
Key Highlights From May 2026 IPM Data
✅ Torrent Pharma delivered the strongest growth among covered companies.
✅ Sun Pharma continued gaining market share in semaglutide.
✅ Eli Lilly's Tirzepatide maintained the No. 1 position.
✅ Most companies outperformed overall market growth.
✅ Only Alkem Laboratories and Dr Reddy's trailed market growth.
✅ Obesity and diabetes therapies remain major growth drivers.
Leadership In The Fast-Growing GLP-1 Market
The obesity and diabetes treatment segment continues to be one of the fastest-growing areas in global healthcare.
Eli Lilly's Tirzepatide retained the leading market position during May 2026, reflecting strong demand for advanced diabetes and weight-management therapies.
At the same time, Sun Pharma continued expanding its presence within the semaglutide segment, helping the company gain additional market share.
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Torrent Pharma Continues To Lead
Torrent Pharma remained the strongest performer within Nomura's coverage universe and retained its leadership position.
The company held approximately 19% market share in the tracked segment and was the only generic manufacturer to generate oral semaglutide sales throughout the entire month of May 2026.
This gives Torrent a significant first-mover advantage in one of the most promising therapeutic categories globally.
Sector Winners And Laggards
0Nomura highlighted Torrent Pharma as the strongest performer, while Alkem Laboratories and Dr Reddy's Laboratories were the only major covered companies that grew slower than the broader market during May.
What Investors Should Monitor
| Theme | Importance |
|---|---|
| Semaglutide Adoption | High |
| Tirzepatide Growth | High |
| Chronic Therapy Expansion | High |
| Market Share Gains | High |
| New Product Launches | Medium-High |
Stocks Likely To Remain In Focus
✅ Torrent Pharmaceuticals
✅ Sun Pharmaceutical Industries
✅ Eli Lilly India-related obesity therapy ecosystem
⚠️ Alkem Laboratories
⚠️ Dr Reddy's Laboratories
The market will closely monitor whether semaglutide and obesity-treatment growth trends continue to accelerate through FY27.
Investor Takeaway
Nomura's May 2026 pharma analysis highlights a clear leadership trend emerging within the sector. Torrent Pharma remains the standout performer with strong growth and leadership in oral semaglutide, while Sun Pharma continues gaining share in one of the fastest-growing therapeutic categories. As obesity and diabetes treatments become increasingly important growth drivers, companies with strong positioning in GLP-1 therapies may continue attracting investor attention.
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SEBI Disclaimer: The information provided in this post is for informational purposes only and should not be construed as investment advice. Readers must perform their own due diligence and consult a registered investment advisor before making any investment decisions. The views expressed are general in nature and may not suit individual investment objectives or financial situations.
