| Export | Pharmaceutical formulations including injectables, tablets, capsules, biosimilars supplied internationally mainly via out-licensing and supply contracts. | Strong global regulatory certifications (EU GMP, WHO GMP), extensive product portfolio, and established international client relationships. | Pharmaceutical companies in regulated and emerging markets (B2B). | Biosimilars and complex injectable formulations. | 195 | 53 | Revenue from supply agreements and licensing; milestone payments from global pharmaceutical partners. | Contract-based, milestone driven, recurring supply agreements. | Increased regulatory approvals, capacity upgrades, and diversification into biologics and oncology drugs. | |
| Domestic | Manufacturing and marketing pharmaceuticals in India across multiple formulations including liquids, tablets, and injectables. | Tax incentives through special economic zones, compliance with Schedule M and GMP, and diversified dosage forms. | Pharma distributors, hospitals, clinics, and wholesalers (B2B and B2C). | Specialty injectables and beta lactam products. | 175 | 47 | Direct sales to domestic pharma distributors, hospitals, and healthcare providers. | Market-driven pricing with competitive positioning; direct and distributor sales channels. | Expanding domestic healthcare demand, product range extensions, and tax benefits from manufacturing units in special economic zones. | |
