Ramesh (left) and Rajeev Juneja.

This story is part of Forbes’ coverage of India’s Richest 2024. See the full list here.

India’s pharma tycoons are on an expansion tear to carve out new niches beyond generic medicines and grow their global reach. A leader in low-cost drugs, India supplies 20% of the worldwide total by volume.

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Now, as companies move further into next-generation therapeutics, the country’s pharmaceutical industry is likely to double to $130 billion by 2030 and more than triple to $450 billion by 2047, according to global consultancy EY-Parthenon.

Mankind Pharma, controlled by billionaire brothers Ramesh and Rajeev Juneja, announced in July plans to buy Mumbai-based Bharat Serums and Vaccines for $1.6 billion from Advent International, a U.S. private equity firm.

The deal, expected to be completed soon, will position Mankind as a market leader in women’s health and fertility treatments, according to Mumbai-based HSIE Research........

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