Top 10 Pharmaceutical Companies in Nepal
Top 10 Pharmaceutical Companies in Nepal: MAT and Monthly Market Performance
The pharmaceutical market in Nepal continues to evolve, with both domestic and multinational companies contributing significantly to the overall medicine market. According to the IQVIA Nepal Audit Dataset – June 2026, the latest market snapshot highlights the leading pharmaceutical companies based on their market value and growth performance.
The data provides two important perspectives: MAT (Moving Annual Total) performance and monthly market performance. These figures help indicate the relative contribution and growth of major pharmaceutical companies in Nepal.
Top 10 Pharmaceutical Companies in Nepal – MAT Performance
Based on the IQVIA June 2026 dataset, Quest Pharmaceuticals ranked as the leading company on a MAT basis with a market value of approximately NPR 406 crore.
The top 10 companies by MAT value were:
| Rank | Company | MAT Value (NPR Crore) | Growth |
|---|---|---|---|
| 1 | Quest | 406 | 5% |
| 2 | Nepal | 385 | 15% |
| 3 | National | 377 | -2% |
| 4 | Deurali | 374 | 5% |
| 5 | Arya | 316 | 10% |
| 6 | SUN* | 310 | 17% |
| 7 | Aristo | 291 | 12% |
| 8 | Alkem* | 270 | 10% |
| 9 | Cipla | 256 | 13% |
| 10 | Asian | 248 | 5% |
Quest Leads the MAT Market
Quest recorded the highest MAT value among the companies shown, reaching approximately NPR 406 crore, with a growth rate of 5%.
Although Quest had the highest overall MAT value, the highest growth among the top 10 companies was reported by SUN* at 17%, followed by Nepal at 15% and Cipla at 13%.
Interestingly, National recorded a 2% decline compared with the previous MAT period, despite remaining among the top three companies by MAT value.
Monthly Pharmaceutical Market Performance
The monthly data provides a shorter-term view of company performance. In the June 2026 dataset, Quest again ranked first by monthly value.
| Rank | Company | Monthly Value (NPR Crore) | Growth |
|---|---|---|---|
| 1 | Quest | 39 | 17% |
| 2 | National | 33 | 13% |
| 3 | Nepal | 33 | 12% |
| 4 | Deurali | 31 | 4% |
| 5 | SUN | 28 | 15% |
| 6 | Arya | 28 | 23% |
| 7 | Aristo | 26 | 25% |
| 8 | Cipla | 24 | 26% |
| 9 | Alkem* | 22 | 26% |
| 10 | Asian | 21 | 9% |
Quest Maintains the Top Position
On the monthly level, Quest recorded a value of approximately NPR 39 crore, making it the leading company in the dataset. It also registered 17% growth.
While Quest had the highest monthly value, Cipla and Alkem* recorded the highest growth at 26%, followed by Aristo at 25% and Arya at 23%.
Key Findings from the IQVIA June 2026 Data
Several important observations can be made from the market snapshot:
- Quest was the leading company in both MAT and monthly value.
- Quest recorded a MAT value of approximately NPR 406 crore.
- SUN* showed the highest MAT growth among the top 10 companies at 17%.
- Nepal recorded 15% MAT growth.
- National remained one of the largest companies by MAT value but showed a 2% decline.
- On a monthly basis, Cipla and Alkem* showed the highest growth at 26%.
- Aristo recorded 25% monthly growth.
- Arya recorded 23% monthly growth.
- The monthly data shows that a company’s market size and its short-term growth rate can differ considerably.
MAT vs Monthly Performance: What Does It Mean?
MAT (Moving Annual Total) represents performance over a rolling 12-month period and provides a broader view of market contribution and longer-term performance.
In contrast, monthly performance provides a shorter-term snapshot and can show recent changes in market activity.
For example, Quest maintained the highest value in both measurements, indicating a strong overall contribution. However, companies such as Cipla, Alkem, Aristo and Arya showed particularly strong monthly growth despite having lower absolute market values than Quest.
Therefore, both market value and growth rate are important when evaluating pharmaceutical market performance.
What This Means for Nepal’s Pharmaceutical Market
The data demonstrates a competitive pharmaceutical market in Nepal, with both domestic and international companies appearing among the leading contributors.
The performance of companies such as Quest, Nepal, National, Deurali, Arya and others reflects the importance of the domestic pharmaceutical sector, while companies such as SUN, Aristo, Alkem and Cipla also demonstrate significant market presence.
For pharmacists, pharmacy students, pharmaceutical professionals and industry stakeholders, such market data can provide useful insights into market trends, pharmaceutical company performance and the competitive landscape of Nepal’s medicine sector.
The IQVIA Nepal Audit Dataset – June 2026 shows that Quest was the leading pharmaceutical company by both MAT and monthly value among the companies presented.
However, leadership by market value does not necessarily mean the highest growth. SUN* led MAT growth at 17%, while Cipla and Alkem* recorded the highest monthly growth at 26%.
These figures provide a useful snapshot of the pharmaceutical market and highlight the dynamic nature of company performance in Nepal.
Source: IQVIA Nepal Audit Dataset, June 2026. Values shown in the source are in NPR crore.
Note: Company names marked with an asterisk () are reproduced as presented in the supplied IQVIA dataset. This article summarizes the supplied dataset and should not be interpreted as an independent ranking or financial analysis.*
