There are many companies in Pharma space. We need not buy all. Just choose the best company in each theme. Also, I would suggest investing in other sectors like auto, auto ancillaries, Banking, NBFC, IT, FMCG etc. not to put all eggs in one basket.
My views for the companies:
Granules: I will put in API category. They are trying the same route as that of Aurobindo, API to formulations. Red flag: Too much pledging by promoters. Screener says: Promoters have pledged 78.07% of their holdings.
Lupin , Lupin, Cadila, Fantastic company. But I have aurobindo which is cheaper and growing faster, has bigger ANDA pipeline.
Torrent: has majority revenue coming from non US countries. So it will give you more diversification.
Reddy: Revenue and Profits both shrinking. I would stay away.
Piramal: You could look at Piramal for a diversification play. They have non-pharma business too under the same company.
Please note this are my personal views and interpretations. I suggest you read Annual Reports and investor presentations of all the companies. It will give you more ideas. Add your findings to this thread so others benefit from it too. e.g. Copaxone is a 2200 million USD opportunity as per Lupin investor presentation. Now if you search you will find Natco is making generic for it. Lupin investor presentation says Renvela is 1830 million opportunity and if you search Aurobindo has got a generic version approval. Advair Diskus is a 4400 million opportunity which Lupin is working on.