Ajanta Pharma Ltd (Ajanta Pharma) focuses on the development and commercialization of novel generic products. The company offers medicines in therapeutic areas including cardiology, ophthalmology, dermatology, antimalarial, gastroenterology, antihistamine, respiratory, and pain management. It offers anti-diabetics, anti-malarial, and anti-biotics, besides drugs for cardiac, orthopedic, pediatric, gynecological, and respiratory conditions, and general health.

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Ajanta Pharma has undertaken several research and development (R&D) initiatives, including the development of novel nano-technology-based micro-emulsion formulations for ophthalmic dosage forms, preservative-free ophthalmic products in novel bottles, and non-comedogenic dermatological formulations. The company is utilizing novel tangential drug layering technology for new product development and is working on oral solid dosage forms using a combination of two processing steps for improved quality and reduced processing time. Additionally, Ajanta Pharma is focused on converting tablets from non-aqueous to aqueous coating, developing complex generic products for ANDA filings in the US market, and creating robust and cost-effective formulations for various therapeutic categories. The company is also involved in the development and launch of products for neuropathic pain treatment and the in-house synthesis of process impurities and analytical methodologies. The R&D unit of Ajanta Pharma is based in Mumbai and is responsible for developing differentiated generic products. The unit's role includes formulation development, process chemistry, and analytical development, with a focus on creating first-to-market products that offer convenience and better patient compliance. In FY2025, the company spent INR2,318.2 million on its R&D activities, which as a percentage of revenue stood at 5% and grew 9.1% YoY. The company had 52 active ANDAs, including six approvals in FY2025; 47 products on shelf, including five launched in FY2025; 22 pending approvals; and six ANDAs filed in FY2025 for the US Generics.