Ranked 71st, Sun Pharma Industries, India's largest drugs company, with 45 manufacturing sites across the globe, appears on the list for the fourth straight time.
Worldwide, Salesforce.com has been pushed to the No. 2 spot for the first time in five years. Alexion Pharmaceuticals follows at No. 3 for the fourth consecutive year.
Rounding out the top five are Regeneron Pharmaceuticals at No. 4 and ARM Holdings at No. 5. The rankings are based on, what the US business magazine calls an innovation premium (IP), the difference between a firm's enterprise value and a net present value of cash flows from its existing businesses.