In the current scenario of the financial reporting regime, investors are increasingly looking at the disclosure practices of companies. The companies also face capital market pressures and need to disclose more than the regulatory norms. There could be several motivations for the companies to disclose more information voluntarily. This article explores the factors that determine the voluntary disclosure choices of the Pharma companies listed in NSE Nifty Pharma Index. The study uses a Voluntary Disclosure Score constructed by the authors to analyze the voluntary disclosure practices of select pharma companies. The study is descriptive in nature. Pharma companies that are selected for the study. All the data relating to disclosure practices for intangible assets is gathered from the annual reports of the companies. Items such as software, brand & trademarks, licenses, and copyright, among others, are included to measure the disclosure score of each pharma companies. One way Anova is applied to test if there is any significant difference in disclosure practices of select pharma companies. The study period is from 2015–16 to 2020–21.

Keywords: Intangible Assets, Voluntary Disclosure, Nifty Pharma Index.