Complications associated with uncontrolled hypertension are considered the major cause of premature death worldwide. Fixed-dose combinations (FDCs) offer an alternative approach to polypharmacy with the aim to improve patient compliance. Process Analytical Technology (PAT) is gaining momentum as a non-invasive, predictive tool to control the quality of drugs during continuous processing. PAT offers real-time quality control that can be built into the production line. However, the vast majority of studies reported in the literature have focused on quantifying a single drug during continuous processing. The aim of this study was to develop non-destructive, predictive inline PAT tools allowing for the simultaneous quantification of two antihypertensive drugs, Hydrochlorothiazide (HCTZ) and Ramipril (RMP), during the continuous manufacture of FDCs. A calibration set composed of HCTZ and RMP at concentration ranges of 6.5 to 40 and 2.5–15 (% w/w), respectively, were manufactured using hot melt extrusion. The extrudates were analysed during the process using inline Raman spectroscopy. Optimum wavenumber regions were observed at 200–400 and 630–730 cm−1 for HCTZ, and 980–1100 cm−1 for RMP using principal component analysis. Partial least squares (PLS) regression was performed to establish the predictive calibration models. The PLS developed models showed excellent linearity (R2 = 0.986 and 0.974), selectivity (PC1 = 98.6% and 91.9%) and accuracy (RMSEcv = 1.586 and 0.645%) for HCTZ and RMP, respectively. Additionally, RMSEP values were reported as 1.237 and 1.007% for HCTZ and RMP, respectively, depicting good predictability for drug content in the validation set. The output of this study demonstrated that utilisation of the full potential of chemometrics, Raman spectroscopy can be used for the simultaneous inline quantification of multiple drugs in complex formulations. This facilitates the in-process quality control of FDCs and other multicomponent systems during continuous pharmaceutical production.