Novartis India, a Publicly Traded Company, Is Scheduled to Face an Examination That Will Cover a Variety of Topics, Including Its Parent Company, Novartis Ag’s 70.68% Stake

Novartis AG, a Swiss pharmaceutical company, will conduct a’strategic review’ of Novartis India, its listed business in the country.

Novartis Healthcare Private Limited comprises the Novartis Corporate Centre in Hyderabad, Novartis’ commercial arm in India, and R&D teams, who now conduct clinical studies at over 300 trial sites around the nation. The strategy review will not have an impact on Novartis Healthcare Private Limited.

Dr Reddy’s Laboratories, based in Hyderabad, is apparently trying to acquire Novartis AG’s whole interest in Novartis India. Novartis AG, a Swiss pharmaceutical firm, will conduct a’strategic review’ of Novartis India, its listed business in the country.

Novartis AG has launched a strategic assessment of Novartis India Limited, a public business listed on the Bombay Stock Exchange. The strategic evaluation will involve an examination of Novartis AG’s 70.68 percent stake in the company. The’strategic review’ assesses Novartis AG’s 70.68% ownership in Novartis India.

‘Interested in acquiring a domestic-focused portfolio.’

According to a CNBC TV18 report, the global Dr Reddy’s is interested in acquiring a domestic-focused portfolio, potentially offering a controlling stake in the target company.

A Novartis India spokeswoman responded to the article, saying: “While Novartis AG has begun the strategic review, which will include an assessment of its 70.68% shareholding in Novartis India Limited, no decision has yet been made regarding the eventual outcome.”

‘Strategic review’ at Novartis India

Novartis India Limited is separate from Novartis Healthcare Private Limited, the Novartis group’s wholly owned subsidiary in India. Novartis Healthcare Private Limited comprises the Novartis Corporate Centre in Hyderabad, Novartis’ commercial arm in India, and R&D teams, who now conduct clinical studies at over 300 trial sites around the nation. The strategy review will not have an impact on Novartis Healthcare Private Limited.

“We remain deeply committed to India, with a footprint that has significantly expanded in recent years,” the business stated in a statement.

Novartis remains highly committed to India, and its footprint has grown dramatically in recent years. Today, Novartis proudly employs over 8,100 people in India.

In February 2022, Novartis streamlined its operations by transferring sales and distribution rights for established pharmaceuticals to Dr. Reddy’s Laboratories, resulting in around 400 job layoffs. This exclusive sales and distribution arrangement covered pharmaceuticals such as Voveran, Calcium, and Methergine.