Swiss Drugmaker Novartis to Exit India-Listed Unit in $159 Million Deal

§Swiss pharmaceutical company Novartis AG has decided to sell its entire stake in Novartis India Limited.

§The total deal value is about 159 million US dollars (around ₹1,446 crore).

§This marks the company’s exit from its India-listed subsidiary.

Who Is Buying the Stake?

§Novartis AG is selling its 70.68% shareholding.

§The stake is being acquired by a group of investors led by:

§WaveRise Investments

§ChrysCapital

§Infinity Partners

§After the transaction, this group will take control of the company.

What About Public Shareholders?

§Since more than 25% stake is being acquired, Indian market rules require a mandatory open offer.

§Public shareholders will get an opportunity to sell their shares at this price.

Why Is This Important?

§The move indicates a restructuring of Novartis AG’s global operations.

§It also represents a major ownership change in a well-known pharmaceutical company operating in India.

Novartis

§Predecessors: Ciba-Geigy & Sandoz (via merger)

§Founded: 20 December 1996

§Headquarters: Basel, Switzerland

§CEO: Vasant Narasimhan

§Chairman: Giovanni Caforio