Novartis India share price: Novartis sells its listed Indian entity.
The strategic review will include an assessment of Novartis India’s 70.68% stake in Novartis AG. Novartis said there was no assurance that the strategic review of Novartis India would be completed in 2024 or that any deal would be implemented as a result.
“Novartis remains deeply committed to India, a presence that has grown significantly in recent years,” the company said in a statement.
The company employs more than 8,100 people in India. The company said the strategic review will not impact Novartis Healthcare Private Limited, which is separate from Novartis India. The company includes corporate centers, a commercial organization and an R&D team, and conducts clinical trials at more than 300 trial sites in the country.
Novartis India posted revenue of Rs 378.7 crore in FY24 and a market capitalization of Rs 2,556.61 crore.
The company has a portfolio of branded, off-patent products targeting the bone and pain, transplant, mature neurology and oncology segments. Shares of Novartis India rose 13.55 per cent to close at Rs 1035.45 on the BSE.
(You can now subscribe to ETMarkets WhatsApp channel)
Download the Economic Times news app to get daily market updates and real-time business news.
Subscribe to The Economic Times Prime and read Economic Times ePaper Online and Sensex Today.
Top trending stocks: SBI stock price, Axis Bank stock price, HDFC Bank stock price, Infosys stock price, Wipro stock price, NTPC stock price.
