Pharma co Novartis plans review of Indian unit – Times of India

HYDERABAD: Pharma giant Novartis AG on Friday said it is taking up a strategic review of Novartis India, including an assessment of its 70.68% shareholding in the BSE listed company. The strategic review, however, will not have any impact on Novartis Healthcare Private Ltd (NHPL), which includes the Novartis Corporate Center in Hyderabad, Novartis AG said.
“Novartis India Limited is separate from Novartis Healthcare Private Limited, the wholly owned subsidiary of the Novartis group in India.The strategic review will not impact Novartis Healthcare Private Limited,” it said.
“NHPL Novartis Healthcare Private Limited includes the Novartis Corporate Center in Hyderabad, the commercial arm of Novartis in India, and R&D teams, which currently conduct clinical trials at more than 300 trial sites in the country,” it added.
The Swiss pharma biggie also said that “there can be no assurance that the strategic review of NIL will be completed in 2024, or that the outcome would result in the implementation of any transaction”. The company said it remains “deeply committed to India” with a footprint that has expanded significantly in recent years to employ over 8,100 associates in India. NIL’s portfolio includes bone & pain, neuroscience, transplant and a few oncology brands.

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