{"id":14736,"date":"2026-02-21T05:27:08","date_gmt":"2026-02-21T05:27:08","guid":{"rendered":"https:\/\/www.europesays.com\/ch\/14736\/"},"modified":"2026-02-21T05:27:08","modified_gmt":"2026-02-21T05:27:08","slug":"novartis-exits-india-arm-chryscapital-led-group-buys-70-68-stake-for-%e2%82%b91446-crore","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/ch\/14736\/","title":{"rendered":"Novartis exits India arm, ChrysCapital-led group buys 70.68% stake for \u20b91,446 crore"},"content":{"rendered":"

Swiss drugmaker Novartis<\/a> AG has agreed to sell its entire 70.68% stake in its Indian unit for Rs 1,446 crore to an investor consortium led by homegrown private equity firm ChrysCapital<\/a>. Shares of Mumbai-listed Novartis India<\/a> surged 20% on the news on Friday, hitting the daily upper limit.
The consortium also comprising WaveRise Investments and Two Infinity Partners also announced a mandatory open offer to buy an additional up to 26% of Novartis India<\/a> at Rs 860.64 per share, totalling about Rs 552.50 crore, according to a regulatory filing.
\u201cNovartis AG has entered into an agreement with the ChrysCapital group (\u201cChrysCapital\u201d), one of the largest private equity firms investing in India, to transfer its 70.68% shareholding in NIL,\u201d the company said in a statement. The deal is expected to close in the September quarter subject to meeting certain conditions.<\/p>\n

The divestment follows a strategic business review by Novartis AG starting February 2024.<\/p>\n

\"ETLive Events\u201cUpon completion of this transfer of shares, Novartis will complete its transformation into a pure-play innovative medicines company and continues to adapt its footprint for efficient, sustainable long-term growth aligned with its global strategy,\u201d according to the company.
The Novartis stock closed 20% higher at Rs 996.5 apiece on the BSE, widely outperforming a 0.38% rise in the benchmark Sensex.
Post the stake sale, the company would continue its presence in India through wholly owned unit Novartis Healthcare Pvt Ltd<\/a> (NHPL). NHPL includes the commercial arm of Novartis in India, the Novartis Corporate Centre in Hyderabad, and R&D teams conducting clinical trials at more than 300 trial sites across India.
\u201cAligned with our global strategy, we are expanding our innovative Cardio Renal Metabolic and Oncology portfolio, marked by recent launches and a strong pipeline of innovative medicines for India,\u201d the company said.<\/p>\n

India is among few markets worldwide where the drugmaker has established biomedical research<\/a> alongside a full-spectrum development and operations footprint.<\/p>\n

The company, which operates the largest pharma global capability centre (GCC) in India, has ramped up its workforce in the last few years to more than 9,000 employees\u2014 about 11% of its global workforce\u2014in an effort to strengthen early-stage research.<\/p>\n

The stake sale comes at a time when Novartis\u2019 India unit has been facing declining sales. Data from market tracker PharmaTrac showed in terms of 12 months sales value, the company has seen a gradual decline to Rs 493 crore as of December-end 2025 from Rs 655 crore as of December 2022. Sales of its blockbuster heart failure therapy Vymada\u2014the biggest revenue contributor\u2014fell to Rs 180 crore in the 12-month period to December 2025 compared to Rs 258 as of December 2022.<\/p>\n

\u201cNovartis key sales contributor in India\u2014its heart failure therapy drug Vymada\u2014having gone off patent, there has also been an increasing generic competition,\u201d saidSheetal Sapale, VP-commercial at Pharmatrac. <\/p>\n

In 2022, Novartis India signed a deal with Hyderabad-based Dr Reddy’s Labs for exclusive sales and distribution of its established brands including popular pain drug Voveran. However, it isn\u2019t clear how the stake sale deal will impact the in-licensing pact with DRL.<\/p>\n

Responding to an ET query a spokesperson from Dr. Reddy\u2019s said: \u201cWe are cognizant of the announcement. It is too early for us to comment. However, we remain committed to continue making the portfolio range available to patients.”<\/p>\n

Novartis didn\u2019t respond to a query regarding Voveran. <\/p>\n","protected":false},"excerpt":{"rendered":"Swiss drugmaker Novartis AG has agreed to sell its entire 70.68% stake in its Indian unit for Rs…\n","protected":false},"author":2,"featured_media":14737,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[127],"tags":[3819,9992,10589,206,10590,9922],"class_list":{"0":"post-14736","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-novartis","8":"tag-biomedical-research","9":"tag-chryscapital","10":"tag-drug-maker","11":"tag-novartis","12":"tag-novartis-healthcare-pvt-ltd","13":"tag-novartis-india"},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/posts\/14736","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/comments?post=14736"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/posts\/14736\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/media\/14737"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/media?parent=14736"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/categories?post=14736"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/tags?post=14736"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}