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In a potential landmark development within the pharmaceutical sector, Hyderabad-based Dr. Reddy’s Laboratories is reportedly considering the acquisition of Novartis AG’s entire stake in Novartis India. This move comes as the Switzerland-based pharmaceutical giant, Novartis AG, initiates a strategic review of its Indian subsidiary, Novartis India, a listed entity in the country.
According to reports from CNBC TV18, Dr. Reddy’s interest in acquiring Novartis India stems from a desire to bolster its domestic-focused portfolio. The multinational corporation may be considering offering a controlling premium for the targeted company, signaling significant potential for the Indian pharmaceutical landscape.
In response to these speculations, a spokesperson from Novartis India stated, “While Novartis AG has commenced the strategic review that will include an assessment of its 70.68% shareholding in Novartis India Limited, no decision has yet been taken regarding the eventual outcome.” This statement reflects the ongoing nature of discussions and the uncertainty surrounding the potential acquisition.
Novartis AG’s strategic review of Novartis India is a significant step in assessing its stake in the Indian pharmaceutical market. However, the company clarifies that this exercise will not impact Novartis Healthcare Private Limited, a separate entity conducting clinical trials across India and housing corporate, commercial, and research and development (R&D) functions.
Expressing its commitment to the Indian market, Novartis AG emphasized its expanded presence in recent years, with over 8,100 associates contributing to its operations in the country. Despite the potential divestment of its stake in Novartis India, the company remains deeply invested in India’s pharmaceutical landscape.
The prospect of Dr. Reddy’s Laboratories acquiring Novartis India reflects the evolving dynamics of the pharmaceutical industry and the strategic realignments taking place within the sector. If realized, this acquisition could reshape the competitive landscape and open new avenues for growth and collaboration in India’s pharmaceutical market. However, until a definitive decision is made, the industry awaits further developments with keen interest.
Sources By Agencies
