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Pharma company Novartis plans to review its Indian unit

Hyderabad: Pharma giant Novartis AG on Friday said it is taking a step strategic review Of Novartis IndiaWhich also includes assessment of its 70.68% stake in the BSE listed company. However, the strategic review will have no impact on novartis Novartis AG said Healthcare Private Limited (NHPL), which includes the Novartis Corporate Center in Hyderabad.
“Novartis India Limited is separate from Novartis Healthcare Pvt LtdIt is a wholly owned subsidiary of Novartis Group in India. The strategic review will have no impact on Novartis Healthcare Pvt. Ltd.
It said, “NHPL Novartis Healthcare Pvt Ltd comprises the Novartis corporate center in Hyderabad, the commercial arm of Novartis in India, and R&D teams that currently conduct clinical trials across more than 300 trial sites in the country. Are.”
The Swiss pharma giant also said that “no assurance can be given that the strategic review of NIL will be completed in 2024, or that any transaction resulting from it will be implemented”. The company said it is “deeply committed to India” and has expanded in recent years to employ more than 8,100 associates in India. NIL’s portfolio includes bone and pain, neurology, transplant and some oncology brands.

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