HYDERABAD: Pharma big Novartis AG on Friday stated it’s taking over a strategic review of Novartis India, together with an evaluation of its 70.68% shareholding within the BSE listed firm. The strategic review, nevertheless, won’t have any influence on Novartis Healthcare Private Ltd (NHPL), which incorporates the Novartis Corporate Center in Hyderabad, Novartis AG stated.
“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 stated.
“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 additionally stated 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 firm stated it stays “deeply committed to India” with a footprint that has expanded considerably lately to make use of over 8,100 associates in India. NIL’s portfolio consists of bone & ache, neuroscience, transplant and some oncology manufacturers.
“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 stated.
“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 additionally stated 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 firm stated it stays “deeply committed to India” with a footprint that has expanded considerably lately to make use of over 8,100 associates in India. NIL’s portfolio consists of bone & ache, neuroscience, transplant and some oncology manufacturers.
