Swiss pharmaceuticals giant Novartis is planning to shut its sole manufacturing facility in India, at Mahad in Maharashtra. Novartis makes the anti-tuberculosis bulk drug, Rifampicin, here, but cheaper imports, primarily from China, have taken a toll on it.
The multinational company may even put the unit on the block. Ranjit Shahani, vice-chairman and managing director of Novartis India, told Business Standard,
