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Novartis India
Drug major Novartis AG on Friday announced a strategic review of Novartis India Ltd, a public company listed on the BSE. The strategic review will include an assessment of the 70.68 per cent shareholding of Novartis AG in the company, the drug firm said in a statement. Novartis India Ltd is separate from Novartis Healthcare Pvt Ltd, the wholly owned subsidiary of Novartis group in India. Novartis Healthcare Pvt Ltd includes the Novartis Corporate Centre 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. The strategic review will not impact Novartis Healthcare Pvt Ltd, Novartis AG stated. There can be no assurance that the strategic review of Novartis India Ltd will be completed in 2024, or that the outcome would result in the implementation of any transaction, it said. Novartis remains deeply committed to India with a footprint that has expanded significantly in recent years, i
JB Chemicals & Pharmaceuticals Ltd (JB Pharma)on Tuesday said it has inked a trade mark licence agreement along with promotion and distribution pact with Novartis for select ophthalmology brands entailing a total sum of Rs 1,089 crore. The board of directors at its meeting held on December 19, 2023 approved the execution of a trade mark licence agreement with Novartis Innovative Therapies AG, which is perpetual in nature for the Indian market, for a portfolio of select ophthalmology brands which will be effective in January 2027, JB Pharma said in a regulatory filing. The board also approved the promotion and distribution agreement with Novartis Healthcare Pvt Ltd for the same portfolio of select ophthalmology brands for the Indian market for a period of three years starting December 2023, it added. On the financial details of the agreements, JB Pharma said it will pay USD 116 million (Rs 964 crore), excluding applicable taxes, stamp duty and working capital, for the trade marks ..
Drug firm Novartis India on Friday reported 29.04 per cent increase in net profit at Rs 23.68 crore for the second quarter ended September 30, 2023. The company had logged a net profit of Rs 18.35 crore in the year-ago period, according to a regulatory filing by Novartis India. However, revenue from operations was down 22.41 per cent at Rs 78.76 crore as against Rs 101.52 crore, it added. Total expense was at Rs 63.21 crore, down 27.4 per cent. Shares of Novartis India on Friday settled at Rs 684.50 apiece on BSE, up 6.06 per cent from the previous close.
Pharma firm Novartis India Saturday announced the appointment of Sanjay Murdeshwar as vice chairman and managing director of the company. "..based on recommendation of the Nomination and Remuneration Committee of the Board, the Board of Directors of Novartis lndia Ltd at their meeting held today, have approved the appointment of Sanjay Murdeshwar as Vice Chairman & Managing Director of the Company effective June 15, 2019, subject to the approval of Shareholders and Central Government," a company statement said. Murdeshwar is Country President, Novartis in India and responsible for the company's pharmaceuticals business in the country. He is also managing director of Novartis Healthcare Private Ltd. Murdeshwar comes with more than 20 years of experience in the healthcare industry which includes varied roles in the pharmaceuticals and consumer health businesses, it added.