Torrent in talks to acquire select Novartis businesses

Ahmedabad-based Torrent Pharma is in talks to acquire select businesses from Novartis India in a deal estimated to be less than Rs 500 crore.

Torrent’s plan for acquisition comes at a time when its sales in the US market have declined by 51 per cent in the nine months ended December.

Novartis has drugs in pain management and diabetes care that it considers core. It also has drugs to cure tuberculosis and other infectious diseases.

“The discussions between Torrent and Novartis are expected to be finalised in a month,” said an investment banker familiar with the discussions. “The deal should