Latest News | Novarties Announces Strategic Review of India Unit

New Delhi, Feb 16 (PTI) 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.

Also Read | AP TET 2024 Exam: Registration for Teacher Eligibility Test Examination Ends on February 18, Apply Online at aptet.apcfss.in.

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.

Also Read | Mizoram Foundation Day 2024 Date: Know the History and Significance of the Day That Marks the Establishment of the State of Mizoram.

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, it added.

Novartis employs over 8,100 associates in India.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)