Foreign media: Swiss pharmaceutical giant Novartis will sell its entire 70.68% stake in its listed subsidiary Novartis India for about $159 million.
This transaction is part of Novartis' global restructuring. In addition, the consortium also proposed to acquire an additional 26% stake in Novartis India at a price of 860.64 Indian rupees per share (a 3.6% premium over Thursday's closing price).
After the announcement, the stock price of Novartis India surged nearly 20% in early trading on Friday, reaching 996.5 rupees. This sale is another major strategic adjustment by Novartis following its announcement in April 2024 to invest $23 billion in building and expanding factories in the United States. Novartis India has no production facilities in India, and the company mainly sells drugs such as Voveran, used to treat joint pain.
Original article: toutiao.com/article/1857642571786499/
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