Get the inside scoop on the fierce battle brewing in the Medicine industry as Dr. Reddy’s competes to acquire Novartis India’s stake. With exclusive details and insights, find out who will emerge victorious in this high-stakes showdown!
Acquisition Race Heats Up
Indian pharmaceutical giant Dr. Reddy’s is reportedly in the running to acquire Novartis AG’s stake in Novartis India, as per a report by CNBC TV18.
Swiss pharmaceutical titan Novartis AG initiated a strategic review of its subsidiary, Novartis India Limited, on February 16, including scrutiny of Novartis AG’s 70.68 percent shareholding in the Indian entity and according to CNBC TV18, Reddy’s has shown interest in acquiring a portfolio focused on the domestic market, possibly offering a premium to gain control of the targeted company.
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In February 2022, Swiss Major streamlined its operations by transferring sales and distribution rights of established medicines to Reddy’s Laboratories, leading to around 400 job cuts. This agreement covered medicines like the Voveran range, Calcium range, and Methergine.
As the race intensifies and the future of Swiss Major’s Indian subsidiary hangs in the balance, all eyes are on the homegrown Reddy’s and the unfolding saga of this strategic acquisition.
Bhaarat Bulletin’s Shikha Rai, Bimal Dev, and CNBC TV18 have contributed to the above report
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