Novartis India (BSE: ₹1,181.70) surged 8.95% in intraday trading at 3:02 PM, following reports by CNBC-TV18 indicating that Alkem Labs is in talks to acquire the company from its Swiss parent, Novartis AG.
The deal is expected to be valued around ₹2,000 crore. Other pharmaceutical companies such as Dr. Reddy’s Laboratories (DRL) and Zydus are also reportedly in contention to buy Novartis India’s assets. The stock hit a high of ₹1,248 during the session, driven by strong investor interest.
