Novartis India shares surge 7% amid Novartis AG’s strategic review

Shares of Novartis India Ltd experienced a significant surge of nearly 7% following the announcement of a strategic review by Novartis AG, the parent company.

Novartis AG has initiated a strategic review of Novartis India Ltd, considering the possibility of divesting its 70.68% shareholding in the India-listed business. However, as of now, no final decision has been made regarding the outcome of this review.

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As of 10:45 am the shares were trading 6.91% higher at ₹1,106.95

Media reports have suggested that Dr. Reddy’s Laboratories Ltd. is among the potential suitors for acquiring Novartis AG’s stake in Novartis India. However, Dr. Reddy’s declined to comment on queries regarding this matter when asked by reporters.