Novartis raises stake in Indian unit to 76.4%

The increase had a value of about Rs370 crore and boosted the Basel-based company’s holding from 50.9%, Novartis said in an emailed statement.

Almost all large institutional investors and quasi- institutional shareholders participated in the offer, the company said.

The increased holding expands Novartis’ presence in a pharmaceutical market that may triple in size to $16 billion from 2005 to 2015, according to estimates by Deloitte Llp.

Milestone Alert!
Livemint tops charts as the fastest growing news website in the world 🌏 Click here to know more.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!