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Novartis exits India arm, ChrysCapital-led group buys 70.68% stake for ₹1,446 crore
Swiss drugmaker Novartis AG is selling its 70.68% stake in its Indian unit to a ChrysCapital-led consortium for ₹1,446 crore. This move is part of Novartis’ strategy to become an innovative medicines-focused company, although it will maintain a significant presence in India through its wholly-owned subsidiary. The divestment comes as Novartis India has seen declining sales, with its key product, Vymada, facing increased generic competition.