Swiss Pharma company Novartis is boosting its strategy in India. The company aims to focus mainly on areas of advanced medicines and innovation. Earlier, Novartis had two types of businesses in India: legacy brands and new innovative medicines and research. But now, the company is making waves with its new approach to prioritise areas like heart disease, cancer, and immune system disease.
Novartis took this big step after selling 70% stake in its listed India company called ‘Novartis India’ on February 26. The deal was totally valued at ₹1446 crore, which is actually quite a good price. The buyers were private equity investors led by Chrys Capital. The company no longer wants to invest in old medicine brands; instead, it wants to strengthen its role in manufacturing and selling advanced drugs.Â
After Novartis sold its share, it is still connected to India. The company had another firm called ‘Novartis Healthcare’, which will continue to handle its innovative medicines in India. Novartis believes that India is becoming very important in manufacturing advanced new medicines.
Earlier, India focused on phases 2 and 3 of drug development, which include assessing whether the drug works and conducting large-scale testing to seek approval. However, India is all set to take charge of phase 1 now as Novartis has started clinical research in Ahmedabad. It is an important step because phase 1 focuses on more advanced, research-intensive, and more valuable scientifically.
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Over the years, India has done only support work, but this remarkable move has shaped India into a global innovation and research centre. International pharma companies are now trusting India, which is beneficial for India. It will boost skilled jobs, better research opportunities, and a stronger India position globally in healthcare and biotech.
