Novartis AG, a global pharmaceutical company, has announced a strategic review of its operations in India, including its listed business. Vasant Narasimhan, CEO of Novartis, in an interview with CNBC-TV18, outlined several key points regarding Novartis's strategy in India.
Narasimhan said the company is contemplating exploring the potential of identifying a better owner for its listed business in India.
Vasant Narasimhan stated, "Looking at a strategic review of our listed business in India. Will see if we find a better owner for it."
He said future investments will be primarily directed through NHPL (Novartis Healthcare Private Limited), which will focus on launching exciting new products.
Additionally, he highlighted ongoing investments in its unlisted entity will continue.
Regarding the strategic review of Novartis's listed entity in India, Narasimhan clarified that it was not prompted by any pricing policies within the country. He said, "Our strategic review of India listed entity is not due to any pricing policy in the country."
Currently, Novartis's operations in India employ approximately 8,300 individuals, with plans to further expand the workforce by 10 percent, he said.
In conclusion, Narasimhan reaffirmed the company's commitment to making steady investments in India, signalling a continued interest in the Indian pharmaceutical market.
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