Novartis AG, a global pharmaceutical company, has announced a strategic review of Novartis India Limited, a public company listed on the Bombay Stock Exchange. This comprehensive review will encompass an evaluation of Novartis AG's 70.68 percent shareholding in the company.

Novartis India Limited operates independently from Novartis Healthcare Private Limited, which is a wholly-owned subsidiary of the Novartis group in India. Novartis Healthcare Private Limited includes the Novartis Corporate Center in Hyderabad, the commercial arm of Novartis in India, and R&D teams engaged in clinical trials at over 300 trial sites across the country. The ongoing strategic review is exclusive to Novartis India Limited and will not impact the operations of Novartis Healthcare Private Limited.

While the strategic review progresses, it is essential to recognize that there is no guarantee of its completion within 2024, nor assurance that any specific transaction will be implemented as a result of the review.

Despite this assessment, Novartis reaffirms its steadfast commitment to India, a market where its presence has significantly expanded in recent years. Presently, Novartis employs over 8,100 associates across various functions within the country.