Novartis to sell entire 71% stake in Indian unit to consortium of WaveRise Investments

Core Viewpoint - Novartis is selling its entire 70.68% stake in its Indian unit to a consortium consisting of WaveRise Investments, ChrysCapital, and Two Infinity Partners [1]. Company Summary - The transaction involves the complete divestment of Novartis's stake in its listed Indian subsidiary, indicating a strategic shift in the company's investment focus [1]. - The consortium acquiring the stake includes notable investment firms, suggesting confidence in the potential of the Indian market [1]. Industry Summary - The sale reflects ongoing trends in the pharmaceutical industry where companies are reassessing their international investments and focusing on core markets [1]. - The involvement of multiple investment partners in the acquisition highlights the growing interest in the Indian pharmaceutical sector, which is seen as a lucrative market for future growth [1].