Private equity firm ChrysCapital has completed the acquisition of a 70.68% controlling stake in Novartis India Ltd (NIL) from Swiss pharmaceutical giant Novartis AG.
The transaction, valued at ₹1,446 crore, marks ChrysCapital’s first majority-controlled investment in the Indian pharmaceutical sector.
As part of the deal, the firm has appointed new leadership to steer the subsidiary’s strategic direction.
The move represents a significant shift in ownership for one of India’s prominent branded generic manufacturers.
By taking a controlling interest, ChrysCapital aims to accelerate growth in the branded generics segment, leveraging its operational expertise to expand market share.
The acquisition underscores the increasing appetite among private equity investors for high-quality healthcare assets in emerging markets, particularly in India’s robust pharmaceutical industry.