ChrysCapital completes acquisition of 70.68% controlling stake in Novartis India

Novartis India Limited announced that ChrysCapital had completed the acquisition of a 70.68% controlling stake. The transaction marks ChrysCapital’s first majority-controlled investment in the Indian pharmaceutical sector. NIL appointed Dr. Vikas Gupta as Managing Director and CEO and announced changes to its independent directors. The company said it would adopt a new name and corporate identity following its separation from Novartis AG. The release does not disclose transaction consideration.