ChrysCapital-controlled Novartis India expands portfolio through MNC tie-ups, brand deals

Novartis India, recently acquired by Indian private equity firm ChrysCapital, has entered into an exclusive promotion and distribution agreement with Novartis Healthcare Private Limited (NHPL), the unlisted Indian subsidiary of Swiss multinational Novartis AG.  

As per the agreement, Novartis India will have exclusive rights to promote and distribute NHPL's retina portfolio comprising the products Accentrix (ranibizumab) and Pagenax (brolucizumab) in the Indian market.

The Agreement is expected to support the company's entry into the ophthalmology therapy area and expand its commercial portfolio. The upfront consideration payable by the company to NHPL is ₹10 crores.  

The announcement comes a day after Novartis India purchased the trademarks ‘Minipress’ and ‘Minipres’ registered in India along with certain related intellectual property rights from Pfizer Inc. USA and Pfizer Products Inc. USA for ₹1,250 crore. 

Minipress XL (containing prazosin) is primarily indicated in India for treating hypertension (high blood pressure) and managing the urinary symptoms of benign prostatic hyperplasia (BPH).  

The company executed the asset purchase agreement and trademark assignment deeds with Pfizer on September 7, Novartis India had informed the stock exchanges.   

As per IQVIA MAT July’26 data, Minipress XL recorded revenue of ₹228.6 crores and has been growing at a CAGR of 6.3 % for past four years while the category has been growing at 9% CAGR for past four years. 

In July, ChrysCapital completed the acquisition of 70.68% stake in Novartis India from its Swiss parent Novartis AG for ₹1446 crore. The listed entity was primarily focused on the sale of the legacy generic brands of Novartis in India.