ChrysCapital Completes Acquisition of Novartis India, Appoints Vikas Gupta as MD & CEO 

ChrysCapital has completed the acquisition of a 70.68% controlling stake in Novartis India Limited (NIL) from Swiss pharmaceutical company Novartis AG, marking its first majority-controlled investment in India’s pharmaceutical sector.

The transaction brings the BSE-listed pharmaceutical company under private equity ownership as ChrysCapital looks to build a branded generics platform focused on the Indian market. Following the acquisition, the company will adopt a new name and corporate identity.

Novartis India has been operating in the country for several decades and markets brands across therapeutic areas including pain management, calcium supplementation, gynecology, neurosciences and transplant immunology. Its portfolio includes brands such as Voveran, Calcium Sandoz and Tegrital.

As part of the transition, the company has appointed Dr Vikas Gupta as its Chief Executive Officer and Managing Director. It has also inducted Ramesh Ramadurai, Suchita Sharma and Shashank Sinha as Independent Directors on its board.

Commenting on the leadership transition, Kshitij Sheth, Managing Director, ChrysCapital Advisors, said: “A strong management team is central to any successful organization, and NIL is fortunate to have Dr. Vikas Gupta at the helm – someone who brings both the experience and the vision this business needs. Combined with NIL’s legacy brands and market standing, ChrysCapital believes the foundation for long-term value creation is firmly in place.”

Dr Vikas Gupta, Chief Executive Officer and Managing Director, NIL, said: “NIL has earned its place in Indian healthcare over many decades. Today we begin a new and exciting chapter in NIL’s history. We carry forward decades of scientific rigour and physician trust – from that strong foundation and with ChrysCapital’s backing we have the resources and focus to grow our portfolio with purpose, reach more patients, and build on what this organization has always stood for.”

Kotak acted as the exclusive financial advisor to Novartis AG. Freshfields and AZB & Partners served as legal advisors to Novartis AG, while Shardul Amarchand Mangaldas & Co. advised ChrysCapital. Ernst & Young acted as financial and tax diligence advisor to Novartis AG, while Alvarez & Marsal, Dhruva Advisors and Price Waterhouse & Co. advised ChrysCapital on financial and tax matters.