Novartis India hits record high on retina drugs distribution deal, Pfizer brand acquisition
BUZZ-Novartis India hits record high on retina drugs distribution deal, Pfizer brand acquisition ** Shares of Novartis India NOIN.BO jump as much as 12.9% to a record high of 1,850.95 rupees
** NOIN enters into an exclusive promotion and distribution agreement with Novartis Healthcare to market its retina portfolio in India
** Under the deal, NOIN will exclusively distribute Accentrix and Pagenax in India, marking its entry into ophthalmology, and will pay NHPL an upfront fee of 100 million rupees ($1.05 million)
** On Monday, Novartis India said that it will acquire the Minipress brand and related IP from Pfizer PFE.N for about 12.5 billion rupees
** Pfizer India PFIZ.NS will stop selling Minipress XL and receive $13.9 million from the parent; the drug is used to treat hypertension and BPH-related urinary symptoms
** YTD, NOIN up ~137%
($1 = 94.8375 Indian rupees)
(Reporting by Urvi Dugar in Bengaluru)
((UrviManoj.Dugar@thomsonreuters.com; +91 9558725583;))
Recent news on Pfizer
See all newsBrief: Enanta Pharmaceuticals In Patent Infringement Action Against Pfizer
Brief: Edison Scientific Announces Agreement With Pfizer To Accelerate Research And Development
Bristol Myers raises 2026 revenue forecast, lowers EPS due to charge (updated)
Corrected: Bristol Myers raises 2026 revenue forecast, lowers EPS due to charge
Brief: Pfizer’S ELREXFIO Outperforms Standard Regimens And Meets Primary Endpoint In Phase 3 Study In Relapsed Or Refractory Multiple Myeloma