Novartis confirmed plans to sell its 70.68% stake in Novartis India Limited to a private‑equity consortium for about $159 million while retaining separate commercial and R&D operations in the country. The buyers include ChrysCapital Fund X, WaveRise Investments and Two Infinity Partners; the sale is expected to close in Q3 2026. The transaction follows a strategic refocus on innovative medicines after the Sandoz spin‑out and transfers Novartis’ legacy branded generics business to financial owners while preserving in‑country commercial teams, a corporate center in Hyderabad and R&D groups. Novartis said it will continue to operate Novartis Healthcare Private Limited to manage sales of innovative drugs. The deal underscores pharma’s ongoing portfolio reshaping—monetizing mature assets to concentrate capital on innovative pipelines—while raising operational questions about manufacturing, supply‑chain continuity and workforce impact in India. Next steps: regulatory clearances, potential public tender for minority shares, and transition planning for manufacturing and distribution arrangements.