Novartis will divest its 70.68% stake in Novartis India Limited to a private-equity consortium for about $159 million while retaining separate in-country commercial and R&D operations through Novartis Healthcare Private Limited. The buyers include ChrysCapital, WaveRise, and Two Infinity Partners and have launched an offer for additional public shares. The sale follows a strategic review aimed at concentrating Novartis on innovative medicines after its Sandoz spin-out. The divestiture transfers the legacy, off-patent portfolio to the private-equity group while Novartis maintains an R&D presence and commercial arm in India. The transaction is expected to close in Q3 2026 and reflects a common Big Pharma playbook: monetizing mature assets in emerging markets while preserving innovation capabilities and key local teams.