Novartis Wants Tighter Grip Over Its Indian Ops; Announces Open Offer To Up Stake To 90%

MUMBAI - Swiss-headquartered Novartis announced a tender offer to buy an additional stake of up to 39 percent in its majority-owned Indian subsidiary Novartis India. The Swiss drug maker, which markets popular pain killer Voveran (diclofenac) in India among several other products, would raise its stake in the subsidiary to nearly 90 percent if the open offer for the shares passes successfully