Novartis India has received an approval for buyback of up to 34.5 lakh shares, accounting for about 12.26% of the existing paid up capital of the company, for up to Rs 231.15 crore. The company’s board has approved a buyback proposal for purchase by the company of up to 34.5 lakh equity shares of Rs 5 each at a price of Rs 670 per share.
Novartis is a world leader in the research and development of products to protect and improve health and well-being. The company has core businesses in pharmaceuticals, vaccines, consumer health, generics, eye care and animal health.
