Novartis India shares soar 18% to record high; extend 9-day gains to 74%; here's why

Shares of Novartis India Ltd surged 18 per cent in Thursday's trade, extending its recent rally to ninth straight session. The stock has gained 74 per cent over its August 28 closing level, with investors reacting to a series of business developments involving the pharma company.

The fresh buying has been seen after the company entered into an exclusive promotion and distribution agreement with Novartis Healthcare Private Ltd for the promotion and distribution of its retina portfolio, comprising Accentrix and Pagenax, in India.

Following the development, Novartis India shares opened at Rs 2,252 on Thursday and hit a high of Rs2,588, up 18.28 per cent over their previous close of Rs 2,188. The stock had closed at Rs 2,186.40 on September 9, after rising 20 per cent in the previous session.

The sharp move follows the company's announcement earlier this week that its board had approved the acquisition of the Minipress and Minipres trademarks and related intellectual property from Pfizer Inc, USA, and Pfizer Products Inc, USA, for approximately Rs1,250 crore.

The transaction covers trademarks registered in India along with certain related intellectual property rights. Novartis India has entered into an asset purchase agreement and trademark assignment deeds with the two Pfizer entities, with signing and closing scheduled to take place simultaneously.

Minipress XL contains prazosin and is primarily indicated in India for the treatment of hypertension, or high blood pressure, and for managing urinary symptoms associated with benign prostatic hyperplasia (BPH).

As per IQVIA MAT July 2026 data cited by Novartis India, Minipress XL generated revenue of Rs228.6 crore and recorded a 6.3 per cent compounded annual growth rate over the past four years.

The Minipress acquisition gives Novartis India control of an established brand with an existing revenue base in the Indian market. The company has also announced an exclusive promotion and distribution agreement with Novartis Healthcare Pvt Ltd for its Accentrix and Pagenax retina portfolio, adding another business development to the recent stream of announcements.