Novartis India shares zoom 20% to hit record high; Minipress deal fuels rally

Shares of Novartis India Ltd surged 20 per cent in Wednesday's trade to hit a record high of Rs 2,188, extending their recent gains after the company announced the acquisition of the 'Minipress' and 'Minipres' trademarks from Pfizer Inc, USA, and Pfizer Products Inc, USA.

The company's board has approved the acquisition for a total consideration of approximately Rs 1,250 crore, Novartis India said in a regulatory filing.

The transaction covers the 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. The signing and closing of the transaction are scheduled to take place simultaneously, the company said.

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), according to Novartis India.

As per IQVIA MAT July 2026 data cited by the company, Minipress XL generated revenue of Rs 228.6 crore and recorded a 6.3 per cent CAGR over the past four years.

Pfizer shares hit 52-week low

Meanwhile, shares of Pfizer Ltd fell 3.14 per cent in Wednesday's trade to hit a fresh 52-week low of Rs 4,178.05 after the pharma firm discontinued marketing, distribution and sale of Minipress XL in India.

Pfizer said the discontinuation took effect from September 7, 2026, following a decision by Pfizer Inc, USA, to discontinue the manufacture of Minipress XL.

The company also said it will receive a lump-sum payment of $13.9 million, or around Rs 131.38 crore, from Pfizer Inc, USA, in connection with the discontinuation.