Pfizer shares hit 52-week low after Minipress XL discontinuation; Novartis zooms 13%

Shares of Pfizer Ltd fell 5.96 per cent in Tuesday's trade to hit a 52-week low of Rs 4,320.40 after the company 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.

In an exchange filing, Pfizer Ltd 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.

Meanwhile, shares of Novartis India Ltd surged 12.87 per cent to hit a 52-week high of Rs 1,850.95 after its board approved the acquisition of the trademarks 'Minipress' and 'Minipres' from Pfizer Inc, USA, and Pfizer Products Inc, USA.

The transaction has a total consideration of approximately Rs 1,250 crore, Novartis India said in a regulatory filing.

The company said the deal involves the acquisition of 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 Pfizer Inc, USA, and Pfizer Products Inc, USA. The signing and closing of the transaction are scheduled to take place simultaneously, according to the filing.

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), Novartis said.

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