The transaction will involve a total aggregate consideration of ₹1,250 crore, Novartis India said in an exchange filing.
Following the board’s approval at its meeting held on September 7, Novartis India executed an asset purchase agreement and trademark assignment deeds with Pfizer Inc. and Pfizer Products Inc. for the transaction.
Under the agreement, Pfizer will assign the Minipress and Minipres trademarks registered in India, along with certain related intellectual property rights, to Novartis India. The signing and closing of the transaction will take place simultaneously, the company said.
According to IQVIA MAT July 2026 data cited by Novartis India, Minipress XL recorded revenue of ₹228.6 crore and grew at a compound annual growth rate of 6.3% over the past four years. The category, meanwhile, expanded at a CAGR of 9% during the same period.
Minipress XL, which contains prazosin, is primarily used in India for the treatment of hypertension, or high blood pressure, and for managing urinary symptoms associated with benign prostatic hyperplasia (BPH).
Pfizer to discontinue Minipress XL sales
Separately, Pfizer said on Monday that it will discontinue the marketing, distribution and sale of Minipress XL in India with effect from September 7, 2026.
The decision follows Pfizer Inc.’s decision to discontinue the manufacture of Minipress XL, Pfizer Ltd said in an exchange filing.
In connection with the discontinuation, Pfizer Ltd will receive a lump-sum payment of $13.9 million, or approximately ₹131.38 crore, from Pfizer Inc. USA.
Shares of Pfizer were trading 0.8% lower at ₹4,572.70 apiece on the NSE at 11:45 am on Monday.
Novartis India said the transaction is not a related-party transaction and that Pfizer Inc and Pfizer Products Inc are not related to the company’s promoter, promoter group or group companies.
Dr Reddy’s ends Novartis India pact
Last month, Dr Reddy’s Laboratories terminated its distribution and promotion agreement with Novartis India for select brands in India following a change in the controlling shareholding of Novartis India.
The agreement, originally signed on February 11, 2022, covered the distribution and promotion of select brands in the domestic market. Dr Reddy’s said it would, however, continue to commercialise the brands covered under the agreement until September 30, 2026.
Shares of Novartis India were trading 2.9% higher at ₹1,683.35 apiece on the BSE at 11:45 am on Monday. The stock has advanced about 68% so far in 2026.
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