Business
Novartis seeks to deepen India innovation play – The Times of India
NEW DELHI: Swiss pharma major Novartis is sharpening its strategy in India as a pure-play innovator across core therapy segments, including cardiovascular, oncology and immunology, after divesting its stake in its listed arm earlier this year.Significantly, India increasingly contributes to nearly every molecule that Novartis commercialises globally, and is moving further up the value chain, with early scientific discovery — Phase I studies, beginning to take shape in the country, Novartis India country president and MD Amitabh Dube told TOI.In Feb, Novartis under a strategic review announced the sale of its 71% stake in its listed subsidiary, Novartis India, effectively exiting its legacy portfolio for about Rs 1,446 crore to a clutch of private equity investors, led by ChrysCapital. It retained its unlisted commercial arm, Novartis Healthcare, to drive its innovative medicines business in the country.
Typically, India largely serves as a development hub handling Phase II and III trials for MNCs, while early-stage research or innovation-intensive segments remain concentrated in developed markets.Novartis recently initiated Phase I clinical research in Ahmedabad and will continue late-stage Phase II and III programmes across its core therapeutic areas, Dube said in his first interview, following the review.A few of these global therapies, where India played a major role include Coartem Baby, the first antimalarial developed for infants, cardiovascular therapy Inclisiran (Sybrava), and a targeted radioactive therapy for prostate cancer Lutetium-177 vipivotide tetraxetan (Pluvicto).Novartis operates one of its three global development hubs in India (Hyderabad and Mumbai), alongside Basel (Switzerland) and the US. For instance, the India Development Hub contributed in four critical areas in Coartem Baby — supporting clinical operations, pharmaceutical development, regulatory submissions and safety oversight.“Our philosophy has been to transform into a pure-play innovative medicines company. It would not have been appropriate to retain these (legacy) brands without the right investments and focus. Our commitment to India remains strong-we have over 9,000 employees, launched two new molecules last year, and plan to launch one this year and two next year,” added Dube.
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Noel Tata part of 3-1 vote against Srinivasan, Singh at Tata edu trust – The Times of India
MUMBAI: Noel Tata has voted against the reappointment of Venu Srinivasan and Vijay Singh as trustees of Tata Education and Development Trust (TEDT), the largest corpus trust within Tata Trusts, in a move that widens fault lines within one of India’s most powerful philanthropic structures. It marks the first time Noel has made his opposition to the duo unequivocal.The vote, the last of four cast on the matter, added to a verdict that had already been sealed when Mehli Mistry became the first to oppose the duo’s extension, shortly after the trusteeship renewal circular was issued.Under TEDT’s governance rules, reappointments require unanimous consent among trustees – a threshold that had already been foreclosed by Mehli’s vote. Jehangir Mistry subsequently voted against both men as well. Srinivasan and Singh had each voted for the other. The tally stood at 3-1 against each of them.
Noel’s vote signals widening of Tata Trusts rift since ’25
Their tenures in an influential Tata trust that supports projects in India and abroad, formally expired on Sunday, May 10. Noel Tata voting against Srinivasan and Singh significantly curtails influence of both men within wider Tata Trusts ecosystem, even as they remain vice-chairmen of the Sir Dorabji Tata Trust (SDTT) and Sir Ratan Tata Trust (SRTT) — the two apex trusts that together hold controlling stake in Tata Sons.The rift between Noel and the duo deepened after Srinivasan and Singh publicly backed a listing of Tata Sons, a move Noel opposed. In an email to Tata Trusts CEO, Mehli said “My affidavit in response to the board composition change report for SDTT explains the reasons why I chose to take such a decision.” According to the affidavit, Noel, Srinivasan and Singh had wrongly voted against him at SDTT. He also said that Srinivasan had taken part in the vote even though his term had already ended at SDTT. TEDT, with a corpus of Rs 5,600 crore, has been among the most prominent Indian donors to Ivy League institutions, including Harvard Business School and Cornell University, and owns and operates two cancer hospitals in India while supporting 17 others through grants.Following the board changes, Noel remains chairman and perpetual trustee of TEDT. Mehli continues in his role as perpetual trustee, while Jehangir holds a fixed-term trusteeship. With Srinivasan and Singh’s departure, TEDT now sits at the minimum threshold of three trustees permitted under its deed. An email sent to Noel did not elicit a response. The vote is the latest and most visible expression of a fracture within Tata Trusts that has been widening since late 2025. Established by former Tata Trusts chairman Ratan Tata in 2008, TEDT is perhaps the only trust within Tata Trusts that can support social projects in India and abroad.
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