The Hindu Business Line : Novartis India to launch two cardio products

Mr Ranjit Shahani, Chief Executive Officer (CEO), Novartis India Ltd said on the sidelines of the company's analysts meet here today that Escolin, a low potential statin drug would be launched in the last quarter of this year. Apart from these two products, the company would introduce a Type II diabetes drug, Stalix early next year.

The company is planning to revitalise its mature brands, mainly Voveran, Tegrital, Mephigen and Synthesinon to bolster the sales from its pharmaceutical division. "We are looking at introducing line extensions and revamping about three to four products in the pharma stable," said Mr Shahani.

At the forthcoming annual general meeting, Novartis India has sought the approval of its shareholders for an enabling resolution to buy back shares. However, on being queried about the resolution, Mr Robert L. Thompson, Vice-Chairman, President & Managing Director, Novartis India Ltd, said it was just an enabling resolution and that the company was unlikely to announce a buyback offer in the short-term.

On the animal health business, Mr Thompson said that the company expected to do well in this sector, which is one of the fastest growing. Currently, the animal health division contributes eight per cent to the overall turnover.

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