Dr. Reddy's Laboratories Limited (BSE:500124) is reportedly looking to pick up Novartis AG (SWX:NOVN)'s entire stake in Novartis India Limited (BSE:500672). This comes a couple of days after the Swiss pharmaceutical firm announced that it will be carrying out a strategic review of Novartis India. The 'strategic review' includes an assessment of Novartis AG's 70.68% stake in Novartis India.

According to a report in CNBC TV18, in February 2022, Novartis streamlined its operations by transferring sales and distribution rights of established medicines to Dr Reddy's, resulting in approximately 400 job cuts. The exclusive sales and distribution agreement includes medicines such as the Voveran range, calcium range and Methergine. While Dr Reddy's declined to comment on the matter, Novartis India responded: "While Novartis AG has commenced the strategic review that will include an assessment of its 70.68% shareholding in Novartis India Limited, no decision has yet been taken regarding the eventual outcome." According to the Swiss pharma giant, the exercise will have 'no impact' on Novartis Healthcare Private Limited.