Pfizer Sells Minipress India Rights to Novartis for ₹1,250 Crore, Discontinues Sales
PFE sits 21% above its 52-week low of $23.58.
Summary
Pfizer is divesting its Minipress hypertension drug in India, selling the trademarks and related IP to Novartis India for ₹1,250 crore (~$150M). Simultaneously, Pfizer will discontinue marketing and distribution of Minipress XL in India effective September 7, 2026, and its Indian subsidiary will receive a $13.9 million lump-sum payment from the parent. The drug generated ₹228.6 crore in revenue with 6.3% CAGR, so the sale represents a modest but clean exit from a non-core market. This follows Pfizer's Q2 2026 net loss and $2.5B cost-savings program, aligning with its portfolio streamlining. The transaction is not related-party and closes immediately upon signing.
At the time of this announcement, PFE was trading at $28.44 on NYSE in the Life Sciences sector, with a market capitalization of approximately $162.2B. The 52-week trading range was $23.58 to $29.21. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: CNBC TV18.