Novartis Increases Its Offer Price on Novartis India Ltd.
BASEL, May 28 /PRNewswire-AsiaNet/ --
This release is neither an offer to purchase nor a solicitation
of an offer to sell shares of Novartis India Ltd.
Novartis announced today an increase in the offer price for Novartis
India Ltd. to Rs 450 per share, from Rs 351 initially proposed.
The revised offer represents a premium of 63% to the closing share price
of Rs 275.6 of Novartis India Ltd. on March 24, which was the last trading
day before announcement of the offer.
This proposal represents Novartis' only and final price revision to this
offer, as May 28 is the last day on which the price can be revised.
Disclaimer
This release contains certain forward-looking statements relating to the
proposed acquisition by Novartis of shares in Novartis India Ltd. and to the
respective businesses of Novartis and Novartis India Ltd. Such
forward-looking statements are not historical facts and can generally be
identified by the use of forward-looking terminology such as "offer," or
similar expressions, or by express or implied discussions regarding the
potential acquisition of Novartis India Ltd. shares by Novartis; or by
discussions of strategy, plans, expectations or intentions or potential
synergies, strategic benefits or opportunities that may result from the
proposed acquisition. You should not place undue reliance on these
statements. Such forward-looking statements reflect the current plans,
expectations, objectives, intentions or views of Novartis with respect to
future events and involve known and unknown risks, uncertainties and other
factors that may cause actual results to be materially different from any
future results, performance or achievements expressed or implied by such
statements. There can be no guarantee that the proposed acquisition will be
completed in the expected form or within the expected time frame or at all.
Nor can there be any guarantee that Novartis will achieve any particular
future financial results or future growth rates or that Novartis will be able
to realize any of the potential synergies, strategic benefits or
opportunities as a result of the proposed acquisition. Among other things,
the expectations of Novartis could be affected by unexpected regulatory
actions or delays or government regulation generally; competition in general;
government, industry and general public pricing pressures; the impact that
the foregoing factors could have on the values attributed to the Novartis
Group's assets and liabilities as recorded in the Group's consolidated
balance sheet, as well as other risks and factors referred to in Novartis
AG's Forms 20-F on file with the US Securities and Exchange Commission.
Novartis is providing the information in this release as of this date and
does not undertake any obligation to update any forward-looking statements as
a result of new information, future events or otherwise.
This announcement is not an offer to purchase or the solicitation of an
offer to sell shares of Novartis India Ltd. Any offers to purchase or
solicitation of offers to sell will be made only pursuant to a formal offer
by Novartis. Shareholders are strongly advised to read the terms of the offer
carefully when they are available because they will contain important
information. Neither the offer to purchase will be made to, nor will tenders
pursuant to the offer to purchase be accepted from or on behalf of, holders
of shares in any jurisdiction in which making or accepting the offer to
purchase would violate that jurisdiction's laws.
About Novartis
Novartis AG provides healthcare solutions that address the evolving needs
of patients and societies. Focused solely on healthcare, Novartis offers a
diversified portfolio to best meet these needs: innovative medicines,
cost-saving generic pharmaceuticals, preventive vaccines, diagnostic tools
and consumer health products. Novartis is the only company with leading
positions in these areas. In 2008, the Group's continuing operations achieved
net sales of USD 41.5 billion and net income of USD 8.2 billion.
Approximately USD 7.2 billion was invested in R&D activities throughout the
Group. Headquartered in Basel, Switzerland, Novartis Group companies employ
approximately 98,000 full-time-equivalent associates and operate in more than
140 countries around the world. For more information, please visit
Novartis Media Relations
Central media line: +41 61 324 2200
Eric Althoff
Novartis Global Media Relations
+41 61 324 7999 (direct)
+41 79 593 4202 (mobile)
eric.althoff@novartis.com
e-mail: media.relations@novartis.com
Novartis Investor Relations
Central phone: +41 61 324 7944
Ruth Metzler-Arnold +41 61 324 9980 North America:
Pierre-Michel Bringer +41 61 324 1065 Richard Jarvis +1 212 830 2433
John Gilardi +41 61 324 3018 Jill Pozarek +1 212 830 2445
Thomas Hungerbuehler +41 61 324 8425 Edwin Valeriano +1 212 830 2456
Isabella Zinck +41 61 324 7188
e-mail: e-mail:
investor.relations@novartis.com investor.relations@novartis.com
SOURCE: Novartis
CONTACT: Eric Althoff, Novartis Global Media Relations
+41-61-324-7999 (direct)
+41-79-593-4202 (mobile)
eric.althoff@novartis.com, or
Central media line: +41-61-324-2200
media.relations@novartis.com;
Novartis Investor Relations:
Central phone: +41-61-324-7944
Ruth Metzler-Arnold
+41-61-324-9980
Pierre-Michel Bringer
+41-61-324-1065
John Gilardi
+41-61-324-3018
Thomas Hungerbuehler
+41-61-324-8425, or
Isabella Zinck
+41-61-324-7188
investor.relations@novartis.com
North America: Richard Jarvis
+1-212-830-2433
Jill Pozarek
+1-212-830-2445, or
Edwin Valeriano
+1-212-830-2456
investor.relations@novartis.com
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