Novartis might delist $419-million Indian arm

Novartis, the world's biggest drugmaker by sales, is exploring a delisting of its Indian unit, people with knowledge of the matter said. The Swiss pharmaceutical company is considering buying all the shares it doesn't already own in Novartis India, which has a market value of about $419 million, according to the people. Novartis executives met investment banks in recent weeks to discuss the procedures if it decides to pursue the delisting, the people said, asking not to be identified as the information is private. A deal would allow Novartis to save on regulatory costs associated with the listing, according to the people.