March 25, 2009 / 4:41 AM / 10 years ago

Novartis makes open offer for 39 pct of India unit

MUMBAI, March 25 (Reuters) - Swiss drug maker Novartis NOVN.VX said on Wednesday it had made an open offer to acquire up to an additional 39 percent in its unit Novartis India (NOIN.BO) at 351 rupees per share.

The offer, if successful, will raise Novartis’ stake in the Indian unit to nearly 90 percent, the company said in a statement. ($1 = 51 rupees) (Reporting by Ami Shah)

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