Novartis India Limited Novartis India approved a proposal to change its corporate name and adopt a revised Memorandum of Association during a Board meeting held on August 17, 2026. The resolution also included amendments to the notice for the company’s 78th Annual General Meeting.

The Board considered these items pursuant to Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015. The meeting commenced at 7:15 pm and concluded at 7:30 pm.

Key Resolutions

The Board approved the following matters, subject to shareholder ratification:

• Adoption of a new set of Memorandum of Association to align with Table A of Schedule I of the Companies Act, 2013.
• Proposal for a change of company name and consequential alterations to the Memorandum and Articles of Association, following approval from the Central Registration Centre (CRC).
• Amendment to the Notice of the 78th Annual General Meeting, previously approved by the Board on August 7, 2026.

Next Steps

All approved proposals are contingent upon shareholder approval at the ensuing Annual General Meeting. The company has disclosed that further details are available on its official website.

Novartis India Limited terminated its Distribution and Promotion Agreement with Dr. Reddy’s Laboratories Limited on August 7, 2026, ending a partnership that granted the latter exclusive rights to promote and sell certain products. The termination, which becomes effective on September 30, 2026, allows Novartis India to re-acquire exclusivity and secure direct market access for these products, marking a strategic shift in its go-to-market approach.

The decision was taken during a Board meeting held on Friday, August 7, 2026, which commenced at 06:50 P.M. (IST) and concluded at 07:08 P.M. (IST). The disclosures were made pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with relevant SEBI circulars.

Key Board Approvals

The Board considered and approved several strategic and governance matters:

• Termination of DRL Agreement: The agreement dated February 11, 2022, is terminated effective September 30, 2026. This move enables Novartis India to regain control over the promotion, distribution, and sale of products previously managed by Dr. Reddy’s Laboratories Limited.
• New Articles of Association: A new set of Articles of Association was adopted to align with Table F of Schedule I of the Companies Act, 2013. Shareholder approval is required at the ensuing Annual General Meeting (AGM).
• ESOP 2026: The "Employee Stock Option Plan 2026" was adopted, subject to shareholder approval at the AGM.
• AGM Notice: The notice for the 78th Annual General Meeting of Members was issued.

Agreement Details

Strategic Implications

The termination of the agreement with Dr. Reddy’s Laboratories Limited marks a shift in Novartis India’s go-to-market strategy for specific product lines. By reclaiming exclusivity, the company aims to directly manage market access and distribution, potentially allowing for more integrated promotional efforts and tighter control over supply chain dynamics. The alignment of the Articles of Association with the Companies Act, 2013, reflects ongoing governance modernization, while the new ESOP plan underscores the company’s focus on employee retention and incentive alignment.

The Company Secretary and Compliance Officer, Chandni Maru, signed the disclosure. Further details are available on the company’s website.