Novartis India Ltd on Monday announced that its Board of Directors has approved the acquisition of the trademarks ‘Minipress’ and ‘Minipres’ from Pfizer Inc. USA and Pfizer Products Inc. USA for a total consideration of approximately Rs 1,250 crore.
In a regulatory filing, the company said the transaction involves the acquisition of the trademarks registered in India and certain related intellectual property rights for a total aggregate consideration of Rs 1,250 crore.
The company has executed an asset purchase agreement and trademark assignment deeds with Pfizer Inc USA and Pfizer Products Inc USA, with the signing and closing of the transaction scheduled to occur simultaneously, as per the filing.
The company noted that Minipress XL (containing prazosin) is primarily indicated in India for treating hypertension (high blood pressure) and managing the urinary symptoms of benign prostatic hyperplasia (BPH).
The filing further highlighted that as per IQVIA MAT July 2026 data, Minipress XL recorded revenue of Rs 228.6 crore and has been growing at a compound annual growth rate (CAGR) of 6.3 per cent for the past four years.
In a separate filing, Pfizer Ltd said it will discontinue the marketing, distribution and sale of Minipress XL with effect from Monday. “This is consequent to a decision by Pfizer Inc USA to discontinue the manufacture of Minipress XL,” it said.