Novartis increases its offer price on Novartis India Ltd.

28 mei 2009Corporate news announcement processed and transmitted by Hugin AS. The issuer is solely responsible for the content of this announcement. ---------------------------------------------------------------------- -------------- This release is neither an offer to purchase nor a solicitation of an offer to sell shares of Novartis India Ltd. Basel, Switzerland, May 28, 2009 - 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 http://www.novartis.com. # # # 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 +41 61 324 North America: Metzler-Arnold 9980 Pierre-Michel +41 61 324 1065 Richard Jarvis +1 212 830 Bringer 2433 John Gilardi +41 61 324 3018 Jill Pozarek +1 212 830 2445 Thomas +41 61 324 8425 Edwin Valeriano +1 212 830 Hungerbuehler 2456 Isabella Zinck +41 61 324 7188 e-mail: e-mail: investor.relations@novartis.com investor.relations@novartis.com --- End of Message --- Novartis International AG Posfach Basel WKN: 904278; ISIN: CH0012005267; Index: SLCI, SMI, SPI, SLIFE; Listed: Main Market in SIX Swiss Exchange, ZLS in BX Berne eXchange;