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Will Novartis India Buyback Offer Enthuse?

Executive Summary

Novartis India Ltd was pummeled on local bourses on May 27, a day after the firm announced board clearance for a buyback offer amid weak quarterly numbers. The buyback aims to "distribute the proceeds" of Novartis India's 2015-16 divestment of its OTC and animal health businesses, though some experts claimed the offer is unlikely to enthuse investors.

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