Shares of Pfizer Ltd (India) plummeted by 5.88 percent on Tuesday, hitting a 52-week low of Rs 4,324. This sharp decline followed the company's announcement that it would discontinue the marketing, distribution, and sale of its hypertension medication, Minipress XL, in India.
The discontinuation, effective September 7, 2026, stems from a decision by Pfizer Inc, USA, to cease the manufacture of Minipress XL globally. Pfizer Ltd will receive a lump-sum payment of $13.9 million, approximately Rs 131.38 crore, from its US parent company in connection with this move.
Novartis India Soars on Trademark Acquisition
In stark contrast, Novartis India Ltd saw its shares surge by 12.87 percent, reaching a 52-week high of Rs 1,850.95. This significant rise came after the company's board approved the acquisition of the 'Minipress' and 'Minipres' trademarks from Pfizer Inc, USA, and Pfizer Products Inc, USA.
The transaction, valued at approximately Rs 1,250 crore, involves Novartis India acquiring the trademarks registered in India along with associated intellectual property rights. An asset purchase agreement and trademark assignment deeds have been executed, with the signing and closing of the deal scheduled to occur simultaneously.
Impact on the Indian Pharmaceutical Market
Minipress XL, which contains prazosin, is widely prescribed in India for the treatment of hypertension (high blood pressure) and for managing urinary symptoms associated with benign prostatic hyperplasia (BPH). According to IQVIA MAT July 2026 data, the drug generated a revenue of Rs 228.6 crore and demonstrated a Compound Annual Growth Rate (CAGR) of 6.3 percent over the past four years.
This strategic shift highlights a significant realignment within the Indian pharmaceutical market, with Pfizer exiting a key product line while Novartis expands its portfolio in a crucial therapeutic area.