India's private equity firm ChrysCapital has completed the acquisition of a controlling 70.68% stake in Novartis India Ltd (NIL) from Swiss pharmaceutical major Novartis AG, marking its first majority-controlled investment in the country's pharmaceutical sector.The acquisition brings the BSE-listed pharmaceutical company under private equity ownership, with ChrysCapital aiming to build a leading branded generics platform focused on the Indian market.Also Read: FSSAI suspends licence of Dior Pharmaceuticals for violations at nutraceutical plantNovartis India has been present in the country for several decades and markets products across therapeutic segments including pain management, calcium supplementation, gynaecology, neurosciences and transplant immunology. Its portfolio includes brands such as Voveran, Calcium Sandoz and Tegrital.ChrysCapital said the acquisition reflects its confidence in the long-term growth potential of India's branded pharmaceuticals market. The firm plans to leverage its healthcare investment experience and sector network to support the company's next phase of expansion and strengthen its market position.As part of the transition, the company will adopt a new name and corporate identity following its separation from Novartis AG.To lead the business in its next phase, Novartis India has appointed Vikas Gupta as its Chief Executive Officer and Managing Director. The company has also appointed Ramesh Ramadurai, Suchita Sharma and Shashank Sinha as independent directors on its board.Also Read: BDR Pharmaceuticals eyes controlling stake in Acme Formulation“A strong management team is central to any successful organization, and NIL is fortunate to have Dr. Vikas Gupta at the helm - someone who brings both the experience and the vision this business needs. Combined with NIL's legacy brands and market standing, ChrysCapital believes the foundation for long-term value creation is firmly in place,” Kshitij Sheth, Managing Director, ChrysCapital Advisors, said.Commenting on the acquisition, Vikas Gupta, said: “NIL has earned its place in Indian healthcare over many decades. Today we begin a new and exciting chapter in NIL’s history. We carry forward decades of scientific rigour and physician trust - from that strong foundation and with ChrysCapital’s backing we have the resources and focus to grow our portfolio with purpose, reach more patients, and build on what this organization has always stood for.”