Novartis India Board Approves New AoA, ESOP Plan, DRL Deal Termination

Novartis India Ltd's Board of Directors met on August 7, 2026, approving several key resolutions. These include the adoption of a new Articles of Association, subject to shareholder approval at the upcoming Annual General Meeting. The Board also approved the "Employee Stock Option Plan 2026", pending shareholder consent. Additionally, the company resolved to terminate its Distribution and Promotion Agreement with Dr. Reddy’s Laboratories Limited (DRL), effective September 30, 2026. This termination will allow Novartis India to re-acquire exclusivity and market access for certain products. The notice for the 78th Annual General Meeting was also approved.