By 28 May, 2009

Swiss drugmaker Novartis AG is upping an offer to increase its stake in its India unit to $111 million or 450 rupees ($15.9) per share, from a previous 351 rupees, it said on Thursday.

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The bid seeks to increase Novartis' stake in Novartis India to nearly 90 percent from a previous 51 percent.

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"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," the company said in a statement.

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