The company also launched the third edition of its Innovation Challenge with the Food & Nutrition Innovation Institute at Tufts University, focusing on women’s health and healthy longevity. Winners will receive development support from Nestlé Health Science and Tufts University.

Hans Manning, Vice President of Innovation and Strategy at Nestlé Health Science’s R&D center in Bridgewater, New Jersey, said the partnerships would enable collaboration with entrepreneurs to develop differentiated products that improve consumer and patient health through nutrition-based solutions.

Nestle, the world’s biggest packaged food company, was already seen as a favoured bidder due largely to its deep pockets, and is paying for the acquisition in cash.

The Vevey-based firm expects the acquisition will generate sales of $2.4 billion this year and boost margins, thanks to its large exposure to emerging markets, where the population is growing quickly.

“Its strong brands and product portfolio, its talented people dedicated to the success of its business, together with its geographic presence – 85% of its sales are in emerging markets – will complement our existing infant nutrition business perfectly,” Nestle Chief Executive Paul Bulcke said on Monday.

Pfizer put its infant nutrition and animal health businesses up for sale last July as it looks to focus on its core pharmaceuticals business.

Health Care Asia
Home