Companies / Switzerland
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Novartis Sells Medical Nutrition Unit
December 2006 | Company News AlertSorry, you must be a subscriber to view this article in full. If you are a subscriber please login.
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The Swiss pharmaceutical firm Novartis is to sell its medical nutrition unit to compatriot food and drink specialist Nestlé, in a deal worth approximately US$2.5bn. The move reflects the general trend in European drugs industry towards divestment, as exemplified by German firm Altana's sale of its pharmaceutical division in September, and the decoupling of chemicals and pharmaceutical sections of Dutch company Akzo Nobel, in November of this