Novartis to acquire worldwide adult medical nutrition business of Mead Johnson & Company
Novartis announced its intention to acquire the brands, trademarks, patents and intellectual property assets of Mead Johnson & Company's global adult medical nutrition business in a US $385 million cash transaction. Mead Johnson & Company, a subsidiary of Bristol-Myers Squibb Company, is a leader in sales and marketing of adult medical nutrition products.
Successful completion of the transaction will offer Novartis Medical Nutrition a strong presence in the fast-growing U.S. retail channel for medical nutrition products, expand its existing institutional medical nutrition business and enhance its access to the Japanese market. The acquisition will allow the business unit to further leverage its disease-specific brands consistent with its overall growth strategy.
"The acquisition of Mead Johnson & Company's adult medical nutrition business re-confirms our commitment to delivering high-quality products that help people maintain good health, recover from illnesses more quickly, and build the strength and vitality to combat disease," said Michel Gardet, Global Head of Novartis Medical Nutrition. "Enhancing our medical nutrition portfolio will allow us to better serve the needs of the growing outpatient and ageing populations."
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