Pharma BD Deal Intelligence
Nestle SA acquired Novartis Medical Nutrition for approximately $2.5 billion (announced December 2006, completed July 2007 following regulatory review), adding the Optifast, Boost and Resource clinical-nutrition brands — a unit generating roughly $950 million in annual sales — and making Nestle the world's number-two player in healthcare nutrition behind Abbott. The divestiture allowed Novartis to refocus on its core pharmaceuticals business. Note: this is a medical-nutrition transaction, borderline relative to core pharma.