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Business
Pfizer Sells Nutrition Business To Nestlé
by Ann M. Thayer
April 30, 2012
| A version of this story appeared in
Volume 90, Issue 18
Fulfilling a promise to focus on pharmaceuticals, Pfizer has agreed to sell its nutrition business to Switzerland’s Nestlé for $11.9 billion in cash. Focused primarily on pediatric nutrition products such as infant formula, the business grew 15% in 2011 to achieve $2.1 billion in sales. About 85% of the business’s sales are in emerging markets. Nestlé will combine the Pfizer operation with its own nutrition unit, which had $7.9 billion in sales in 2011. The deal is expected to be completed by the first half of 2013.
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