Pfizer nears $9-b deal with Nestle to sell infant nutrition biz: Report
The Wall Street Journal said Nestle, the Swiss food giant, had apparently beaten Groupe Danone and Mead Johnson Nutrition, which had considered a joint bid for the business, and that the final deal could be announced next week.
A Pfizer spokeswoman contacted by AFP refused to comment on the report, saying "no decisions have been made at this point" on the sale of the infant nutrition business or an animal health business also set to be auctioned off.
"The animal health and nutrition businesses are highly valued assets, and our decision about strategic options will be driven by value creation and delivering the best after -- tax value for our shareholders," she said. Pfizer has moved to unload peripheral entities in recent months in order to focus on its core medicine business.
In November its patent on the best-selling drug of all time, the cholesterol-lowering medication Lipitor, expired, opening the path to generic competitors for America's most popular medication.
Source: Business Line
Following his arrest, self-styled godman Asaram Bapu's absconding son Narayan Sai will be produced before a court in Rohini. Sai was taken to Ambedkar hospital for medical tests where he claimed he was being framed with allegations of sexual misconduct/rape.
Date 03-12-13, Duration 0:57, Views 335