Mead Johnson seeks U.S. turnaround
This article was originally published in The Tan Sheet
Executive Summary
The nutritionals company relies on product launches and rebranding, along with packaging innovations, to reclaim market share in the U.S. from Abbott Nutrition. Net sales in North America and Europe during Mead Johnson's third quarter plummeted 16.5 percent to $286 million. The Glenview, Ill.-based company is introducing products in the U.S. at a record rate to compete with recent Abbott launches, "and we are beginning to see signs of stabilization," said CEO Stephen Golsby during an Oct. 22 earnings call. The firm's Asia/Latin America segment grew 4.9 percent with $413.8 million in net sales during the July-September period. Mead Johnson plans to expand distribution in China and establish a pediatric nutrition institute there, Golsby said. Abbott is developing a similar facility in Singapore (1"The Tan Sheet" March 2, 2009, In Brief). Additionally, Golsby said Mead Johnson has hired Tim Brown, formergeneral manager of Procter & Gamble's North America Personal Health Division, as general manager of its U.S. business
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