Abbott gains Indian nutrition brands
This article was originally published in The Tan Sheet
Executive Summary
With the acquisition of Mumbai-based Wockhardt Ltd. nutritionals firm and products including the Farex, Dexolac and Nusobee formula brands, Abbott takes the No. 2 spot in India's pediatric nutrition category. The company also gains Protinex, the adult protein supplement segment leader, Abbott said July 28. Abbott's $130 million purchase of Wockhardt and certain subsidiaries provides the Abbott Park, Ill.-based firm manufacturing and commercial infrastructure in India, said Executive VP of Global Nutrition Holger Liepmann. While Abbott has experienced robust nutritionals growth recently in China, Southeast Asia and Latin America, negative effects of currency exchange hurt global sales figures in its fiscal 2009 second quarter (1"The Tan Sheet" July 20, 2009)
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