Abbott to Acquire Nutrition Businesses, Expanding Presence in India
Wockhardt, based in Mumbai, India, has a significant presence in India's pediatric and adult nutrition segments with infant formulas, weaning foods and adult protein supplements. These transactions also include nutrition manufacturing facilities located in Lalru and Jagraon, India.
"This acquisition is an excellent strategic fit for Abbott to accelerate growth of its nutrition business in India, where the nutritional market is expected to experience strong growth in the coming years," said Holger Liepmann, executive vice president, Global Nutrition, Abbott. "Combining these trusted nutrition products, local manufacturing capability and commercial infrastructure with Abbott's existing pediatric and adult nutrition offerings positions Abbott very well to serve Indian consumers."
These transactions are subject to customary closing conditions and various approvals. Abbott expects the transactions to close in the second half of 2009.
Most read news
Other news from the department business & finance
Get the life science industry in your inbox
From now on, don't miss a thing: Our newsletter for biotechnology, pharma and life sciences brings you up to date every Tuesday and Thursday. The latest industry news, product highlights and innovations - compact and easy to understand in your inbox. Researched by us so you don't have to.