Novartis completes divestment program with transfer of Gerber baby foods business
Novartis has completed the sale of its Gerber baby foods business to Nestlé for USD 5.5 billion, the final step in a divestment program to focus the Group’s strategy on healthcare with pharmaceuticals at the core.
Following this final divestment, all Novartis businesses activities will be concentrated on healthcare, areas where the Group has expertise and synergies in addressing the needs of patients and customers. These include innovative pharmaceuticals for human and animal health, vaccines and diagnostics, generics and consumer health products such as over-the-counter (OTC) brands.
The foregoing release contains forward-looking statements which can be identified by the use of terminology such as “will”, or similar expressions, or by express or implied discussions regarding the potential impact of the divestment of Gerber on Novartis AG’s net sales, operating income, net income and business generally. Such statements reflect the current plans, expectations, objectives, intentions or views of management with respect to future events, are based on the current beliefs and expectations of management and are subject to certain risks, uncertainties and assumptions. Management’s expectations could be affected by, among other things, unexpected regulatory actions or delays; competition in general; the general economic and regulatory environment and other risks such as, but not limited to, those referred to in Novartis AG’s Form 20-F filed with the US Securities and Exchange Commission. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated, believed, estimated or expected. Novartis is providing the information in this press release as of this date and does not undertake any obligation to update any forward-looking statements contained in this press release as a result of new information, future events or otherwise.
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