Novartis has completed the acquisition of Mead Johnson & Company's global adult medical nutrition business in a USD 385 million cash transaction. No divestments were required to obtain regulatory approval of the deal, which officially closed February 13, 2004.
The acquisition adds strong brands like Boost, Isocal and Ultracal to Novartis Medical Nutrition's portfolio and expands its ability to meet the medical nutritional needs of a growing outpatient and ageing population.
Novartis Medical Nutrition now enjoys a strong presence in the fast-growing US retail channel for medical nutrition products, a platform in the Japanese market and increased opportunities to build its existing institutional medical nutrition business.
Announced on December 16, 2003, the acquisition includes the brands, trademarks, patents and intellectual property assets of Mead Johnson & Company's adult medical nutrition business.
Novartis Medical Nutrition, with global sales of USD 815 million in 2003 (including Nutrition & Santé), offers a complete range of enteral (tube feeding) and oral nutrition products and devices tailored to the varying needs of patients and healthcare professionals. The product range encompasses supplements, which are taken orally, as well as other products administered through tube feeds and specific medical devices. Its key brands include Isosource, Novasource, Resource, Impact and Compat.