Nestlé, Dr. Reddy’s form joint venture to expand nutraceutical portfolio
Nestlé India and Dr. Reddy’s Laboratories Ltd on Thursday announced that they have entered into a definitive agreement to form a joint venture to bring innovative nutraceutical brands to consumers in India and other agreed territories.
According to the company’s press statement, the partnership will bring together the well-known global range of nutritional health solutions as well as vitamin, minerals, herbals and supplements of Nestlé Health Science (NHSc) with the strong and established commercial strengths of Dr. Reddy’s in India.
“The joint venture will help JV Partners combine their strengths and grow their complementary nutraceuticals portfolios in categories such as metabolic, hospital nutrition, general wellness, women’s health and child nutrition for consumers across India. The JV Company will be headquartered in Hyderabad. The JV Company will leverage the capabilities as well as services of the Nestlé Group and Dr. Reddy’s,” the company said in a statement.
Select brands will be licensed by the JV Partners to the JV company, it added. The Nestlé Group will license brands such as Nature’s Bounty, Osteo Bi-Flex, Ester-C, Resource High Protein, Optifast, Resource Diabetic, Peptamen, Resource Renal and Resource Dialysis. Dr. Reddy’s will license brands such as Rebalanz, Celevida, Antoxid, Kidrich-D3, Becozinc in the nutrition, and OTC segments, it stated.
“I am very happy to share that we are entering into a joint venture with Dr. Reddy’s Laboratories Ltd. We have been on a journey where we strive to add value to the lives of our consumers through powerful brands and products. This joint venture is another important step in that direction, allowing us to bring our science-backed nutritional solutions to more people
Read more on financialexpress.com
