< backWockhardt to divest its Nutrition business to Danone
02 August, 2011
Pharmaceutical and Biotechnology major Wockhardt Limited and its subsidiary today announced the signing of agreements to divest their Nutritional business to Danone, one of the fastest growing food Company in the world. Wockhardt has presence in India’s nutritional category with Farex®, Dexolac®, Nusobee® and Protinex®.
These transactions are subject to customary closing conditions and various approvals.
Wockhardt continues to be on the growth track and the strategy to consolidate and rationalise all its core operations is showing encouraging results. Wockhardt is reinventing itself by taking fundamentally strong and positive steps with a firm focus on its core human pharmaceutical business.
About Wockhardt
Wockhardt is a high technology global pharmaceuticals and biotechnology major with innovative multi-disciplinary research and development programmes. It has 5 research centres and 21 world-class manufacturing plants in India, USA, UK, France and Ireland. Wockhardt has a multi-ethnic workforce of over 6500 people from 14 different nationalities.
About Danone
One of the fastest-growingfood companies in the world, Danone is present in over 120 countries on five continents. Its mission is to bring health through food to as many people as possible. In 2010 Danone had more than 160 production plants and around 100,000 employees, generating sales of €17 billion, of which half were in emerging markets. The group holds top positions in healthy food through four businesses: it ranks no. 1 worldwide in Fresh Dairy Products, no. 2 in Bottled Water and Baby Nutrition, and is Europe’s no. 1 Medical Nutrition company. Listed on Euronext Paris, Danone is a component stock of leading social responsibility indexes including the Dow Jones Sustainability Indexes DJSI Stoxx and DJSI World, ASPI Eurozone and the Ethibel Sustainability Index.