Wockhardt has concluded the divestment of Nutrition Business to Danone on July 26, 2012 for a consideration of Rs 1,280 crore, including its wholly owned subsidiary.
Last year in August, Wockhardt had agreed to sell its nutrition business to French food multinational Danone for more than double the amount at which it had signed a similar deal with US pharmaceutical giant Abbott a year ago. Under the current agreement, Danone would acquire Wockhardt's nutrition business and brands such as Farex, Dexolac, Nusobee and Protinex as well as related industrial operations from Carol Info Service, located in Punjab, to enter the baby nutrition and medical nutrition markets in India.
Wockhardt is one of the few companies with end to end integrated capabilities for its products, starting with the manufacture of the oral and sterile API’s , the dose forms and marketing through wholly owned subsidiary in the US, enabling the company to capture maximum value.
