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Nestle acquires US firm
25 May 2011: Nestle SA has consented to buy US gastrointestinal diagnostics firm Prometheus Laboratories for an estimated $1.1 billion (approx Rs 4,950 crore) as a part of its drive into health sciences. The combined entity will be able to leverage the products and geographic presence in gastrointestinal diagnostics.
Nestle, maker of Nescafe coffee, KitKat chocolate bars and Maggi soup, hopes the deal will help its sales of existing hospital nutrition products like Peptamen and Novasource as well as the development of new offerings.
Source: Business standard