Nestlé is challenging the global drugs industry with plans to invest SFr500m ($510m) over the next decade to support the creation of a standalone health science business to tackle obesity and chronic disease.
The Swiss food group, which announced the move on Monday, appointed Luis Cantarell, one of its most experienced executives, to “pioneer a new industry between food and pharma” that will develop products to combat diabetes, heart problems and Alzheimer’s.
The decision reflects a trend among food and pharmaceutical groups that are converging around high-margin non- prescription health products, for both humans and animals.
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