New US acquisition for Nestlé Health Science will strengthen Brain Health and Metabolic Health portfolios with new medical foods
* Reuters is not responsible for the content in this press release.
For best results when printing this announcement, please click on the link below: http://pdf.reuters.com/htmlnews/8knews.asp?i=43059c3bf0e37541&u=urn:newsml:reuters.com:20130226:nHUGcXFH Nestlé S.A. / New US acquisition for Nestlé Health Science will strengthen Brain Health and Metabolic Health portfolios with new medical foods . Processed and transmitted by Thomson Reuters ONE. The issuer is solely responsible for the content of this announcement. Nestlé Health Science, a fully owned subsidiary of Nestlé, has agreed to acquire the business of Pamlab http://www.pamlab.com/ , a US-based company with an innovative portfolio of medical food products for use under medical supervision in the nutritional management of patients with mild cognitive impairment, depression and diabetic peripheral neuropathy. Strategic fit The acquisition further strengthens Nestlé Health Science's capacity to deliver personalised healthcare to address chronic medical conditions through nutrition, especially in the areas of metabolic health and brain health. "The acquisition of the Pamlab business is aligned with our strategic ambition to provide science-based nutritional solutions for people with chronic medical conditions. Pamlab will particularly strengthen our brain health platform and provide us an additional foothold in metabolic health in the US," said Luis Cantarell, Nestlé Health Science President and Chief Executive Officer. "By leveraging our nutrition heritage and US operations with Pamlab's proven expertise in medical foods and strong sales force capabilities, together we can play a key role in helping to manage certain chronic diseases and improve the quality of patients' lives," he added. Commercialised products that improve quality of life Pamlab's portfolio of prescription medical food products for use under medical supervision includes Metanx, one of their key products that is formulated to meet the distinct nutritional requirements of patients with diabetes to help restore the metabolic processes associated with peripheral neuropathy. This serious condition is common among those with Type 2 Diabetes, where the patient's peripheral blood flow has been compromised and their nerves damaged. Pamlab also makes Deplin, a medical food specifically formulated to provide necessary nutritional support for certain people on prescribed antidepressant therapy for clinical depression. Deplin contains l-methylfolate, the active ingredient of folate, to help balance three neurotransmitters associated with mood: serotonin, dopamine and norepinephrine. In addition, the company produces CerefolinNAC, a medical food to help address distinct metabolic nutritional needs associated with mild cognitive impairment. A common purpose "We are excited to join forces with Nestlé Health Science, and we share their commitment to personalised nutrition," said Eric Wingerter, Pamlab President and Chief Executive Officer. "With their support, we will accelerate the development and deployment of our innovative nutritional solutions for people with chronic metabolic and neurologic conditions. "We are united by a common purpose, and a common culture, founded on our passion for patients to make a difference in people's lives." Building on ambition towards science-based nutritional solutions Nestlé Health Science's core business provides nutritional solutions for people with specific dietary needs related to illness or disease states in the area of ageing medical care, critical care and surgery, and paediatric medical care. The company is also developing new approaches to chronic diseases in the areas of gastrointestinal (GI) health, metabolic health and brain health. In 2012 Nestlé Health Science agreed to form a 50/50 joint venture named Nutrition Science Partners, Ltd to develop nutritional and medicinal products derived from botanical plants to address gastrointestinal disorders. This transaction is subject to regulatory approval. Other acquisitions and partnerships include: Prometheus Laboratories, a U.S. firm specialising in diagnostics and licensed speciality pharmaceuticals in GI and oncology; Vitaflo, a provider of clinical nutritional solutions for infants, children and adults with genetic disorders that affect how food is processed by the body; and a minority investment in U.S firm Accera, specialising in medical foods intended for the clinical dietary management of mild to moderate Alzheimer's disease. Terms of acquisition The terms of Nestlé Health Science's acquisition of Pamlab are not being disclosed. The transaction is subject to regulatory approval. Media enquiries Tel: +41 21 924 2200 Email: firstname.lastname@example.org mailto:email@example.com --------------------------------------------------------------------------------------------------- This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Nestlé S.A. via Thomson Reuters ONE HUG#1680988 --- End of Message --- Nestlé S.A. Avenue Nestlé 55 Vevey WKN: 887208;ISIN: CH0038863350;