Nestle India and Dr. Reddy’s Laboratories have officially agreed to establish a joint venture (JV) to introduce innovative nutraceutical brands to consumers in India and other designated regions.
Nestle India and Dr. Reddy’s have agreed to collaborate and establish a new company called the JV company.
This joint venture, based in Hyderabad, will bring together Nestle Health Science’s extensive range of nutritional health solutions, vitamins, minerals, and supplements with Dr. Reddy’s strong presence in the Indian market.
The objective of this partnership is to expand their respective nutraceutical index in various fields such as metabolic care, hospital nutrition, overall well-being, women’s health, and child nutrition.
The JV partners will license specific brands to the JV company. Nestle Group will license brands like Nature’s Bounty, Osteo Bi-Flex, Ester-C, Resource High Protein, Optifast, Resource Diabetic, Peptamen, Resource Renal, and Resource Dialysis.
Dr. Reddy’s will license brands such as Rebalanz, Celevida, Antoxid, Kidrich-D3, and Becozinc in the nutrition and OTC segments. The JV Company is expected to start operating in the second quarter of FY’25.
Suresh Narayanan, Chairman and Managing Director of Nestle India, expressed his excitement about the new joint venture with Dr. Reddy’s Laboratories Ltd. He pointed up the company’s dedication to enhancing the lives of consumers through innovative brands and products. This partnership will allow Nestle to expand its reach and provide science-backed nutritional solutions to more people in India.
Dr. Reddy’s reputation for quality ranges with Nestle’s values, and together they aim to create a strong retail and distribution network to better serve consumers and improve their quality of life.
M.V. Ramana, CEO of Branded Markets for India and growing Markets at Dr. Reddy’s, expressed his activity for the joint venture with Nestle India. He highlighted the shared goal of promoting good health and the opportunity to introduce innovative products from Nestle Health Science to the Indian market.
Ramana indicated the collaborative nature of the partnership, which will support the strengths of both companies to improve access and affordability for consumers.
Date : 18 May 2023 Time : 10 AM to 05 PM Faculty : Asmita Thaokar (FSSAI National Level Resource Person)
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