Basel, Switzerland-based pharmaceutical company and health and wellness research and development company
Novartis AG (NYSE: NVS) will delay the sale of its health foods, slimming and sports nutrition units due to a lack of offers, according to a Nov. 29
article at
FoodandDrinkEurope.com. The company says offers for the businesses have not been in line with the $277.9 million in sales that the units brought in during 2001.
Instead, Novartis will reorganize the businesses, which include its Isotar sports drink and its Cereal and Gerble diet brands, into one unit called Nutrition et Sante. Alain Chatillon, who currently heads the health and functional foods business for Novartis in France, will be Nutrition et Sante's new CEO, headquartered in Revel, France.