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Novartis completes divestment of medical nutrition business

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Basel, SWITZERLAND — Novartis has completed the sale of its medical nutrition business to Nestlé for $2.5 billion, the company announced in a press release.

The sale represents one of the company's final steps in its divestment program to focus the company's strategy on health care, with a core focus on pharmaceuticals. The final step in the divestment process will be the sale of the Gerber baby foods business to Nestlé for $5.5 billion, which is expected to be completed later this year, according to the release.