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Novartis completes divestment program with sale of Gerber

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BASEL, Switzerland — Novartis has completed the sale of its Gerber baby foods business to Nestlé for $5.5 billion, the company announced in a press release.

The sale represents the final step in Novartis' divestment program to focus the company's strategy on health care, with a core focus on pharmaceuticals, the release said.