 | 
Novartis completes strategic acquisition to strengthen number two position in global medical nutrition business
· New presence in US retail medical nutrition channel, access to Japanese market and strong brand portfolio benefit Novartis Medical Nutrition
Basel, Switzerland, February 17, 2004 – Novartis has completed the acquisition of Mead Johnson & Company's global adult medical nutrition business in a USD 385 million cash transaction. No divestments were required to obtain regulatory approval of the deal, which officially closed February 13, 2004.
The acquisition adds strong brands like Boost®, Isocal® and Ultracal® to Novartis Medical Nutrition's portfolio and expands its ability to meet the medical nutritional needs of a growing outpatient and ageing population.
Novartis Medical Nutrition now enjoys a strong presence in the fast-growing US retail channel for medical nutrition products, a platform in the Japanese market and increased opportunities to build its existing institutional medical nutrition business.
Announced on December 16, 2003, the acquisition includes the brands, trademarks, patents and intellectual property assets of Mead Johnson & Company's adult medical nutrition business.
Novartis Medical Nutrition, with global sales of USD 815 million in 2003 (including Nutrition & Santé), offers a complete range of enteral (tube feeding) and oral nutrition products and devices tailored to the varying needs of patients and healthcare professionals. The product range encompasses supplements, which are taken orally, as well as other products administered through tube feeds and specific medical devices. Its key brands include Isosource®, Novasource®, Resource®, Impact® and Compat®.
Disclaimer
This release contains certain "forward-looking statements," relating to the Company's business, which can be identified by the use of forward-looking terminology such as "increased opportunities," or similar expressions, or by express or implied discussions regarding the potential development and commercialization of new products or regarding potential future sales from any such products. Such statements reflect the current views of the Company with respect to future events and are subject to certain risks, uncertainties and assumptions. Many factors could cause the actual results to be materially different from any future results, performances or achievements that may be expressed or implied by such forward-looking statements. There can be no guarantee that the transactions that are the subject of this release will lead to the commercialization of any new products in any market, or that any such products will reach any particular sales levels. Any such commercialization or sales can be affected by, among other things, uncertainties relating to product development and clinical trials, regulatory actions or delays or government regulation generally, the ability to obtain or maintain patent or other proprietary intellectual property protection, increased government pricing pressures, and competition in general, as well as factors discussed in the Company's Form 20-F filed with the US Securities and Exchange Commission. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated or expected. Novartis is providing the information in this press release as of this date and does not undertake any obligation to update any forward-looking statements contained in this press release as a result of new information, future events or otherwise.
About Novartis
Novartis AG (NYSE: NVS) is a world leader in pharmaceuticals and consumer health. In 2003, the Group's businesses achieved sales of USD 24.9 billion and a net income of USD 5.0 billion. The Group invested approximately USD 3.8 billion in R&D. Headquartered in Basel, Switzerland, Novartis Group companies employ about 78 500 people and operate in over 140 countries around the world. For further information please consult http://www.novartis.com.# # # |