Swiss food and nutrition products giant Nestlé S.A.'s (NSRGY.PK,NSTR.L) fully owned subsidiary Nestlé Health Science has agreed to acquire the business of Pamlab, a US-based medical food products company to strengthen its brain health platform. The terms of the deal were not disclosed.
Pamlab's products are for use under medical supervision in the nutritional management of patients with mild cognitive impairment, depression and diabetic peripheral neuropathy.
Pamlab's portfolio of prescription medical food products includes Metanx, formulated to meet the distinct nutritional requirements of patients with diabetes to help restore the metabolic processes associated with peripheral neuropathy.
The company also produces Deplin, a medical food formulated to provide necessary nutritional support for certain people on prescribed antidepressant therapy for clinical depression.
In addition, the company produces CerefolinNAC, a medical food to help address distinct metabolic nutritional needs associated with mild cognitive impairment.
Luis Cantarell, Nestlé Health Science President and CEO, said, ''The acquisition of the Pamlab business is aligned with our strategic ambition to provide science-based nutritional solutions for people with chronic medical conditions. Pamlab will particularly strengthen our brain health platform and provide us an additional foothold in metabolic health in the US."
The stock rose 0.8 percent on Monday to close at 64.90 Swiss francs.
by RTT Staff Writer
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