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Nestle SA has acquired CM&D Pharma, a UK-based drug-maker start-up testing a chewing gum to help kidney-disease sufferers, the first move in the company's effort to build a business selling food products that targets diseases, according to a media report.
“Nestle SA has acquired a UK-based pharmaceutical start-up testing a chewing gum to help kidney-disease sufferers,” The Wall Street Journal reported.
Switzerland-based Nestle has significant presence in India and operates through its subsidiary Nestle India in the country.
Nestle's deal for CM&D Pharma Ltd is likely the first of many for Nestle Health Science SA, a subsidiary that opened its doors last month, the report noted.
According to the publication, Nestle confirmed that it had made the deal but did not disclose terms.
In September, Nestle said it would create the health science subsidiary and invest $534 million over 10 years in a sister research institute.
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