NestlIndia and Dr. Reddy's Laboratories announced that they have entered into a definitive agreement to form a joint venture to bring innovative nutraceutical brands to consumers in India and other agreed territories.
The partnership will bring together the well-known global range of nutritional health solutions as well as vitamin, minerals, herbals and supplements of NestlHealth Science (NHSc) with the strong and established commercial strengths of Dr. Reddy's in India.
The joint venture will help JV Partners combine their strengths and grow their complementary nutraceuticals portfolios in categories such as metabolic, hospital nutrition, general wellness , women's health and child nutrition for consumers across India. The JV Company will be headquartered in Hyderabad. The JV Company will leverage the capabilities as well as services of the NestlGroup and Dr. Reddy's.
Select brands will be licensed by the JV Partners to the JV company. The NestlGroup will license brands such as Nature's Bounty, Osteo Bi-Flex, Ester-C, Resource High Protein, Optifast, Resource Diabetic, Peptamen, Resource Renal and Resource Dialysis. Dr. Reddy's will license brands such as Rebalanz, Celevida, Antoxid, Kidrich-D3, Becozinc in the nutrition, and OTC segments. The JV Company is expected to become operational in Q2 of FY'25.
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