September 27/London/London Stock Exchange Aggregated Regulatory News Service -- Nestlé announced the creation of Nestlé Health Science S.A. and the Nestlé Institute of Health Sciences to "pioneer a new industry between food and pharma." These two separate organizations will allow Nestlé to develop in the area of personalzed health science nutrition to prevent and treat health conditions such as diabetes, obesity, cardiovascular disease and Alzheimer's disease, which are placing an unsustainable burden on the world's healthcare systems.
Nestlé Health Science S.A., a wholly owned subsidiary of Nestlé S.A., will become operational on January 1, 2011. The new company will be run at arm's length from Nestlé's main food, beverages and nutrition activities, and incorporate the existing global Nestlé HealthCare Nutrition business, which had a turnover of CHF 1.6 billion in 2009. Nestlé Health Science S.A. will also have access to external scientific and technological know-how through Nestlé's innovation network, as well as a number of venture capital funds in which the group has interests. Luis Cantarell, the company's designated president and CEO, will report to Paul Bulcke in his capacity as Administrateur délégué of the board of directors of Nestlé Health Science S.A., which is chaired by Peter Brabeck-Letmathe.