The Swiss food group, most famous for its breakfast cereals, powdered milk shakes and chocolate bars, is now joining forces with Chinese pharma group Chi-Med to form a new company called Nutrition Science Partners (NSP).
NSP will be owned equally between both organisations.
NSP will research, develop, manufacture and sell medicine and nutrition products made from botanical plants rooted in traditional Chinese practices.
The deal grants Nestle access to Chi-Med’s extensive medicine library, which lists more than 50,000 extracts from over 1,200 different plants. This library is thought to be among the world’s largest.
The project will begin its focus on gastro-intestinal health, a market currently worth up to £3.7 billion...