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A chocolate company is buying a baby food company from a drug company. Swiss company Nestle is the world's biggest food and drink company; they're known primarily in the United States for the brand of chocolate with the company's name on it. They have a large market share of infant nutritional1 products in the developing world, but none in the US. They're paying $5.5 billion to Swiss pharmaceutical2 company Novartis for Gerber Products, which has a 79% share of the US baby food market. Nestle tried to buy Gerber in 1994, losing to pharmaceutical company Sandoz, which later merged3 with Ciba-Geigy to form Novartis. Novartis is selling their baby food business to focus on health care products.
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1 nutritional | |
adj.营养的,滋养的 | |
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2 pharmaceutical | |
adj.药学的,药物的;药用的,药剂师的 | |
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3 merged | |
(使)混合( merge的过去式和过去分词 ); 相融; 融入; 渐渐消失在某物中 | |
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