Gurugram and Hyderabad , India : Nestle India Limited ( BSE : 500790 , NSE : NESTLEIND) ( hereinafter referred to as ' Nestle India ') and Dr. Reddy's Laboratories Limited ( BSE : 500124 , NSE : DRREDDY, NYSE: RDY, NSEIFSC: DRREDDY) ( together with all subsidiaries hereinafter referred to as ' Dr. Reddy's ') (also both collectively referred to as ' JV Partners ') announced today that it has entered into a definitive agreement to form a joint venture (the ' JV Company '). The JV company is being formed with the aim of bringing innovative nutraceutical brands to the market for customers in India as well as in other agreed territories . This partnership will bring Nestlé Health Sciences' ( NHSC ) globally renowned range of nutritional health products and vitamins , minerals , herbals and supplements to Dr. Reddy's strong and well-established business strengths in India will be added . The joint venture will enable the JV partners to combine their strengths and expand their portfolio of complementary nutraceuticals in categories such as metabolic , hospital nutrition , general wellness , women's health and pediatric nutrition with an eye on consumers across India.
The headquarters of this JV company will be in Hyderabad . Nestlé Group and Dr. The JV company will leverage the capabilities and services of both the Reddys .
Selected brands will be licensed to the JV company by the JV partners . Nestlé Group will license the brands Nature's Bounty, Osteo Bi - Flex , Easter - C , Resource High Protein , Optifast , Resource Diabetic , Peptamen , Resource Renal and Resource Dialysis to the JV company. Dr. Reddy's will license the brands Rebalance , Selevida , Antoxid , Kidrich - D3 , Bekozinc in the nutrition category as well as the OTC segment to the JV company. This JV company is expected to become operational in the second quarter of FY25 .
Chairman and Managing Director of Nestlé India Mr. Suresh Narayanan said about this joint venture , “ Dr. I am very happy to announce that we are entering into a joint venture with Reddy's Laboratories Limited . We have embarked on a journey to add value to the lives of consumers through effective brands and products . This joint venture is an important step in the same direction . Therefore, we will be able to deliver science-based nutritional products to more consumers in the country . Dr. Reddy's is a trusted name in the pharmaceutical industry . Dr. Reddys also believe . This joint venture will enable us to build a solid retail and distribution network . This will allow our brands to reach more consumers and make a meaningful difference in improving their quality of life .”
Dr. Reddy's Branded Markets ( India and Emerging Markets ) CEO M. V. Ramana said , “ This joint venture is an innovative project of two companies working with the common goal of better health . We are delighted to be partnering with Nestlé India to bring innovations from Nestlé Health Sciences' global portfolio to consumers in India . This innovative venture, which leverages the complementary strengths of both parent companies, will allow us to better provide products to consumers at affordable prices .”
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