Pfizer closes deal, sells nutrition business to Nestlé for $11.9 billion

NEW YORK — Pfizer on Friday announced that it has completed the sale of its nutrition business to Nestlé for $11.9 billion in cash, following the conclusion of the required regulatory process in most markets. In certain countries where completion will be delayed due to ongoing regulatory review, Pfizer will continue to operate the business on an interim basis.

Pfizer Nutrition, formerly Wyeth Nutrition, supplies nutritional products that are scientifically designed to help meet the needs of infants and young children, as well as pregnant and lactating mothers. The company's brands — including infant formulas Promil, Progress and Promise Gold, and maternal supplement Materna — are available across more than 60 countries.