US healthcare giant Abbott plans to separate its nutrition business into an independent, publicly traded company. According to a press release issued on Wednesday, the aim is to allow both companies to pursue their own growth strategies, while enabling Abbott to focus on its core businesses in medical devices and diagnostics.
Major spin-off: Abbott plans to separate nutrition business
Abbott's global nutrition business generates approximately $8.5 billion in annual sales. Now, the medtech giant has announced plans to spin off the business into a separate, publicly traded company.
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