Novartis delays divestment of health food, sports nutrition units

According to an Associated Press story, Novartis is delaying the divestment of its Health Food & Slimming and Sports Nutrition units because of a lack of attractive offers.

The company claims that bids for these businesses have not been at appropriate value levels in this economic climate.

The company wants to sell the units as part of a plan to focus on health care, with pharmaceuticals as the core business. Novartis sold its Food & Beverage business, including the Ovaltine brand, to Associated British Foods this year for $272.5 million.

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