Nestle India and Dr. Reddy’s Laboratories Ltd have unveiled plans to establish a joint venture aimed at introducing innovative nutraceutical brands to consumers in India and other agreed territories. This definitive agreement marks a significant collaboration between two industry leaders in the healthcare and pharmaceutical sectors.
In a joint press release issued by the companies, it was revealed that the partnership will leverage Nestle Health Science’s (NHSc) globally renowned range of nutritional health solutions, including vitamins, minerals, herbals, and supplements, alongside Dr. Reddy’s established commercial prowess in India.
The strategic alliance seeks to merge the strengths of both entities and expand their complementary nutraceutical portfolios across various categories, including metabolic health, hospital nutrition, general wellness, women’s health, and child nutrition, catering to diverse consumer needs in India.
Suresh Narayanan, Chairman and Managing Director of Nestlé India, expressed enthusiasm about the collaboration, emphasizing Dr. Reddy’s trusted reputation in the pharmaceutical domain and shared commitment to providing access to high-quality products. He highlighted the joint venture as an opportunity to enhance retail and distribution networks, bringing brands closer to consumers and positively impacting their quality of life.
M V Ramana, CEO – Branded Markets (India & Emerging Markets) at Dr. Reddy’s, echoed Narayanan’s sentiments, describing the joint venture as a unique endeavor driven by a shared purpose of promoting good health. Ramana emphasized the partnership’s focus on leveraging mutually complementary strengths to enhance consumer access and affordability, ultimately benefitting the broader community.
As part of the agreement, select brands from both Nestle and Dr. Reddy’s portfolios will be licensed to the joint venture company. Nestle will contribute brands such as Nature’s Bounty, Osteo Bi-Flex, and Optifast, among others, while Dr. Reddy’s will license brands like Rebalanz, Celevida, and Kidrich-D3.
The joint venture company is slated to commence operations in the second quarter of the financial year 2025, heralding a new era of collaboration and innovation in the nutraceutical segment in India. With a shared commitment to promoting health and well-being, Nestle India and Dr. Reddy’s Laboratories are poised to make a meaningful impact on the country’s healthcare landscape.
