17 Nov, 2008 - Nestle Nutrition has rejected seven out of eight nutritional bioactive molecules that were developed as part of a joint venture with Indian biotech company Avesthagen Ltd, sources have said.
Nestle’s health food and nutrition division’s move has effectively postponed a proposal to use these ingredients in health food for diabetics that the Swiss giant had planned to launch globally.
The source cited Nestle R&D communications head Hilary Green as confirming the collaborative agreement with Avesthagen had been terminated.
Villoo Morawala Patell, Chair of the Indian company, was quoted as saying: "Nestle has returned some of the compounds to us, and we are free to further develop them on our own or with other partners.”