Teva enters market of milk substitutes for babies

The company announced at a press conference Monday that it had come to an agreement with Dutch-based medical nutrition company Nutricia.

By NADAV SHEMER
June 27, 2011 22:55
1 minute read.
Teva enters market of milk substitutes for babies

Teva. (photo credit: Ariel Jerozolimski)

 
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As the war over cottage cheese prices continues to dominate the headlines, Teva Pharmaceutical Industries is also preparing to enter the world of dairy – by taking on the two Israeli companies already offering milk substitutes for infants.

The company announced at a press conference Monday that it had come to an agreement with Dutch-based medical nutrition company Nutricia to provide milk substitutes for infants in Israel. Nutricia, a specialized unit of French food products multinational Danone, is one of the European leaders in milk alternatives.

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Teva Israel CEO Ron Meron said, “We chose to work with Nutricia because of its vast international experience, the quality and variety of its products and the scope of its investment in research.”

Nutricia Export CEO Hans Van Der Wulp, who joined Meron for the announcement, said the two companies were responsible “first and foremost to parents and their children.” “We are committed to product safety, through our long tradition of R&D alongside the policy of ‘farm to table,’ which we personify with comprehensive supervision along the whole chain, from production to packaging, to delivery and distribution.”

Milk substitutes are a big business in Israel, with information provided to the press by Teva showing that annual sales totaled around NIS 500 million in the 12 months ending May – showing annual growth of around six percent.

The market is currently dominated by two companies – Materna and Similac.

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